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MLP SE Investor Presentation 2009

Apr 12, 2009

289_ip_2009-04-12_eb59d07a-1b0b-4a50-b2dd-e4c945a37824.pdf

Investor Presentation

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Individuality requires partnership

Uwe Schroeder-Wildberg, CEO

Roadshow Frankfurt

April 1, 2009

    1. Highlights 2008
    1. Results FY 2008
    1. Strategy and market developments
    1. Outlook and summary
    1. Appendix

1. Highlights 2008

Frankfurt - April 1, 2009

Highlights FY 2008

  • Far-reaching financial crisis led to significant restraint on the part of clients
  • MLP still achieved total revenues almost equalling the record level of 2007
  • No involvement in any risky capital market business MLP has a very resilient balance sheet and excellent liquidity
  • Great financial strength enables a large portion of the profit to be distributed – proposed dividend of 28 cents

Financial crisis led to significant restraint on the part of investors

Inflows – Retail funds 2008

Holders of mutual funds in Germany

Sources: BVI / Deutsches Aktieninstitut

Attractive shareholder participation

Overview

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2. Results FY 2008

Frankfurt - April 1, 2009

FY 2008: Total revenues almost at previous year's level

Total revenues 2008

Q4: Shortfall in total revenues due to capital market crisis

Total revenues Q4 2008

[in € million]

Clients are reluctant to invest long-term

Revenues - Commissions and fees

[in € million]

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Wealth management accounts for 16% of revenues from commissions and fees

Revenues – Commissions and fees, 2008: € 514.0 million

Adjusted EBIT 2008

Continuing operations

EBIT

Operating EBIT margin: 11.5%

Continuing operations

Income statement

[in € million]

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  • Operating EBIT margin FY 2008: 11.5%
  • Finance costs burdened by (one-time) high dividend to minority shareholders of Feri
  • •Tax rate: 34%
  • Net profit discontinued operations € -6.3m

Stable assets under management

New business and assets under management

MLP is financially strong

MLP Group – selected balance sheet items

Client base continues to steadily increase

Continuing operations

Total number of clients

High quality sales force

Continuing operations

Total number of consultants

3. Strategy and market developments

Frankfurt - April 1, 2009

MLP is already implementing the major requirements

Study by the ministry of consumer protection concerning better quality in financial consulting

Major requirements:

  • y Stronger orientation towards customer requirements and greater transparency for customers
  • y Adaptation of the regulatory provisions to everyday practice
  • y Brokerage of investment funds only with banking license
  • yMore comprehensive qualification
  • y Strengthening of fee-based consulting

MLP situation:

  • Client-oriented consulting as the core of the business model
  • High degree of transparency through comprehensive documentation and detailed reporting
  • MLP already possesses a German banking license
  • Training standards far exceed the legal standards

Targeted further development

Milestones of the past five years

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MLP – A broad-based consulting house

Private clients

  • MLP Finanzdienstleistungen
  • xFeri Family Trust
  • xZSH

Corporate clients Rating

  • x MLP Finanzdienstleistungen (Business areas: occupational pensions and corporate clients)
  • xTPC
  • xFeri Institutional Advisors

Feri EuroRating Services

Independent investment research

TPC boasts first-rate reference clients nationwide

Extract

Introductionof a new Executive Committee

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4. Outlook and summary

Frankfurt - April 1, 2009

MLP's target group has the highest provision requirements

Continued high revenue potential in old-age pension provision

Provision shortfall*

*Difference between 80% of last gross income and the replacement rate by the state pension scheme

Targeted cost reduction of € 34 m

Fixed costs

[in € million]

  • Cost savings of € 12 m in 2009 and a further € 10 m in 2010
  • Additionally shortfall of € 12 m of one-time expenses in 2009

Optimally equipped for consolidation

Growth through acquisitions

Trend

Quality and Independence

  • ÆNumerous statutory changes
  • ÆIndependent providers are gaining market share

Size and Capital Strength

  • ÆHigh costs due to regulatory requirements
  • Æ"Critical mass" necessary

Technology and Infrastructure

  • Æ Processes and organisation are gaining in significance
  • Æ Legal standards necessitate extensive infrastructure

MLP Strengths

  • MLP is subject to the highest qualitative requirements (independent broker, banking license)
  • MLP has long exceeded numerous legal standards
  • Strong capital base (liquid funds: € 210 m)
  • No risk positions on the balance sheet
  • Largest financial consulting company that is registered as an independent broker
  • Excellent infrastructure (Sales support, training, product portfolio)

  • Technology leader

  • Total revenues almost reached the record level of 2007 despite an extremely difficult market environment

  • MLP has developed itself to become a broad-based consulting house with a strong corporate business component
  • In 2009 MLP will continue to consistently avoid risk positions and will reduce costs
  • •MLP is optimally equipped for consolidation within the industry
  • Outlook 2009: MLP is cautiously optimistic and aims to outperform the market

MLP will come out of the global financial crisis in a stronger position

5. Appendix

  • MLP's business model and positioning
  • Statutory changes
  • Contact

Frankfurt - April 1, 2009

Independent business model and one-stop for lifetime financial solutions

Independent Business Model is unique in the German Market

Independence is key for MLP's customer group

The most important demands of customers with an university degree

Source: Spiegel-Studie Soll & Haben, 2004

Extensive statutory changes . . .

Regulatory requirements

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Broadening of the information obligations

. . . lead to radical changes in the German financial industry

Major Market Trends for Banks, Insurance Companies and IFAs

Increasing regulatory requirements will further change the market place dramatically:

Further optimisation of cost structure and processes

  • Consolidation
  • Professionalisation
  • Specialisation

MLP is optimally prepared to meet the new requirements

Extensive new regulations:

  • xBrokerage guideline, MiFID, VVG
  • x Flat-rate capital gains tax, healthcare reform

Increasing competition:

x Banks and new providers are entering the market

High client requirements:

x Clients demand quality and comprehensive consultation

High complexity:

x Numerous products/high tax complexity

  • x Capability to adjust rapidly to changed framework conditions
  • x Highly developed IT systems and processes
  • xUnique positioning in the market
  • x Industry-leading education and further training
  • x High quality target group and excellent quality parameters

Æ Excellent prospects through clear positioning and targeted further development

Independent brokers gain significant market shares

Effects of the regulation in Great Britain

Sales by channel in 1992 Sales by channel in 2006

Contact

MLP Investor RelationsAlte Heerstr. 4069168 WieslochGermany

  • Helmut Achatz, Head of Investor Relations
  • Ines Kittlitz, Manager Investor Relations

Tel.: +49 (0) 6222 308 8320 Fax: +49 (0) 6222 308 1131

[email protected] www.mlp-ag.de

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