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MLP SE Investor Presentation 2011

Apr 13, 2011

289_ip_2011-04-13_006c05eb-256f-4fa1-adf3-d0a536f4e4e5.pdf

Investor Presentation

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MLP – Company Presentation

Dr. Uwe Schroeder-Wildberg, CEO

Bankhaus Lampe Kapitalmarktkonferenz

March 31, 2011

  • •Highlights 2010
  • •Preliminary results 2010
  • •Strategy, market developments, outlook and summary
  • •Appendix

Overview

Financial Year 2010

  • • MLP concluded the financial year with significant earnings growth EBIT increased by 11%, Group net profit rose by 41%
  • • Successful efficiency management: cost savings target once again clearly exceeded
  • • MLP continues to benefit from its holistic approach and achieved growth particularly in wealth management and health insurance
  • • Assets under Management continued to grow – reaching new record high of € 19.8 billion
  • • Executive Board and Supervisory Board propose a dividend of 30 cents per share (2009: 25 cents)

Financial crisis leaves far-reaching after-effects

Personal stance towards financial investments has changed since the start of the financial crisis …

Source: Forsa survey commissioned by Allianz Deutschland AG, December 2010, Base: 1,003 respondents

Old-age provision business remains difficult

Market development

New business: old-age provision (recurring premiums) in the market

[in € billion]

Source: GDV (German Insurance Association), own calculations (premium sum new business: recurring premiums x duration)

Earnings situation improved significantly

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Dividend increases to 30 cents per share

Dividend per share

[in cents]

Total dividend sum € 32.4m

Stable revenue from commissions and fees

Total revenue 2010

[in € million]

Q4: Total revenue declined by 7%

Total revenue Q4 2010

[in € million]

Very positive development in health insurance

Revenue - commissions and fees

[in € million]

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* excluding MLP Hyp

* excluding MLP Hyp

Net profit increased by 41%

Income statement

[in € million]

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  • • EBIT increased by 11%
  • • Net profit reached € 34.1m
  • •EPS +41%

Cost-cutting target again clearly exceeded

Development of fixed costs*

[in € million] 2009(reported) -5.5Personnel-2.3D&A-8.6Other operating expenses 279.12010(reported) 295.5

* Personnel, D&A, other operating expenses

Strong equity base and liquidity

MLP Group – selected balance sheet items

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34,000 new clients gained in 2010

New clients Consultants

Market share for recurring premiums at previous year's level

Market share – old-age provision

Market share - recurring premiums*

[in %]

Source: GDV (German Insurance Association), own calculations / *preliminary market figures

Market share further increased

Market share – Wealth management

Assets under Management

[in € bn]

Market

MLP

Source: BVI, own calculations

MLP – a broad-based consulting house

Unique investment universe

Portfolio in wealth management for MLP clients

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AuM: MLP compared to selected German private banks

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Source: Financial Times Deutschland, 08/11/2010, own data

High consulting demand from institutional clients

Feri Institutional Advisors

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MLP will benefit from tighter regulations

MLP benefits from its early alignment to the new requirements and calls for even higher quality standards

Demanding market environment

Change in German GDP

[in %]

  • • Positive market environmentfor wealth management and health insurance will continue
  • • Further development in the old-age provision market uncertain

Source: Annual economic report

Target 2012: Increase EBIT margin to 15%

MLP Group

Operating EBIT margin*

[in %]

* Before acquisitions and one-offs

Further cost savings of € 20 million

Outlook

Fixed costs

[in € million]

  • • Further reduction of fixed costsby the end of 2012 amounting to € 20m
  • • Focus: administrative expenses, reduction of IT complexity

Growth expected in wealth management and health insurance

Outlook

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  • • Further growth in wealth management and health insurance expected in 2011 and 2012
  • • Outlook for old-age provision remains uncertain – from a current perspective, stable revenues in 2011 and a slight increase in the following year

Summary

  • • MLP performed well in 2010 and concluded the year with a considerable increase in earnings
  • • As in 2010, MLP will also benefit in 2011 from the new breadth in the business model
  • • 2011 will not be an easy year. However, even these demanding framework conditions offer many opportunities which MLP will utilise
  • •Goal for 2012: Increase in the operating EBIT margin to 15%

Appendix

Pressure on social security systems is imminent

Massive increase in the "dependency ratio" for the period 2010 - 2035

Old-age provision market is expected to grow

Money invested in old-age provision products in Germany

[in € trillion]

  • •Includes single premium business
  • • Includes occupational pension business

Source: Allianz, Handelsblatt (September 1, 2010)

Extensive new client potential at the universities

University graduates in Germany

[in thsd.]

Sources: Institut für Wirtschaft in Cologne, Federal Statistics Agency, BCG

Top ratings in consulting tests

  • 1st place in the old-age pension provision assessment by WirtschaftsWoche (05/2009)
  • 2nd place and top rating in the client assessment of MLP consulting by WhoFinance (05/2010)
  • 2nd place in the mortgage test carried out by the magazine Euro (07/2010)
  • 1st place as the best wealth manager in Germany Survey conducted by the investors' magazine Börse Online and the WHU – Otto BeisheimSchool of Management (07/2010)

Stable shareholder structure

Overview of shareholders

Manfred Lautenschläger Angelika Lautenschläger Swiss LifeHDI/Talanx AGBarmeniaAllianz SEHarris AssociatesBerenberg Bank Axa S.A.Uberior Ena Ltd. (HBOS) Others[in %] 23.386.039.909.89 6.676.270.734.844.725.1027.47

Independent business model and one-stop for lifetime financial solutions

Independent business model is unique in the German Market

Contact

MLP Investor RelationsAlte Heerstr. 4069168 WieslochGermany

Helmut Achatz, Head of Investor Relations

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

[email protected] www.mlp-ag.com

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Mar 19
Report Publication Announcement 2026
Mar 19
Earnings Release 2026
Mar 12
Transaction in Own Shares 2026
Jan 14
Transaction in Own Shares 2026
Jan 12
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