MLP SE — Investor Presentation 2012

Aug 10, 2012

H1 and Q2 2012 Results

Reinhard Loose, CFO

August 9, 2012

• •Financial details H1 and Q2 2012
• •New business, consultants and clients
• •Outlook and summary

• •Questions and Answers

• • H1: EBIT increases from € 1.7 million to € 15.6 million; early efficiency program continues to bear fruit

• • Q2: Total revenue increases after successful development in wealth management by 3 % to € 112.2 million
• •MLP benefits from the new breadth in its business model
• •Outlook 2012 confirmed – operating EBIT margin to rise to 15 %
• • Distinct upswing expected in old-age provision and health insurance

•Financial details H1 and Q2 2012

• •New business, consultants and clients
• •Outlook and summary
• •Questions and Answers

Q2: Total revenue of € 112.2 million

Total revenue in Q2

[in € million]

H1: Total revenue of € 233.7 million

Total revenue in H1

[in € million]

Considerable increase in wealth management

Revenue: commissions and fees

[in € million]

	Q 2 2 0 1 1	Q 2 2 0 1 2	Δ i % n	H 1 2 0 1 1	H 1 2 0 1 2	Δ i % n
O l d- i i a g e p r o v s o n	6. 5 4	8. 4 4	1 4 -	1 0 6. 9	9 7. 4	9 -
W l t h t e a m a n a g e m e n	2 0. 9	2 9. 9	4 3	4 0. 2	4 9. 2	2 2
H l h i t e a n s u r a n c e	1 3. 7	1 2. 7	-7	4 1. 8	3 1. 8	2 4 -
N l i f i o n- e n s u r a n c e	4. 0	4. 7	1 8	2 0. 8	2 2. 6	9
* L d t o a n s a n m o r g a g e s	3. 0	2. 6	1 3 -	6. 2	5. 5	1 1 -
O h i i d f t e r c o m m s s o n s a n e e s	1. 0	1. 0	0	1. 8	1. 9	6

*excluding MLP Hyp

MLP benefits from its holistic approach

Revenue from commissions and fees: H1 2012: € 208.3 million (€ 217.6 million)

Earnings situation further improved

Income statement

[in € million]

	Q 2 2 0 1 1	Q 2 2 0 1 2	H 1 2 0 1 1	H 1 2 0 1 2
T l t o a r e v e n u e	1 0 9 3	1 1 2 2	2 4 0 1	2 3 3 7
E B I T	6 8 -	3 1	1. 7	1 6 5
F i t n a n c e c o s	0 4	0 1	0 6 -	0 3
E B T	6 5 -	3 3	1. 1	1 5 8
T a x e s	1. 6	2 4 -	1. 3 -	6 5 -
N f i t t e p r o	4 4 -	0 8	0 3	1 0 2
S € E P i n ( ) d i l t d u e	0 0 4 -	0 0 1	0 0 0	0 0 9

• y No one-offs in H1 2012 (H1 2011: € 10.5 million)
• y Efficiency program continues to bear fruit
• y Q2: Higher tax rate due to a special effect
• y Tax rate is expected to decrease to less than 30 % in the full year

Efficiency program still on track

Development of fixed costs*

Strong balance sheet

[ i € i l l i ] n m o n
	/ / 3 1 1 2 2 0 1 1	/ / 3 0 0 6 2 0 1 2
i I b l t t n a n g e a s s e s	1 4 0. 3	1 3 9. 5
F i i l i t t n a n c a n v e s m e n s	2 3 2. 0	1 9 6. 1
C h d h i l t a s a n c a s e q a e n s u v	3 1. 4	2 1 7.
h i b l d h O t t t e r r e c e v a e s a n o e r a s s e s	1 4 3. 6	1 0 6. 8	E i t t i q u y r a o : y
			% 2 4 5
S h h l d ' i t a r e o e r s e q u y	3 9 9. 3	3 4 4. 7	C i l i t t o r e c a p a r a o y :
E i i t t q u y r a o	2 6. 8 %	2 4. 5 %	1 9 % 7
O h l i b i l i i t t e r a e s	1 4 7. 6	8 4. 8
T l t o a	1, 4 8 7. 8	1, 4 0 4. 1

•Financial details H1 and Q2 2012

•New business, consultants and clients

• •Outlook and summary
• •Questions and Answers

Assets under Management of € 20.2 billion

New business

[in € billion] [in € billion]

^*in accordance with the BVI methodology

Assets under Management* New business in old-age provision

• •Financial details H1 and Q2 2012
• •New business, consultants and clients
• •Outlook and summary
• •Questions and Answers

2012: Reduction in fixed costs to around € 249 million

Outlook

Development of fixed costs*

[in € million]

* Personnel, D&A, other operating expenses

** After adjustment for one-offs

Upswing expected in old-age provision and health insurance in the second half of 2012Outlook

• Due to the challenging market environment, future development in all three consulting areas remains somewhat uncertain

Goal 2012: Operating EBIT margin of 15 %

MLP Group

EBIT margin

* After adjustment for one-offs ** Before acquisitions and special effects

Summary

• •Continuingly challenging market environment
• •MLP benefits from its holistic approach
• •Efficiency program fully on track
• • Upswing expected in old-age provision and health insurance in H2 2012
• •Positive development in wealth management is expected to continue
• • Guidance reiterated:
• yIncrease in operating EBIT margin to 15 %

• yReduction of the fixed cost base to € 249 million in FY 2012

• •Financial details H1 and Q2 2012

• •New business, consultants and clients
• •Outlook and summary
• •Questions and Answers

Contact

MLP Corporate Communications Alte Heerstr. 4069168 WieslochGermany

• Jan Berg, Head of Corporate Communications
• Ines Löffler, Manager Investor Relations

Tel.: +49 (0) 6222 308 3694 Fax: +49 (0) 6222 308 1131

investorrelations@mlp.de www.mlp-ag.com