MLP SE — Investor Presentation 2015

Aug 13, 2015

Financial results H1/Q2 2015

Reinhard Loose, CFO

13th August 2015

• Highlights H1/Q1 2015
• Key financial figures H1/Q2 2015
• Consultants and clients
• Outlook and summary
• Questions & Answers

Highlights H1/Q2 2015

• Market environment remains challenging especially in old-age provision
• H1: Total revenue increases by 9 percent to € 246.5 million
• EBIT rises to € 8.1 million (H1 2014: € 4.5 million)
• Q2: EBIT totals € 1.1 million and remains at previous year's level despite burden of one-off special items
• Wealth management continues to develop dynamically
• Growth initiatives running according to plan

• Forecast reiterated: slight rise in EBIT expected

• Highlights H1/Q1 2015

• Key financial figures H1/Q2 2015
• Consultants and clients
• Outlook and summary
• Questions & Answers

H1: Total revenue rises to € 246.5 million

Total revenue H1

[in € million]

Q2: Total revenue rises to € 115.7 million

Total revenue Q2

[in € million]

Strong growth in wealth management

Revenue

[in € million]

	Q2 2015	Q2 2014*	Δ in %	H1 2015	H1 2014*	Δ in %
Old-age provision	41.1	44.1	-7	83.1	84.3	-2
Wealth management	41.9	34.4	22	82.6	67.0	23
Health insurance	10.4	9.7	7	22.2	21.1	5
Non-life insurance	5.1	5.3	-4	25.2	24.1	5
Loans and mortgages*	3.8	3.0	27	6.9	5.9	17
Other commissions and fees	4.0	1.8	>100	6.4	3.1	>100
Interest income	5.3	5.6	-5	10.8	11.4	-5

* excluding MLP Hyp

Assets under Management reach € 29.2 billion

Assets under Management Premium sum: old-age provision

[in € billion] [in € billion]

MLP benefits from further broadening of its revenue mix

Revenue from commissions and fees H1 2015: € 226.5 million (€ 205.4 million)

H1: EBIT increases to € 8.1 million

Income statement

[in € million]

	Q2 2015	Q2 2014	H1 2015	H1 2014*	Special items Q2/2015:
Total revenue	115.7	108.1	246.5	226.9	• Depreciation Property
EBIT	1.1	1.1	8.1	4.5	(€ 1.1 million)
Finance cost	-0.1	-0.1	-0.3	-0.1	• Incidental acquisition
EBT	0.9	1.0	7.8	4.4	costs DOMCURA (around € 0.6 million)
Taxes	0.4	0.2	-1.3	-0.6
Group net profit	1.3	1.1	6.6	3.8
EPS in € (diluted/undiluted)	0.01	0.01	0.06	0.04

* Previous year's figures adjusted

Core capital ratio: 14.3 percent

MLP Group

[in € million]

	30/06/2015	31/12/2014
Intangible assets	154.1	156.2
Financial investments	137.0	145.3	• Equity ratio: 22.3%
Cash and cash equivalents	73.1	49.1	• Core capital ratio: 14.3%
Other receivables and other assets	91.5	117.7
Shareholders' equity	364.9	376.8
Equity ratio	22.3%	23.2%
Other liabilities	84.1	117.8
Total	1,636.3	1,624.7

• Highlights H1/Q1 2015
• Key financial figures H1/Q2 2015
• Consultants and clients
• Outlook and summary
• Questions & Answers

MLP attracts 12,200 new clients

Consultants Gross number of new clients

• Highlights H1/Q1 2015
• Key financial figures H1/Q2 2015
• Consultants and clients
• Outlook and summary
• Questions & Answers

Implemented growth initiatives begin to bear fruit

Focus	Measures implemented in the first half-year
1. Online strategy	• Expansion of the Internet presence in order to serve as a significant channel for attracting interested parties and new clients • Start of the new Internet presence "MLP financify" in April 2015 to address the needs of young adults • Re-launch of the mlp.de website in July 2015 – creates basis for online contract conclusion for simple products by the end of the year
2. Recruiting	• New further training bonus introduced for new client consultants • Combination of high quality initial and further training with an easier start into self-employment • Opening of additional branches planned for the university segment	Make MLP more independent of short-term market influences
3. Broadening of the revenue base	• Development of a further, strategically relevant business segment in the area of non-life insurance through the acquisition of the DOMCURA Group – at the same time, considerable revenue synergy potential with the classical MLP business • Continued expansion of wealth management • Ongoing expansion of real estate brokerage

Outlook: MLP anticipates EBIT above previous year's level

Outlook

Administrative costs* (excl. DOMCURA)

* Definition: Personnel expenses, depreciation and amortisation and other operating expenses ** Adjusted to include one-off expenses

Sales revenue

In each case compared to the previous year

	2015
Revenue from old-age provision	Slight decrease
Revenue from health insurance	Slight increase
Revenue from wealth management	Significant increase
Other commissions and fees (real estate)	Significant increase

Despite continuingly difficult markets and extensive investments, MLP anticipates a slight increase in EBIT for 2015

Anticipated pro-forma EBIT for DOMCURA in 2015: around € 2 million

As of 1st January, 2015, MLP is entitled to a share in profits for 100 percent of the shares.

Expected pro-forma EBIT 2015: around € 2 million

Summary

• Broad-based growth in the first half-year
• Significant increase in wealth management partly attributable to the value appreciation in the client portfolios
• Market environment remains difficult especially in old-age provision
• As is customary in the MLP business model, the second quarter in particular plays a decisive role in the full-year results

• Outlook 2015 reiterated slight rise in EBIT expected

• Highlights H1/Q1 2015

• Key financial figures H1/Q2 2015
• Consultants and clients
• Outlook and summary
• Questions & Answers

Contact

MLP Corporate Communications Alte Heerstr. 40 69168 Wiesloch Deutschland

Frank Heinemann, Head of External Communications

Andreas Herzog, Head Investor Relations and Financial Communications

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

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