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MLP SE — Investor Presentation 2021
May 20, 2021
289_ip_2021-05-20_9393fcd5-d506-48ad-9a0d-a5d0f39d7cd7.pdf
Investor Presentation
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MLP SE – The partner for all financial matters Dr. Uwe Schroeder-Wildberg, CEO
Commerzbank European Conference 2021, USA May 20, 2021
Agenda
-
- MLP at a glance
-
- Strategy
-
- Appendix: Business Performance Q1 2021
MLP SE: Strong foundation for future growth
*Q1 2021 / **FY 2020 / ***Consolidation in Q2
MLP SE: Attractive dividend policy & valuation
Sustainable Investment Opportunity – ESG Prime Rating
We stand for equal opportunities, diversity and the compatibility of work and family.
We combine successful entrepreneurship with social and community engagement.
Sustainable action is an essential component of our services and activities.
MLP takes ecological and social aspects into account as well as the principles of good corporate governance.
Change to carbon free power supply in 2019 Altered Mobility Concept in 2020 Carbon footprint 2020 compensated (supporting focused SDGs) Next Step: Carbon Neutral on Group level until 2022
Sustainable Investment Opportunity
Supporting all United Nations Sustainable Development Goals (SDGs) the MLP Group actually focuses on:
FERI is "Signatory" of the UN Principles of Responsible Investing (UN PRI) since 2014 SDGs serve as guideline for all investment and corporate sustainability goals for FERI and its clients
FERI SDG Office as a central competence centre and for steering the internal implementation of the SDG Policy at FERI
https://mlp-se.com/sustainability/
https://www.feri.de/en/investmentconsulting/sustainability-sdg-office
Agenda
-
- MLP at a glance
-
- Strategy
-
- Appendix: Business Performance Q1 2021
Targeted diversification of the business model
Occupational pension provision Wealth management
2004
Foundation of the Occupational Pension Provision division, incl. acquisition of BERAG
2008
Acquisition of TPC
Start of real
2011
Start of real estate portfolio 2014 Expansion of real estate portfolio
estate business Non-life insurance
2015 MLP takes over DOMCURA
real estate operations
Massive expansion of
2019 MLP acquires majority shareholding in DEUTSCHLAND.Immobilien
Industrial insurance
2021
MLP acquires industrial insurance broker RVM
2006
2011
FERI AG
in FERI AG
MLP acquires shares in
MLP acquires all shares
RVM: Establishing the broker group at eye level with the top ten
* Market assessment by MLP
Profile of DEUTSCHLAND.Immobilien
Brokerage and project development in the real estate sector
Business model
DEUTSCHLAND.Immobilien: Selected project business in growth markets
Project map Project development process
Offer planned for back office services
Digital administration
MLP scales infrastructure to be even more proactive as an interface between market members and insurers
Strategic value creation within the MLP Group accelerating
Further added value for MLP's private client business:
- Indirect support through brand and know-how transfer
- Direct support for consulting processes by specialists
- Processing benefits for consultants and clients
Further added value for Group companies:
- Increased client base
- Increased volume
- Economies of scale
Tangible added value based on shared and deeper value creation
An overview of growth areas for 2022
Growth in sales revenue across various fields of consulting 2 4
- Renewed increase in occupational pension provision following negative impacts, above all in the previous year (COVID-19)
- Continuous organic growth in the non-life insurance business
Project business DEUTSCHLAND.Immobilien
Significant increase in project volume planned: At least 10 projects p.a. in the pipeline from 2021 onwards
Still EBIT of € 75 to 85 million for 2022 planned
EBIT performance
0 10 20 30 40 50 60 70 80 90 EBIT 2020 Young segment Revenue growth incl. real estate Industrial broker EBIT target 2022 75-85 9-11 4-6 7-9 59.4 Strict cost management – administration costs rise only slightly
- Planning for 2021 and 2022 anticipates significantly lower performance-linked compensation compared to 2020
- Decline to be more than compensated by growth in other consulting fields – above all real estate
In € million
Strategic further development of the MLP Group
Digitalisation of the Group further progressing
Strategic agenda wrap-up
+ Ongoing strict cost management
+ Further acquisitions
Agenda
-
- MLP at a glance
-
- Strategy
3. Appendix: Business Performance Q1 2021
Highlights Q1 2021
- Total revenue increase substantially to € 221.4 million (+ 14 %) at the start of the year
- Broad-based growth in all parts of the MLP Group and across virtually all fields of consulting
- Assets under management rise by 13 % from end-2020, reaching a new all-time high of € 48.2 billion
- Significant EBIT growth to € 21.8 million (Q1 2020: € 10.7 million)
- Forecast 2021: EBIT between € 55 and 61 million expected Planning 2022 confirmed: EBIT between € 75 and 85 million
Total revenue up by 14 %
Total revenue Q1
Successful diversification beyond old-age provision
Commission income in the first three months (all segments, excluding old-age provision)
Growth in virtually all fields of consulting
Revenue Q1
Previous year's values in brackets * Excluding MLP Hyp
Page 23 Commerzbank European Conference 2021
Positive development of key figures
Assets under management Non-life insurance portfolio volume
Each as at December 31
Q1: EBIT at € 21.8 million
Income statement
in € million
| Q1 2020 | Q1 2021 | |
|---|---|---|
| Total revenue | 193.7 | 221.4 |
| EBIT | 10.7 | 21.8 |
| Finance cost | -0.9 | -0.9 |
| EBT | 9.8 | 20.9 |
| Taxes | -2.2 | -5.1 |
| Net profit | 7.6 | 15.8 |
| EPS in € (diluted/basic) |
0.07 | 0.15 |
EBIT Q1 2021:
- Significant increase in performance-linked compensation – marked by an overall positive operational development
- Expenses resulting from remeasurement gains/losses and loan loss provisions fell by € 2.7 million over the same period of the previous year.
Strong balance sheet
Balance sheet overview
| in € million |
Assets | 31.12.2020 | 31.03.2021 | |
|---|---|---|---|---|
| Intangible assets | 178,9 | 177.4 | Equity ratio: 13.8 % | |
| Financial assets | 197,6 | 198.4 | ||
| Receivables from clients in the banking business | 880.6 | 886.1 | ||
| Receivables from banks in the banking business | 751.5 | 635.0 | ||
| Other receivables and assets | 199,8 | 240.9 | ||
| Cash and cash equivalents | 859.0 | 1,097.5 |
Core capital ratio: 20.2 %
Net liquidity € 219 million
Liabilities and shareholders' equity
| Shareholders' equity | 454.0 | 469.3 |
|---|---|---|
| Provisions | 115,8 | 118.9 |
| Liabilities due to clients in the banking business | 2,271.9 | 2,371.0 |
| Liabilities due to banks in the banking business | 107.5 | 115.7 |
| Other liabilities | 265.7 | 308.7 |
| Total | 3,235.0 | 3,408.1 |
Number of consultants up on the previous year
Number of client consultants
Year-on-year trend in consultant numbers
Number of family clients increases to 555,200
Family clients Corporate and institutional clients
2021 forecast – EBIT expected in the same high range as the previous year
Financial calendar 2021 & contact details
MLP Investor Relations
Phone: +49 6222 308 8320
E-Mail: [email protected]
Homepage: www.mlp-se.com/investors
Andreas Herzog, Head of Investor Relations Email: [email protected] Phone: +49 6221 308 2272
| Date | Event |
|---|---|
| Feb 25, 2021 | Annual Analyst Conference and Press Conference |
| Mar 25, 2021 | Publication of the Annual Report for the financial year 2020 |
| May 12, 2021 | Publication of the financial results for the first quarter 2021 |
| June 24, 2021 | Annual General Meeting (virtual) |
| Aug 12, 2021 | Publication of the financial results for 6M/Q2 2021 |
| Nov 11, 2021 | Publication of the financial results 9M/Q3 2021 |