MLP Company Presentation

(1)

MLP – Company Presentation

Reinhard Loose, CFO

Roadshow Copenhagen

(2)

Page 2 MLP – Company Presentation

Agenda

• MLP at a glance

• Outlook

• Top line development

• Bottom line development

• Earnings situation

(3)

Corporate data at a glance

y Independent financial services and wealth management consulting company

y Founded in 1971

y 795,500 private clients

y More than 5,000 corporate clients

y 20.2 billion € assets under management y Around 1,600 employees and 2,130

financial consultants

(4)

MLP – a broad-based consulting house

Independent product and investment research The MLP Group

Institutional investors and corporate clients

(5)

FY 2011: Increased revenues and operating

result

€ 52.3 million € 545.5 million Total revenues Operating EBIT € 12.5 million Group net profit

€ 0.12 Earnings per share

+ 11% + 4%

- 63% - 61% € 0.60

Dividend per share + 100%

€ 18.9 million

(6)

Agenda

• MLP at a glance

• Outlook

• Top line development

• Bottom line development

• Earnings situation

(7)

Goal 2012: Operating EBIT margin 15 percent

18.1 9.4 7.9 9.0 9.6 15.0 0 5 10 15 20 2007 2008 2009 2010 2011* 2012e** [%] MLP Group

EBIT margin

(8)

Agenda

• MLP at a glance

• Outlook

• Top line development

• Bottom line development

• Earnings situation

(9)

Independent business model and one-stop

for lifetime financial solutions

Objectives Advice Solution

Independent business model is unique in the German Market

Old-age provision management Non-life management

Health management

Loan and mortgage management Wealth management Cash management Solutions Planning Insurance coverage Retirement provision Health Consumption

Target group focus Quality of advice Independence

40 52 65

28 31 34 35 37 45

25

(10)

Page 10

Growth anticipated in all three core areas

2012

Revenues – old-age provision Revenues – wealth management Revenues – health insurance

• Qualitative forecast made a year ago fundamentally confirmed: y Old-age provision: slight increase in revenues in 2012 y Health insurance: slight increase in revenues in 2012 y Wealth management: stronger growth in 2012

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

(11)

Pressure on social security systems is imminent

(12)

Page 12

Growth driver – Occupational pensions

y This business area has been successfully built up since 2004

y Occupational pension business now accounts for 13 percent of the premium sum (FY 2010: 9 percent)

y Provision of consulting and services to more than 5,000 companies and employers

y Largest German occupational pensions broker

y Established in the market for independent consulters behind

international firms such as Mercer, Watson Wyatt and Aon Jauch & Hübener

Æ High potential for 2012 and beyond

(13)

Niche player Product offering Universal High street banks Private banks “Very HNWI Clients” “Affluent Clients” “HNWI Clients” Direct banks

MLP and Feri cover the whole market

Wealth management

High street banks

(14)

Page 14

New structure at Feri enables even better

coverage of changing investor needs

Feri Investment Services GmbH Feri AG MLP AG (100 %) Business Support Feri EuroRating Services AG Rating & Research y Feri S.à.r.l., Paris 100 % Feri Trust GmbH Investment Management y Düsseldorf Office y Munich Office y Milan Office y Vienna Office 100 % Feri Institutional & Family Office GmbH Consulting / Family Office 100 % 100 % Institutional Trust Management Company S.à.r.l., Luxemburg (ITM) Fund Administration 100 % Wealth management

(15)

Successful development of Assets under

Management

8 10 12 14 16 18 20 2008 2009 2010 2011

Assets under Management in the MLP group

14.0 17.0 19.8 Wealth management 20.2 [in € billion]

(16)

Increasing sceptical perception of the statutory

healthcare system

Revenue health insurance

• Shortening of the waiting period to change to private health insurance at the beginning of 2011

• Increasing sceptical perception of the statutory healthcare system following the most recent healthcare reform

10 30 50 70 2010 2011 61.3 79.9 [in € million] Health insurance

(17)

Clear advantages through holistic consulting

approach

FY 2005

(Revenue from commissions and fees: € 467.9 million)

FY 2011

(Revenue from commissions and fees: € 498.5 million)

Old-age provision Wealth management Health insurance Non-life insurance Loans and mortgages

Other commissions and fees

80% 3% 10% 4% 2% 59% 16% 16% 6% 3% 1% 1%

(18)

Page 18

Agenda

• MLP at a glance

• Outlook

• Top line development

• Bottom line development

• Earnings situation

• Summary

(19)

Reduction in fixed costs to around € 249 million

Development of fixed costs

y 2011: Adjusted fixed costs reduced by € 6.3 million y Investment and efficiency

programme remains on track y No one-off exceptional costs

expected in 2012 230 240 250 260 270 280 2010 2011 2012e 279 249 [in € million] 273*

(20)

Page 20

Agenda

• MLP at a glance

• Outlook

• Top line development

• Bottom line development

• Earnings situation

(21)

Total revenues

Revenue Other revenue

[in € million]

Revenue from commissions and fees Interest income

Q4: Total revenues increased by 9 percent

Continuing operations Q4 2011 6.0 183.0 175.6 189.0 8.7 165.1 158.8 6.3 173.7 Q4 2010 50 0 100 150 200 2011 18.8 526.7 498.5 28.2 25.3 497.3 25.2 472.2 2010 545.5 522.6 200 400 600 + 9% + 4% 7.3

(22)

Page 22

MLP achieved growth in all consulting areas

[in € million]

Old-age provision Wealth management Health insurance Non-life insurance Loans and mortgages*

Other commissions and fees

Revenue from commissions and fees

Continuing operations 292.9 13.5 4.4 123.3 4.2 1.5 105.6 4.3 1.6 288.3 12.2 4.0 17 -2 -6 2 79.9 28.9 20.7 4.0 21.8 4.0 61.3 27.9 -5 0 30 4 78.8 22.0 21.5 2 78.5 0 10 11 2011 Q4 2011 Q4 2010 Δ in % 2010 * without MLP Hyp Δ in %

(23)

Significant increase in operating EBIT

EBIT development

0 20 40 60 + 11% + 11% 47.0 52.3 42.2 18.9 33.4 2009 2010 2011 Adjusted One-offs 2011 Reported [in € million]

(24)

Page 24

Reduction in adjusted fixed costs

by € 6.3 million

Fixed costs* – after adjustment for one-offs

250 260 270 280 290 300 310 Reported 33.4 One-offs 272.8 Adjusted 306.2 279.1 2011 2010 [in € million]

(25)

Dividend increases to 60 cents per share

0 10 20 30 40 50 60 2008 2009 2010 2011 [cents]

Dividend per share

28 ₂₅ 30 y Constant regular dividend despite one-off exceptional cost y In addition, return of surplus liquidity 60 30 30

(26)

Page 26

Agenda

• MLP at a glance

• Outlook

• Top line development

• Bottom line development

• Earnings situation

(27)

Summary

• Despite the continuingly difficult market environment, in 2011 MLP

developed successfully from an operating perspective.

• Through its investment and efficiency programme, MLP has

initiated important measures for the future.

• MLP benefits from the new breadth in its business model.

• In 2012 the market conditions remain challenging, but growth

anticipated in all three core areas.

(28)

Contact

MLP Investor Relations Alte Heerstr. 40 69168 Wiesloch Germany

Jan Berg, Head of Corporate Communications

Tel.: +49 (0) 6222 308 4595

Fax: +49 (0) 6222 308 1131

[email protected] www.mlp-ag.com