MLP SE Reinhard Loose, CFO
Munich, September 23, 2015
MLP at a glance 3
Benefits for shareholders 7
Key Financials 14
Impact of regulation 20
Outlook MLP 25
MLP Group
The MLP Group
The Partner for all financial matters | Private Clients - Companies - Institutional Investors
MLP
Finanzdienstleistungen AG
FERI AG
DOMCURA AG
TPC GmbH
Dialog Partner for all financial matters
The investment expert for institutional investors and high net-worth individuals
The underwriting agency, focussing on private and commercial non-life insurance
The specialist in occupational pension provision management
The views and expectations of our clients always represent the starting point in each of these fields
We examine the offers of all relevant product providers in the market
We then present our clients with suitable options in a comprehensible way so that they can make the right financial decisions themselves
Our product ratings are based on scientifically substantiated market and product analyses.
Consulting services throughout Germany for private, corporate and institutional clientsMLP Group
MLP:
Approximately 1,950 client consultants
Approximately 160 offices - at least one at every university location
Approximately 1,300 employees at company HQ and at local offices
FERI:
Approximately 220 employees
International locations: Vienna, Zurich and Luxembourg
DOMCURA:
Approximately 290 employees
Around 5.000 market participants as business
partners (insurance brokers, pools, sales offices)
TPC:
Approximately 25 employees
Client consulting together with MLP client consultants
Clients
More than 845,000 private clients in the mass affluent segment of the market target groups: graduates
(i.e. physicians, solicitors, engineers and economists)
Over 200 private clients in the HNWI market & over 5,000 corporate clients, employers and institutional clients
Main business areas
Old-age provision
Wealth Management
Brokered premium sum for new business totalled € 4.1 billion in 2014. Occupational pension provision accounted for around 12% of this figure.
€ 27.5 billion in assets under management as at December 31, 2014 in business with mass affluent clients, HNWI and institutional investors.
Share of revenue '14 49%
30%
Health insurance
Private health insurance, supplementary private health insurance,
long-term care, occupational health insurance, statutory health insurance. 9%
Top Financials
FY 2014: | ||||
Total revenue: | € 531.1 million | Equity Ratio: 23.2% | Dividend per share: | € 0.17 |
EBIT: | € 39.0 million | Core Capital Ratio: 13.6% | Return on Equity: | 7.8% |
Net profit: | € 29.0 million |
MLP Share
Shares outstanding: 109,334,686
Free Float: 48.74% (Definition on the German stock exchange)
Average daily trading volume: 70,800 (Xetra, 12-month average as at August 31st, 2015)
MLP at a glance 3
Benefits for shareholders 7
Key Financials 14
Impact of regulation 20
Outlook MLP 25
More diversified revenue mix and
cost control
1 Stability
Attractive dividend policy
Attractive ROI
Stable shareholder structure
Consistency in strategy
Company pensions
2004
Formation
of business division 'company pensions'
2008
Acquisition of TPC
Wealth Management
2006
MLP acquires stake in FERI AG
2011
MLP acquires
the remaining shares in FERI as scheduled
Broadening Non-life
2015
Acquisition of DOMCURA Group
Underwriting agency
Further, strategically relevant business segment
Significant potential with existing business
Real estate
2011
Start of
real estate offerings
2014
Expansion of the real estate offerings
FY 2005 FY 2014
Revenue from commissions and fees: € 467.9 million Revenue from commissions and fees: € 486.9 million
10%
4%2%1%
3%2%
7%
Old-age provision incl. occupational pension business
3% 9%
Wealth management
Health insurance
Non-life insurance
Loans and mortgages
80%
30%
49%
Other commissions and fees (i.e. real estate)
Consultancy
(Sales commission)
Underwriting agencyProduct sales
Application
Contract
Collection/
disbursement
Claim
Claim
Risk carrying
(Administration and additional sales commission)
Insurers(Risk margin)
Consulting + conclusion
Service + administration
Risk carrier
Administrative costs*
in € million
311.6
295.5
279.1
274.3**
251.6 250.6
256.8 255***
Definition: Personnel expenses, depreciation and amortisation and other operating expenses
** Adjusted to include one-off expenses
*** Excluding Domcura
Return on dividend
in %
12
In the future, pay-out ratio of
10
50% to 70% of Group net profit
8
At the same time capital is required for:
Acquisitions
Investments
Capital management (Basel III)
6
4
2
0
2009 2010 2011*
2012 2013 2014
* Including special dividend
Stable shareholder structure 3Share details
WKN: 656 990
ISIN: DE0006569908
Börsen: XETRA, Frankfurt, other regional exchanges
Shareholder structure
Dr. h. c. Manfred Lautenschläger 23.22% HDI 9.36%
Barmenia 5.49%
Allianz SE 6.18%
Angelika Lautenschläger 5.94% Freefloat (Def. Deutsche Börse) 49.81% Harris Associates 9.69%
FMR LLC 7.00%
Joh. Berenberg Gossler & Co KG 4.78% Schroders PLC 3.03%
Freefloat
Dr. h. c. Manfred Lautenschläger
Angelika Lautenschläger
Barmenia Allianz SE
HDI Pensionskasse
Equinet/ESN | Accumulate | PT 4.50 |
Bankhaus Lampe | Buy | PT 5.00 |
Main First | Underperform | PT 3.60 |
Independent Research | Hold | PT 4.50 |
HSBC Global Research | Underweight | PT 3.90 |
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