Company Presentation Star Conference - Milan 24-25 March 2015
Disclaimer Certain statements contained herein are statements of future expectations and other forward-looking statements. These expectations are based on management's current views and assumptions and involve known and unknown risks and uncertainties. The user of such information should recognize that actual results, performance or events may differ materially from such expectations because they relate to future events and circumstances which are beyond Company control including, among other things, general economic and industry conditions. Neither Gruppo MutuiOnline S.p.A. nor any of its affiliates, directors, officers employees or agents owe any duty of care towards any user of the information provided herein nor any obligation to update any forward-looking information contained in this document. Neither this presentation nor any part or copy of it may be taken or transmitted into the United States (US) or distributed, directly or indirectly, in the US or to any “US person”, as that term is defined in the US Securities Act of 1933, as amended, (the “Securities Act”). Neither this presentation nor any part or copy of it may be taken or transmitted into Australia, Canada, Japan or to any resident of Japan, or distributed directly or indirectly in Australia, Canada, Japan or to any resident of Japan. Any failure to comply with this restriction may constitute a violation of US, Australian, Canadian or Japanese securities laws. This presentation does not constitute an offer of securities to the public in the United Kingdom. Persons to whom this presentation is shown should observe all restrictions. By attending the presentation you agree to be bound by the foregoing terms. 2
Presenting Today Marco Pescarmona Alessandro Fracassi Group Chairman and Head of Broking Division Group CEO and Head of BPO Division • Founder and key shareholder • Founder and key shareholder (16.25% (16.25% indirectly through Alma indirectly through Alma Ventures SA) Ventures SA) • Background in consulting (McKinsey) • Background in consulting (Booz and banking (Morgan Stanley) Allen & Hamilton) in Italy and USA • Degrees in Electrical Engineering and • Degree in Industrial Engineering, Computer Science, MBA from MIT MBA from MIT 3
Agenda Business Description � � Current Trading and Outlook � Acquisition of Trovaprezzi � Long-term Potential 4
Major milestones of our 15-years lifespan START-UP GROWTH RESTRUCTURING NEW GROWTH 2015 BPO Division is Broking: Segugio.it is born Launched MutuiOnline.it Launched BPO: Services BPO: Insurance extended to CQS Services Introduced PresitiOnline.it BPO: Asset Management MOL IPO Launched services introduced Broking: Insurance Break-Even Comparison is introduced BPO: Acquisition of Broking: Acquisition of Quinservizi TrovaPrezzi.it 5
Business portfolio Divisions FY 2014 FY 2014 Broking BPO Revenues € 25.1 M Revenues € 43.2 M Division Division EBIT € 5.2 M EBIT € 9.3 M Business Lines % Division revenues Multi-brand broking of Commercial, Underwriting Mortgage Mortgage mortgages through remote and Portfolio Services for 15.8% 24.4% Broking BPO channels and agents Mortgages Multi-brand broking of Underwriting and Portfolio Consumer Loan CQS loans through remote 7.8% 22.2% Services for Loans Guaranteed Broking BPO channels by Salary or Pension Multi-brand broking of Claim processing and Insurance Insurance insurance products 11.9% 8.7% portfolio services for Broking BPO through remote insurance companies channels Price and product Back Office services for Financial E-Commerce Price Asset Management N/A 7.9% comparison of physical Adivisor Networks and Asset BPO Comparison goods sold by e-tailers ��� Management Companies Note: Other revenues of Broking Division are 1.3% of total revenues 6
Broking Division – Top brands Brand Description Market Position Operations Revenue Model Multi-product Launched in September Focus on marketing activities, Commission on new policy sales aggregator for 2012, is number two player in mostly TV and Internet. With the plus (lower) renewal fees from insurance, personal online insurance exception of utilities, relies on insurance companies. Free for loans, mortgages, bank comparison, rapidly specialized regulated group consumers, with no mark-up. accounts, utilities (ADSL, reducing gap versus leader, companies for provision of Fee on sales of utility contracts. energy) with brand- other players significantly comparison and intermediation driven customer smaller. Other products services for specific products. Same remuneration for credit acquisition model. Focus represent add-on and cross- products as for specialized on Motor Insurance. selling opportunity. brands. Online Mortgage Broker Leader in online Experienced telephone Commission from lenders on (vertical specialist), mortgage distribution consultants provide closed mortgages (normally % comparison-based. since year 2000. independent advice and of mortgage amount), one-off. qualify all online applications, May include volume incentives. which are then transferred to Free for consumers, with no chosen banks for closing. mark-up. Operates as a qualified lead generator without any packaging (no paperwork). Online Consumer Loan Leader in online Online lead generation for Commission from lenders on Broker (vertical personal loan broking. lenders, with support of closed mortgages (normally % specialist), comparison telephone consultants. No of loan amount), one-off. Free based. packaging. for consumers, with no mark-up. ��� Click generation for Online price and Market leader Mostly cost-per-click with merchants. Full integration of differentiated pricing by product comparison of merchant product catalogs. product category, some cost- physical goods sold by Continuous merchant quality per-sale agreements e-commerce operators review. Over 2500 merchants served with dedicated telephone phone sales force. 7
BPO Division – Main services Product Life Cycle DISTRIBUTION UNDERWRITING/CLOSING SERVICING • Commercial activities for online • Income Analysis • Current Account Servicing Mortgage lenders (in lenders’ name) • Technical-Legal Analysis • Collections BPO • Centralized packaging • Anti-fraud checks • Delinquencies • CRM activities for origination • Real-estate appraisals process • Notary coordination services • Support for intermediary networks • Contract drafting • Process coordination • Commercial activities through • Document analysis • Collections CQS remote channels • Income Analysis • Claims • Centralized packaging • Anti-fraud checks • Portfolio analysis BPO • Support for intermediary networks • Employer follow-up • Current account servicing • Consolidation of other loans • Portfolio internalizations • Closing preparation • Support for online distribution N/A • Mass TPL claims management Insurance (e.g. property) • Medical expense management BPO • Self-insurance claims management • CPI claims management • Support for financial advisor • Fund subscriptions • Switches and exits Asset networks • Insurance subscriptions • Consolidation of fund orders Management • Anti-money laundering BPO 8
Current shareholding structure Shareholding structure as of 16 th March 2015 * Treasury shares Alma Ventures** Free Float 360 Capital One Stefano Rossini Investmentaktiengesellschaft für Frankfurter langfristige Investoren TGV Aktienfonds für Stiftungen * Share ownership as communicated to the company by relevant investors according to CONSOB regulations; includes all investors above 2% ownership threshold. ** The share capital of Alma Ventures S.A. is owned 50% by Guderian S.p.A. and 50% by Casper S.r.l.; Guderian S.p.A. is 100% owned by Marco Pescarmona (Chairman and co-founder) Casper S.r.l. is 100% owned by Alessandro Fracassi (CEO and co-founder). 9
Share performance since IPO date (6 June 2007) KEY STOCK DATA as of 16 th Mar 2015 Number of Shares 39,511,870 Treasury Shares 2,602,644 Outstanding Shares 36,909,226 Price per Share € 7.00 Market Capitalisation € 258.4 M 10
Agenda Business Description � � Current Trading and Outlook � Acquisition of Trovaprezzi � Long-term Potential 11
Full-year highlights EBIT (€m) Revenues (€m) Y-o-Y +160.1% Y-o-Y +33.8% EBIT margin 11% 21% Net Income (€m) Y-o-Y +159.1% NI margin 7% 15% 12
Performance by Division EBIT (€m) Revenues (€m) Y-o-Y Y-o-Y +191.3% +160.1% Y-o-Y Y-o-Y Y-o-Y +33.8% +22.1% +145.4% Broking Division BPO Division Y-o-Y +41.7% EBIT margin (percent of revenues) 2013 2014 Broking Division 9% 21% Broking Division BPO Division BPO Division 12% 22% Total 11% 21% 13 13
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