COMPANY PRESENTATION Star Conference - Milan 25-26 March 2014
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
Presenters today •Group Chairman and Head of Broking Division •Founder and key shareholder (16.25% indirectly through Alma Ventures SA) •Background in consulting (McKinsey) and banking (Morgan Stanley) •Degrees in Electrical Engineering and Computer Science, MBA from MIT Marco Pescarmona •Group CEO and Head of BPO Division •Founder and key shareholder (16.25% indirectly through Alma Ventures SA) •Background in consulting (Booz Allen & Hamilton) in Italy and USA •Degree in Industrial Engineering, MBA from MIT Alessandro Fracassi •Group CFO •Background in auditing (Arthur Andersen) and in administration, fiscal and corporate affairs (Società Interbancaria per l’Automazione) •Degree in Economics Francesco Masciandaro 3
Share performance 6 June 2007 (IPO date) – 21 st March 2014 15% 10% 5% 0% -5% -10% -15% -20% -25% -30% -35% -40% -45% -50% -55% -60% -65% -70% MOL Total Return vs. MOL vs.FTSE ITALIA STAR 4
Current shareholding structure Shareholding structure as of 21 st March 2014 * * 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.r.l. and 50% by Casper S.r.l.; Guderian S.r.l. is 100% owned by Marco Pescarmona (Chairman and co-founder) Casper S.r.l. is 100% owned by Alessandro Fracassi (CEO and co-founder). 5
Business portfolio 2013 2013 Divisions Revenues € 20.5 M Revenues € 30.5 M Broking BPO EBIT € 1.8 M EBIT € 3.8 M Division Division Business Lines Multi-brand broking of Commercial, Underwriting and € 8.3 M € 13.1 M mortgages through remote Portfolio Services for Mortgages channels and agents MutuiOnline FEC+CEI FEC+CEI CreditPanel Underwriting and Portfolio € 13.5 M Services for Secured Loans Multi-brand broking of loans CLC € 5.1 M through remote channels PrestitiOnline € 3.9 M Claim processing and portfolio services for insurances CPA Back Office services for Financial Multi-brand broking of insurances € 6.7 M Adivisors Networks and Asset through remote channels Management Companies CercAssicurazioni 6 6 Note: Broking Division revenues includes other revenues amounting to € 360,000
Broking Division – Top Brands/Services 1/2 BRAND DESCRIPTION MARKET POSITION OPERATIONS REVENUE MODEL Online Mortgage Leader in online Experienced telephone Commission from Broker (vertical mortgage consultants provide lenders on closed specialist), distribution since independent advice and mortgages (normally % comparison- year 2000. qualify all online applications, of mortgage amount), based. which are then transferred to one-off. May include chosen banks for closing. volume incentives. Free Operates as a qualified lead for consumers, with no generator without any mark-up. packaging (no paperwork). Online Consumer Leader in online Online lead generation for Commission from Loan Broker personal loan lenders, with support of lenders on closed (vertical broking. telephone consultants. No mortgages (normally % specialist), packaging. of loan amount), one- comparison off. Free for consumers, based. with no mark-up. Online First specialized Mostly technology based. Remunerated by banks Comparison player, market still for promoting their of Current an very small. products, with variety of Saving Accounts formulas (per click, per (vertical application, per specialist). account, etc.). 7
Broking Division – Top Brands/Services 2/2 BRAND DESCRIPTION MARKET POSITION OPERATIONS REVENUE MODEL Online Insurance Legacy brand as Mostly technology based Fee on new policy sales Broker (vertical customer lead generation, provides plus (lower) renewal specialist), acquisition for customer support phone fees from insurance comparison- insurance has operations. No policy companies. Free for based, mostly shifted to issuance. consumers, with no motor. Segugio.it brand. mark-up. Multi-product Launched in Focus on marketing activities, Same as for specialized aggregator for September 2012, mostly TV and Internet. With product brands. insurance, is number two the exception of utilities, personal loans, player in online relies on specialized mortgages, bank insurance regulated group companies accounts, utilities comparison, for provision of comparison (ADSL, energy) progressively and intermediation services with brand-driven reducing gap for specific products. customer versus leader, acquisition other players model. Focus on significantly Motor Insurance. smaller. Other products represent add-on and cross-selling opportunity. 8
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 Secured remote channels • Income Analysis • Claims Loans BPO • Centralized packaging • Anti-fraud checks • Portfolio analysis • Support for intermediary networks • Employer follow-up • Current account servicing • Consolidation of other loans • Portfolio internalizations • Closing preparation • Support for financial advisor • Fund subscriptions • Switches and exits Asset networks • Insurance subscriptions • Consolidation of fund orders Management • Anti-money laundering BPO • Support for online distribution N/A • Mass TPL claims management Insurance (e.g. property) BPO • Medical expense management • Self-insurance claims management • CPI claims management 9
Full-year Highlights EBIT Revenues (€m) (€m) 5.6 Y-o-Y +54.2% 3.6 51.0 Y-o-Y +32.5% 38.5 EBIT margin 9% 11% Net Income* (€m) Y-o-Y 3.5 3.4 +3.1% NI margin 9% 7% 10 * Attributable to the shareholders of the Issuer
Performance by Division EBIT Revenues (€m) (€m) 5.6 Y-o-Y Y-o-Y +54.2% 1.8 3.6 -38.5% 51.0 2.9 Y-o-Y 3.8 Y-o-Y +435.6% +32.5% Y-o-Y 0.7 38.5 +18.6% 20.5 17.3 Broking Division BPO Division Y-o-Y 30.5 +43.8% EBIT margin 21.2 2012 2013 Broking Division 17% 9% BPO Division 3% 12% Broking Division BPO Division Total 9% 11% 11
Historical Revenue Trends Broking Division Revenues (€m) 41.9 6% 32.8 31.7 2% 25% Group Revenues 27.8 (€m) 32% 32% 22.7 20.5 31% 17.3 2% 18% 71.8 1% 33% 69% 12.7 22% 68% 69% 18% 66% 25% 30% 82% 82% 40% 47% 53.4 51.0 47.9 46.3 58% 38.5 40% 37.7 61% 45% BPO Division Revenues 21.8 (€m) 60% 30.5 29.9 42% 55% 13% 14% 39% 20.6 21.2 18.5 44% 16.2 26% 15.0 86% 50% 31% 31% 26% 9.1 74% 17% 43% 69% 69% 74% 50% 83% 12
Historical Profitability EBIT EBIT margin (€m) (%) 30.9 59% 21.9 22.0 20.9 17.6 77% 84% 8.5 3.6 5.6 28% 80% 23% 32% 16% 20% 68% Net income (€m) Note: (a) Excludes one off costs related to restructuring of the Group and the IPO of the Company amounting to €816,000 13
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