Financial results Q1 2018 Reinhard Loose, CFO Wiesloch, May 15, 2018 Page 1
Agenda Highlights Q1 2018 Key financial figures Q1 2018 Consultants and clients Summary and outlook Questions and answers Page 2 MLP Q1 2018 financial results
Highlights Q1 2018 Total revenue up by 3 % to € 167.9 million – MLP is increasingly benefiting from the strategic diversification of revenue streams that has been performed over the last few years EBIT up to € 13.0 million – previous year's high earnings level repeated ( € 12.5 million) Outlook for 2018: EBIT still anticipated at the previous year's level of operating EBIT ( € 46.7 million) – despite greater investments in the future in the university segment Page 3 MLP Q1 2018 financial results
Agenda Highlights Q1 2018 Key financial figures Q1 2018 Consultants and clients Summary and outlook Questions and answers Page 4 MLP Q1 2018 financial results
Q1: Total revenue increases to € 167.9 million Total revenue Q1 In € million 167.9 163.0 160.4 153.8 Revenue 164.7 Commission income 158.9 Interest income Other revenue 5.1 4.4 4.0 3.2 Q1 2017 Q1 2018 Page 5 MLP Q1 2018 financial results
Successful diversification beyond old-age provision Commission income in the first three months (all fields, excluding old-age provision) In € million 180,0 Ø growth: +10.2 % p. a. 160,0 140,0 126.7 118.6 120,0 107.4 100,0 78.3 80,0 67.0 68.0 67.9 67.4 60.0 60,0 51.8 50.3 46.1 48.8 36.0 40,0 20,0 0,0 Q1/2005 Q1/2006 Q1/2007 Q1/2008 Q1/2009 Q1/2010 Q1/2011 Q1/2012 Q1/2013 Q1/2014 Q1/2015 Q1/2016 Q1/2017 Q1/2018 Wealth management Health insurance Non-life insurance Loans and mortgages Real estate Other commission and fees Page 6 MLP Q1 2018 financial results
Increases in many consulting fields Revenue In € million in % Q1 2017 Q1 2018 Old-age provision -4 35.2 33.7 Wealth management 4 45.7 47.5 Non-life insurance 52.8 56.2 6 Health insurance 11.9 11.7 -2 Loans and mortgages* 3.8 5.2 37 Real estate brokerage** 44 3.4 4.9 Other commission and fees 1.1 1.2 9 Interest income 5.1 4.4 -14 ** Included in "Other commission and fees" in 2017 * Excluding MLP Hyp Page 7 MLP Q1 2018 financial results
Increased interest in occupational pension provision among clients Premium sum of new business in the Occupational pension provision: Assets under management in the old-age provision segment share of the brokered premium sum MLP Group In € million In € billion In percent 40 700 40 638 33.9 33.9 567 35 35 600 30 30 500 25 25 20.9 400 19.3 20 20 300 15 15 200 10 10 100 5 5 0 0 0 Q1 2017 Q1 2017 Q1 2018 Q1 2017 Q1 2018 Q1 2017 Q1 2017 Q1 2018 Dec 31, 2017 March 31, 2018 Q4 2017 Q1 2018 Dec 31, 2017 Page 8 MLP Q1 2018 financial results
Q1: EBIT increases to € 13 million Income statement In € million Q1 2017 Q1 2018 Total revenue 167.9 163.0 Q1 2018 13.0 13.3 13.0 Operating EBIT* Q1 2017 12.5 EBIT 12.5 13.0 Q1 2016 8.8 Q1 2015 7.0 Finance cost -0.4 -0.4 Q1 2014 3.4 12.6 EBT 12.0 Taxes -3.5 -3.3 9.3 Net profit 8.6 EPS in € 0.08 0.09 (diluted/basic) *Before one-off expenses Page 9 MLP Q1 2018 financial results
Equity ratio at 17.9 percent In € million Assets Dec 31, 2017 March 31, 2018 Equity ratio: 18.6 % Intangible assets 161.8 160.3 Financial assets 158.5 147.6 Core capital ratio: 17.9 % Receivables from clients in the banking business 702.0 708.7 Equity at around € 266 million Receivables from banks in the banking business 634.2 669.9 Other receivables and assets 125.7 132.9 Cash and cash equivalents 301.0 365.1 Initial adoption of IFRS 15 Liabilities and shareholders' equity (consequences) Shareholders' equity 404.9 422.1 • Increase in shareholders' equity of 11.9 Provisions 88.7 95.4 € million (at the same time opposing Liabilities due to clients in the banking business 1,439.8 1,480.1 effect by IFRS 9 of € -4.0 million) Liabilities due to banks in the banking business 61.4 67.4 • No more revenue resulting from the Other liabilities affected trail commissions in the old- 154.9 187.3 age provision segment Total 2,169.5 2,270.3 Page 10 MLP Q1 2018 financial results
Net liquidity of around € 260 million As of March 31, 2018 In € million 2.500 2.000 133 1.500 1.472 1.379 1.379 1.000 500 103 103 103 248 508 365 365 365 365 260 260 0 Cash and cash equivalents Financial investments <1 Receivables from banking Other receivables Liabilities due to the banking Short-term liabilities and Net liquidity year business business other liabilities Page 11 MLP Q1 2018 financial results
Agenda Highlights Q1 2018 Key financial figures Q1 2018 Consultants and clients Summary and outlook Questions and answers Page 12 MLP Q1 2018 financial results
Number of family clients increases to 532,100 Family clients Consultants 550000 532,100 519,800 519,800 2000 1,913 1,890 500000 1800 450000 1600 400000 1400 350000 1200 1000 300000 March 31, 2017 March 31, 2018 March 31, 2017 March 31, 2018 Q1 2017 Q1 2018 Gross 4,900 4,000 number of new clients Page 13 MLP Q1 2018 financial results
Agenda Highlights Q1 2018 Key financial figures Q1 2018 Consultants and clients Summary and outlook Questions and answers Page 14 MLP Q1 2018 financial results
Outlook for 2018 confirmed Qualitative assessment of revenue development Earnings trend In € million Revenue 2018 50 46.7* Old-age provision + 9.1 40 35.1* Wealth management 0 30.7 30 Health insurance 0 15.4 Non-life insurance + 20 37.6 Loans and mortgages 0 10 19.7 Real estate brokerage 0 0 2015 2016 2017 2018 e very positive: ++, positive: +, neutral: 0, negative: -, very negative: -- EBIT expenses One-off expenses *Operating EBIT MLP is anticipating EBIT in 2018 to be at the level of operating EBIT recorded in 2017 – EBIT is likely to increase significantly, as there are no special expenses scheduled for 2018 Page 15 MLP Q1 2018 financial results
Summary Sales revenue and earnings increased in the first quarter – providing a sound basis for the rest of the year Market environment remains challenging, especially in the old-age provision and health insurance areas – political uncertainties persist The further development of the university segment is starting to bear fruit – further acceleration in acquiring new consultants anticipated Outlook unchanged: EBIT at the level of the previous year's operating EBIT – significant increase anticipated over the EBIT recorded in 2017 Page 16 MLP Q1 2018 financial results
Agenda Highlights Q1 2018 Key financial figures Q1 2018 Consultants and clients Summary and outlook Questions and answers Page 17 MLP Q1 2018 financial results
Contact MLP Corporate Communications Alte Heerstr. 40 69168 Wiesloch Deutschland Frank Heinemann, Head of External Communications Andreas Herzog, Head of Investor Relations and Financial Communications Tel.: +49 (0) 6222 308 8320 Fax: +49 (0) 6222 308 1131 investorrelations@mlp.de www.mlp-se.com Page 18 MLP Q1 2018 financial results
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