MLP SE Q3 2021 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Philipp HS¯ler - Pareto Securities AS, Research Division - Analyst : Yes, Philipp Ha+Yler from Pareto. So I have to find another question now that the net inflows question has already been answered. Thank you for that. Yes. Firstly, on the inventory changes you booked in Q3, EUR 10.5 million use. Could you perhaps elaborate a little bit on this? What I mean is this that you made some progress on the project or was it that you have been granted building permits for land? Maybe you could shed some light on this? Then secondly, on your outlook for the current year, significantly above the upper end. Could you perhaps be a little bit more concrete or particularly in the old-age provision business? What have you seen so far in this quarter? Do you think last year's level is achievable? I mean, if we saw a good quarter, you could already reach your 2022 target this year. Maybe you could elaborate a little bit more on this, although I know you don't like this too much. And last but not least, non-life insurance business was very strong this year, plus 10%. This is also related to COVID-19 somehow, but that your customers look for more security, that they are more risk-averse. This is a trend, which may continue or has there been any special reason for this development?

Question: Philipp HS¯ler - Pareto Securities AS, Research Division - Analyst : But I mean, it has been only a 12.3% for the first 9 months. Those -- this Q now that there is no -- that there was no lockdown anymore that you had such a strong Q3, so some catch-up effects or?

Question: Philipp HS¯ler - Pareto Securities AS, Research Division - Analyst : Yes.