All Stories
Follow
Subscribe to OVB Holding AG

OVB Holding AG

EANS-News: OVB Holding AG: earnings considerably improved

--------------------------------------------------------------------------------
  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.
--------------------------------------------------------------------------------
quarterly report


Köln (euro adhoc) - growth in financial consultants, customers and new contracts
- continuously positive business development in the Southern and Western Europe
segment

Cologne, 8 November 2012 - The OVB Group, which operates in 14 European
countries, increased its operating income by a total of 79.3% year on year to
E7.2 million in the first nine months of 2012. All segments contributed to this
positive development. In Central and Eastern Europe, EBIT of E8.9 million (E8.1
million) was generated, while in Germany the figure was E4.3 million (E4.0
million). The Southern and Western Europe segment achieved a break-even result
following a loss of E1.6 million in the same period of the previous year. In the
reporting period, the Group's EBIT margin, based on overall sales commissions,
reached 4.6%, after 2.5% in the first nine months of the previous year. 

Key to this positive development were the Group-wide measures introduced, with
which OVB wishes to expand its market position in Europe further. "The progress
achieved confirms our efforts so far have been worthwhile. The optimisation of
processes and costs in administrative areas as well as the improvement in
earnings achieved have further strengthened our financial basis. We can thus
invest in a targeted manner in the further development and expansion of sales in
order to become the leader in system sales in Europe," explains Michael
Rentmeister, Chief Executive Officer of OVB Holding AG. 

In the home market of Germany, Lutz Richter (38) will be responsible for
managing corresponding measures in future. With effect from 1 January 2013, the
proven expert will assume the area of responsibility of Sales at the German
national company OVB Vermögensberatung AG. This expansion of the Executive Board
makes clear that, contrary to the current competitive trend, OVB is further
expanding its activities on the market.

The OVB Group's total sales commission of E155.6 million was nearly at the level
of the same period of the previous year (E162.0 million). The pleasing business
development in Southern and Western Europe also continued after nine months of
the 2012 financial year. In the nine-month period, total sales commission in all
countries countries of the segment, with the exception of Greece, rose
considerably from E17.2 million by 14.0% to E19.6 million. 
In the reporting period, OVB's business in the countries of Central and Eastern
Europe remained stable. In the first nine months of 2012, sales here were E91.0
million, 3.5% below the previous year's figure (E94.3 million) after extremely
strong growth in the same period of the previous year. In the reporting period,
sales in Germany were E45.0 million, largely similar to the industry as a whole
and below the previous year's figure (E50.4 million).

The number of new contracts concluded across Europe increased by 5.8% to 410,298
(387,776). As of 30 September 2012, the number of clients grew by 3.5% from 2.84
million in the previous year to 2.94 million. In the last 12 months, the number
of consultants was increased by 4.9%, with 5,060 financial consultants currently
working full-time for OVB (4,822). "The growth achieved by OVB's sales force
confirms in an impressive manner our expertise and attractiveness as an
internationally aligned financial services provider that successfully positions
itself in the consultancy market as a 'company for entrepreneurs'," says Michael
Rentmeister.

In the medium term, too, the growing need for private coverage and provision
solutions offers OVB just as good growth potential as before. With a view to the
last few weeks of 2012, Michael Rentmeister is confident that OVB will achieve
sales at a level approaching that of the previous year. As in the period from
January to September 2012, earnings to be expected for 2012 as a whole will be
considerably above the previous year's figure. 

About the OVB Group
The OVB Group, with its holding company headquartered in Cologne, is one of the
leading European financial sales organisations. Since the formation of OVB
Vermögensberatung AG in Germany in 1970, customer-oriented consulting for
private households in the areas of insurance coverage, asset building and
appreciation, pension provision and real estate acquisition have formed the
focus of OVB's business activities. OVB currently advises 2.94million customers
across Europe, working in cooperation with more than 100 renowned product
partners. OVB is presently active in 14 countries, with 5,060 full-time
financial consultants working for the Group. In 2011, OVB Holding AG and its
subsidiaries generated total sales commission of E222.1 million and EBIT of E6.1
million. The OVB Holding AG share has been listed on the Frankfurt Stock
Exchange (Prime Standard, ISIN DE0006286560) since July 2006.
Internet: www.ovb.ag
A presentation and the 2012 Nine-Month report can be downloaded from the
Investor Relations section of www.ovb.ag.

Further information:

http://www.ovb.ag/InvestorRelations/IRInformationen/Archiv2012/IRInformation08112012.aspx

Brigitte Bonifer
Investor Relations
Telefon: 0221 / 2015-288
Telefax: 0221 / 2015-325 
bbonifer@ovb.de

Antje Schweitzer
Public Relations
Telefon: 0221 / 2015-153
Telefax: 0221 / 2015-138 
aschweitzer@ovb.de


Further inquiry note:
Brigitte Bonifer
Investor Relations
Tel.: +49 (0)221 2015 288
E-Mail:  bbonifer@ovb.de

end of announcement                               euro adhoc 
--------------------------------------------------------------------------------


company:     OVB Holding AG
             Heumarkt  1
             D-50667 Köln
phone:       +49 (0)221 2015 0
FAX:         +49 (0)221 2015 264
mail:         ovb@ovb-holding.ag
WWW:      www.ovb.ag
sector:      Financial & Business Services
ISIN:        DE0006286560
indexes:     CDAX, Classic All Share, Prime All Share
stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart,
             regulated dealing/prime standard: Frankfurt 
language:   English

Original content of: OVB Holding AG, transmitted by news aktuell

More stories: OVB Holding AG
More stories: OVB Holding AG