08.05.2013
OVB Holding AG DE0006286560
DGAP-News: Solid first quarter of 2013 for OVB
DGAP-News: OVB Holding AG / Key word(s): Quarter Results/Quarter
Results
Solid first quarter of 2013 for OVB
08.05.2013 / 07:30
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Solid first quarter of 2013 for OVB
- Total sales climb to EUR54.8 million
- EBIT rises 12.7%
- Client growth with stable consultant development
- Outlook for 2013 confirmed
Cologne, 8 May 2013 - OVB generated total sales commission of EUR54.8
million in the first quarter of 2013 (EUR54.3 million). EBIT climbed by
12.7% to EUR2.2 million (EUR1.9 million). At EUR1.7 million, net income
exceeded the figure for the same quarter of the previous year by 16.0%
(EUR1.4 million).
'2013 has begun solidly for us. Our business performance in Southern and
Western Europe in particular was again very encouraging,' said CEO Michael
Rentmeister when presenting the figures.
Business development in the regions
Business in the countries of Central and Eastern Europe was kept stable at
a high level. Brokerage income amounted to EUR30.8 million (EUR31.5
million). Total sales commission of EUR15.9 million was generated in
Germany (EUR15.7 million). In the six countries of the Southern and Western
Europe segment, total sales commission rose strongly by 14.5% in the first
three months of 2013 to EUR8.1 million Euro (EUR7.1 million). Growth
impetus was mainly created in Italy, Spain and Switzerland.
Consolidated EBIT climbed to EUR2.2 million (EUR1.9 million), an increase
of 12.7% as against the prior-year figure. The EBIT contribution from
Central and Eastern Europe was EUR2.6 million (EUR2.7 million). Germany
matched the previous year's figure of EUR1.4 million in 2013. A significant
improvement in earnings was achieved in the Southern and Western Europe
segment. EBIT here went from a loss in the previous year to income of
EUR0.5 million (EUR-0.1 million). The EBIT margin - calculated on the basis
of total sales commission - was 4.0% (3.6%).
Consolidated net income for the period from January to March 2013 amounted
to EUR1.7 million (EUR1.4 million), resulting in basic earnings per share
of EUR0.12 (EUR0.10) with the same number of shares.
Client growth with stable consultant development
OVB gained additional customers in all segments: Over the last twelve
months, customer numbers have risen from 2.89 to 3.0 million. The number of
OVB financial consultants remained stable year-on-year. However, the
unclear political and regulatory situation in some countries of the Central
and Eastern Europe segment was countered by a rise in consultant numbers.
Outlook
OVB is confident in its outlook for 2013 as a whole and it is standing by
its forecast for the year: a sales increase in the mid-single digits,
earnings growth of 10% to 15%. 'Market conditions are difficult in 2013 as
well. Despite a growing awareness of the problem, it is still a challenge
for the people of Europe to take responsibility for their own pensions. The
reasons for this are varied: The ongoing European debt crisis and therefore
persistently low interest rates are making it difficult to generate a
return on savings and pension assets above the rate of inflation. In some
countries we are currently seeing that political support for necessary
pension reform is faltering, a fatal signal to people facing necessary
pension decisions. Regular changes in regulatory conditions on the one hand
and media reporting that the public find troubling on the other are fanning
consumer reluctance regarding urgently needed private pensions,' said
Rentmeister of the challenge of 2013.
About OVB Group
OVB Group, with its holding company headquartered in Cologne, is one of the
lead-ing European financial sales organisations. Since its founding in
1970, customer-oriented consulting for private households with regard to
asset protection, asset building, pension plans and real estate acquisition
has been the focus of OVB's business activities. OVB currently advises some
3.0 million customers across Europe, working in cooperation with over 100
renowned product partners. OVB is presently active in 14 countries, with
roughly 5,000 full-time financial consultants working for the Group. In
2012, OVB Holding AG and its subsidiaries generated total sales commission
of EUR214.7 million and EBIT of EUR10.5 million. OVB Holding AG has been
listed on the Frankfurt Stock Exchange (Prime Standard, ISIN DE0006286560)
since July 2006.
Read more:
http://www.ovb.ag/PublicRelations/Pressemitteilungen/Archiv2013/Pressemitt
eilung08052013.aspx
The presentation of the results of the first quarter and the interim report
can be downloaded from the Investor Relations section of www.ovb.ag.
This press release is also available on the Internet at:
www.ovb.ag - Press - Press Releases
End of Corporate News
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08.05.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: OVB Holding AG
Heumarkt 1
50667 Köln
Germany
Phone: +49 221 2015 - 0
Fax: +49 221 2015 - 264
E-mail: [email protected]
Internet: www.ovb.ag
ISIN: DE0006286560
WKN: 628656
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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