13.11.2015
OVB Holding AG DE0006286560
DGAP-News: OVB on course after nine months (news with additional features)
DGAP-News: OVB Holding AG / Key word(s): Quarter Results/9-month
figures
OVB on course after nine months (news with additional features)
13.11.2015 / 07:44
---------------------------------------------------------------------
- Group sales up 6.2% year on year
- Operating income rises by 24.9%
- Positive outlook
Cologne, 13 November 2015 - the European financial advisory group OVB
Holding AG has continued on its growth trajectory in the first nine months
of the 2015 financial year. Group sales rose 6.2% compared to the first
nine months of 2014 to EUR165.7 million (Q1-Q3 2014: EUR156.0 million).
Earnings before interest and taxes increased to EUR10.3 million (Q1-Q3
2014: EUR8.3 million).
"We are satisfied with the first nine months of the 2015 financial year.
Our figures speak for themselves. We are growing because we have advised
more people. People do not independently concern themselves with their
financial planning in any of our markets. Without good advice, decisions on
personal insurance or pensions that need to be made urgently are
increasingly being put on the back burner. The low-interest-rate policy,
threat of overregulation and uncertainty in the media are therefore bearing
fruit that will cost many people dearly in the future, for example in the
form of old-age poverty. If this vicious circle is to be broken, we must
put an immediate stop to all new legislative proposals and create a climate
that makes the occupation of financial consultant more attractive again.
High-quality advice is not a cost factor, especially in times of low
interest rates. It becomes expensive only for those who do not seek advice
and make provisions. It is actually clear to everyone that consumers need
qualified advice in order to be financially secure in old age. For this
reason, financial brokers are essential," says Michael Rentmeister, CEO of
the OVB Group. "The market conditions are currently changing unnecessarily
at too rapid a pace. All market participants are therefore well advised to
concentrate on their own homework. That's what we're doing at OVB in any
case."
Growth in all segments
In the Southern and Western Europe segment, OVB increased sales by 18.3% to
EUR37.6 million in the first nine months of 2015 (Q1-Q3 2014: EUR31.8
million). This positive development was driven in particular by the
national companies in Spain, Austria and Switzerland.
In Germany, sales developed extremely positively in the first nine months
of 2015 and were well above expectations: they exceeded the previous year's
figure by 7.2%, reaching EUR47.4 million (Q1-Q3 2014: EUR44.2 million). "We
are pleased that the measures introduced in 2013 and 2014 are currently
showing results and we can thus hold our own in our home market based on
our own operating strength," said Michael Rentmeister when announcing the
nine-month results.
Despite weak markets in the Czech Republic and Poland caused by increasing
regulation, brokerage income in the Central and Eastern Europe segment rose
by 0.9% to EUR80.7 million in the reporting period (Q1-Q3 2014: EUR80.0
million). "Unfortunately, as a result of the ongoing regulation discussions
in these two countries, we have experienced a net loss of advisors. We
share this fate with the whole industry. Declining advisor numbers will
ultimately lead to an increase in inadequate retirement planning within the
population here, too. What can be achieved under stable conditions can be
seen in the rest of the Central and Eastern Europe segment, particularly in
Slovakia.
Substantial increase in earnings
Earnings increased disproportionately to sales, with all segments
contributing to an overall increase in earnings of 24.9%. The OVB Group's
operating income totalled EUR10.3 million on 30 September 2015 after EUR8.3
million in the same period of the previous year. In a year-on-year
comparison the Group's EBIT margin based on total sales commission improved
considerably from 5.3% to 6.2%. Earnings per share rose by 13.3%.
Slightly improved outlook for 2015
After nine months, OVB is raising its earnings forecast slightly for 2015
as a whole: the company expects sales to climb slightly in 2015 compared to
2014 and forecasts that operating income could rise again markedly as
against the significantly improved result for 2014. OVB had previously
anticipated stable earnings performance.
The full report on the first nine months of 2015 can be found at
www.ovb.eu/Financial reports. You can obtain further information from the
Investor Relations section at www.ovb.eu. This press release is also
available on the Internet at www.ovb.eu > in Dialogue > Press Releases
About OVB Group
OVB Group, with its holding company headquartered in Cologne, is one of the
leading 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 3.3
million customers across Europe, working in cooperation with over 100
renowned product partners.
OVB is presently active in 14 countries, with more than 5,000 full-time
financial advisors working for the Group. In 2014, OVB Holding AG and its
subsidiaries generated total sales commission of EUR214.0 million and EBIT
of EUR12.3 million. OVB Holding AG has been listed on the Frankfurt Stock
Exchange (Prime Standard, ISIN DE0006286560) since July 2006.
+++++
Additional features:
Document: http://n.equitystory.com/c/fncls.ssp?u=QSKFORQFPW
Document title: Nine-Month Report 2015
---------------------------------------------------------------------
13.11.2015 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
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.eu
ISIN: DE0006286560
WKN: 628656
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart
End of News DGAP News Service
---------------------------------------------------------------------
412763 13.11.2015
|
Weitere Ad-hoc und Unternehmensrelevante Mitteilungen zu
OVB Holding AG ISIN: DE0006286560 können Sie bei EQS abrufen
Finanzdienstleistungen , 628656 , O4B , XETR:O4B