12.05.2015
OVB Holding AG DE0006286560
DGAP-News: OVB achieves a dynamic start to the year in 2015 (news with additional features)
DGAP-News: OVB Holding AG / Key word(s): Interim Report
OVB achieves a dynamic start to the year in 2015 (news with additional
features)
12.05.2015 / 08:55
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OVB achieves a dynamic start to the year in 2015
- Sales increase in all segments
- Increase in customer numbers and advisor numbers
- Marked improvement in profitability
Cologne, 12 May 2015 - "OVB is on course for growth and is benefiting from
focusing on its own strengths. I am proud of the fact that we have not been
curbed in fulfilling our social role as a financial advisor despite the
increasing mania for regulation throughout Europe - driven by alleged
consumer protection. To avert a social crisis among broad sections of the
population caused by demographic change and the decreasing effectiveness of
social security systems, financial advisors with a range of consulting
services and products tailored to people's needs will be required", is how
Michael Rentmeister, CEO of OVB Holding AG, explains the background to the
excellent performance in the first quarter.
"From our perspective, the fact that the existing complexity leads to a
situation where even specialists can scarcely assess how new laws will work
is worrying. As a result, the actual objective that people will take
responsibility for making their own retirement provisions based on good
advice is often contradicted. An economically sound broking industry is the
essential precondition for customer-focused, qualified financial
consulting", continues Rentmeister. "We shall therefore not tire of coming
up with suggestions for deregulation or demanding an end to regulation
instead of simply welcoming new regulations."
With its uniform approach to consulting throughout Europe and its clear
customer focus, OVB made a good start operationally speaking to the 2015
financial year: In the first three months of the year, OVB increased Group
sales sharply by 9.7% to EUR54.5million. The internationally focused Group
increased earnings before interest and taxes (EBIT) sharply year-on-year by
36.0% to EUR2.2 million. OVB achieved outstanding results in all segments
of the Group: its dynamic performance in Southern and Western Europe
continued unabated, achieving growth in sales of 28.1% and a 33.2%
improvement in earnings. Business in Germany posted very gratifying growth
in sales of 7.6% and a moderate improvement in earnings. In Central and
Eastern Europe, a slight increase in sales of 3.7% was achieved.
Consequently, here too, OVB is back on course for growth. Operating income
improved by a disproportionate 31.1%.
A further increase in the number of OVB financial advisors and customers
In the first quarter of 2015, OVB again increased the number of customers
it advises. The customer base has grown by 4.5% within a year to stand at
3.24 million customers. At the end of March, 5,204 financial advisors were
working for OVB throughout Europe, 86 more than a year before.
Sales and earnings forecast for 2015 confirmed
"After the first three months, we are optimistic about the rest of the year
and are on track", says Michael Rentmeister.
In view of the Q1/2015 results, OVB confirms its expectation of matching
operating earnings achieved in 2014 in 2015, if sales revenues rise
slightly.
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 3.2
million customers across Europe, working in cooperation with over 100
renowned product partners. OVB is presently active in 14 countries, with
5,204 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.
The presentation of the results of the first quarter 2015 and the interim
report can be downloaded from the Investor Relations section of www.ovb.eu.
This press release is also available on the Internet at:
www.ovb.eu > Press > Press Releases
+++++
Additional features:
Document: http://n.equitystory.com/c/fncls.ssp?u=SLAGTWABXU
Document title: OVB Press Release 05/12/2015
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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.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
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