11.05.2016
OVB Holding AG DE0006286560
DGAP-News: OVB Holding AG: OVB continues on profitable growth path (news with additional features)
DGAP-News: OVB Holding AG / Key word(s): Interim Report
OVB Holding AG: OVB continues on profitable growth path (news with
additional features)
11.05.2016 / 08:11
The issuer is solely responsible for the content of this announcement.
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OVB continues on profitable growth path
- Total sales commission increases by 4.8% to EUR57.1 million
- EBIT rises by 31.6% to EUR3.0 million
- First quarter exceeds expectations
Cologne, 11 May 2016 - In the first quarter of 2016, the European financial
advisory group OVB recorded positive business performance that exceeded
expectations. All of the Group's relevant financial figures increased.
While total sales commission rose by 4.8%, EBIT increased by 31.6% and
consolidated net income went up 29.0%. "In the first three months of this
year, we achieved good business performance in a challenging environment.
The balanced nature and stability of the OVB business model has proven
itself once again. Moderate business performance in Slovakia, the Czech
Republic and Poland was offset by positive development on other national
markets of the Central and Eastern Europe segment. The Germany segment saw
a significant year-on-year increase. We continue to see very dynamic growth
in the Southern and Western Europe segment," summarised CEO of OVB Holding
AG Mario Freis regarding the OVB Group's business performance in the first
quarter of 2016.
Development in the segments
The very positive performance in Southern and Western Europe continued
unabated, achieving a rise of 15.2% in total sales commission and a 35.4%
improvement in earnings. In Germany, total sales commission increased by
8.1% - with a significant improvement in earnings by 13.3%. In Central and
Eastern Europe, brokerage income and operating income fell slightly behind
the level of the previous year.
"This indicates that we have grown profitably again across the Group in the
first quarter," highlighted CFO Oskar Heitz.
The number of clients advised amounted to 3.26 million clients at the end
of the reporting period on 31 March 2016 (previous year: 3.24 million
clients). Across Europe, these clients are advised by 5,179 full-time OVB
financial advisors (previous year: 5,204 financial advisors).
Outlook
Based on this successful first quarter, OVB made a slight upward revision
to its sales and earnings expectations for 2016 as a whole. The Executive
Board now anticipates total sales commission for the year as a whole to be
close to the level of the previous year. Operating income is expected to
move slightly above the level of the previous year. "Our performance in the
first three months was good and proves that we are on the right track with
the OVB one-stop finance concept. However, we are facing great challenges
across Europe. In particular, regulatory changes on individual national
markets may dampen the OVB Group's growth momentum," Mario Freis summarised
the Executive Board's expectations for the year as a whole.
About OVB Group
The OVB Group, with its holding company headquartered in Cologne, is one of
Europe's leading financial advisory groups. Since being founded in 1970,
OVB's business activities have focused on long-term, comprehensive and
above all cus-tomer-oriented allfinanz consulting for private households.
OVB works with more than 100 high-performance providers and uses
competitive products to serve its clients' individual needs for subsistence
and pensions, asset building, asset protec-tion and increasing assets. OVB
currently operates in a total of 14 countries.
Over 5,100 full-time financial advisors currently advise approximately 3.26
million clients. In 2015, OVB Holding AG and its subsidiaries generated
total sales commission of EUR224.7 million and EBIT of EUR14.0 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 of 2016 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 > in Dialogue > Press Releases
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Additional features:
Document: http://n.eqs.com/c/fncls.ssp?u=OJEJIKUFOU
Document title: OVB Press Release of 5/11/2016
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11.05.2016 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
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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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