12.11.2014
OVB Holding AG DE0006286560
DGAP-News: OVB grows profitably (news with additional features)
DGAP-News: OVB Holding AG / Key word(s): Quarter Results/9-month
figures
OVB grows profitably (news with additional features)
12.11.2014 / 08:13
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- Sales increase and disproportionately high improvement of earnings
- Increase in the number of customers and financial advisors
Cologne, 12 November 2014 - The European financial services provider OVB
again performed positively during the first nine months of the year.
Sales rose by 3.3% - by as much as 5.4% in the third quarter. Operating
income (EBIT) of EUR8.3 million was generated after nine months, which is
23.4% more than in the previous year. The client base in Europe was also
expanded further. As at 30 September 2014, there were 3.15 million clients
in total. The number of licensed financial advisors - the key growth driver
for OVB - climbed by 5.7% in the past nine months to 5,231.
"In Germany, the Czech Republic and Austria, we are seeing stable business
performance at our national companies despite adverse conditions. Thanks to
our business model and our consulting approach, our customers continue to
trust us unreservedly in these important markets. We especially appreciate
this in view of a seemingly never-ending flood of regulation and some
indiscriminate suggestions from consumer advocates in particular," says
Michael Rentmeister, CEO of OVB Holding AG, on the Group's positive
performance in the first nine months of the year. "I am delighted that we
have succeeded in growing slightly in such a difficult market as Germany."
Dynamic business performance in broad swathes of Europe
OVB's sales growth has a broad basis. Countries like Italy, Switzerland,
Spain, Slovakia, Poland and Hungary are notable for their very good sales
increases.
"We are especially proud that we achieved these results without external
positive influences like non-recurring legislative factors or economic
tailwind. The course of business in 2014 shows that consistent and
concentrated action on the basis of your own strengths pays off. What could
we achieve on people's behalf if we could offer our service under stable,
reliable conditions and less ideologically driven regulation?" is
Rentmeister's provocative summary.
From January to September 2014, the Group's sales amounted to around
EUR156.0 million, growth of 3.3% year on year.
Disproportionately high improvement of earnings
The Group's operating income (EBIT) improved by 23.4% from EUR6.7 million
in the first nine months of 2013 to EUR8.3 million. In the reporting
period, the Group's EBIT margin based on total sales commission improved to
5.3% after 4.4% in the same period of the previous year. The earnings per
share generated by OVB for its shareholders in the first nine months of
2014 climbed from EUR0.38 to EUR0.45.
Outlook: Increase in operating income
OVB is reiterating its forecast of a slight increase in sales for 2014 as a
whole as against 2013 with significantly higher operating earnings year on
year on this basis. "We want to grow and continue focusing on our
strengths, such as our far-reaching European presence and our comprehensive
OVB ACS (Analysis - Consulting - Service) system. At the same time, we are
investing in the establishment and expansion of Group-wide modular sales
support for advisors in order to improve in this area as well," says
Michael Rentmeister, setting the line of approach.
Rentmeister believes the European and especially the German pensions market
is about to be restructured. "In our view, only financial advisors with a
comprehensive consulting approach and a clear service promise will count
among the market winners. OVB therefore explicitly supports the efforts of
the entire financial services industry to make financial consulting more
transparent and comprehensible for consumers and the public through
standardisation. "We see this as the big chance to clarify the true ability
of financial advisors and thus to improve their public image in the long
term," says Rentmeister to justify this momentous step for the industry.
About the OVB Group
The OVB Group, with its holding company headquartered in Cologne, is one of
Europe's leading financial service providers. Since being founded in 1970,
OVB's business activities have focused on comprehensive consulting for
private households. OVB works with more than 100 high-performance providers
and uses competitive products to serve its clients' individual needs for
retirement provision, asset and proberty protection as well a asset
generation and wealth management. OVB currently operates in a total of 14
countries. Around 5,200 full-time financial consultants currently advise
approximately 3.2 million clients. In 2013, OVB Holding AG and its
subsidiaries generated total sales commission of EUR204.8 million and EBIT
of EUR10.2 million. OVB Holding AG has been listed on the Frankfurt Stock
Exchange (Prime Standard, ISIN DE0006286560) since July 2006.
The presentation and the interim report on the first nine months of 2014
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=EKIQUIQIWX
Document title: OVB Press Release 11/12/2014
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12.11.2014 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.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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296632 12.11.2014
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