OVB Holding AG

EANS-News: OVB Holding AG /

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6-month report/First Half of 2011


Köln (euro adhoc) - OVB posts sharp growth in sales and earnings in the first
half of 2011



Consolidated sales increase by 15.3% to EUR 109.8 million


EBIT rises by 23.2% to EUR 3.5 million


Number of full-time financial advisors increased by 155 to 4,762



Cologne, 12 August 2011 - OVB Holding AG increased sales and profit in the
first half of 2011. Total sales commission increased by 15.3% to EUR 109.8
million (previous year: EUR 95.2 million), earnings before interest and taxes
(EBIT) rose by 23.2% to EUR 3.5 million (previous year: EUR 2.9 million). "Since
spring 2010, our financial advisors have succeeded in increasing commission
income continuously", says Wilfried Kempchen, Chief Executive Officer of OVB
Holding AG. "We have provided sustained confirmation of the positive start to
2011. OVB has benefited in particular from the dynamic business development in
Central and Eastern Europe, in which the countries of the Czech Republic,
Slovakia, Poland and Hungary played a leading role."

In Central and Eastern Europe, total sales commission rose by 49.6% to EUR 65.0
million (previous year: EUR 43.4 million). As a result, the Central and Eastern
Europe segment increased its share of sales to 59.2%. Sales in Germany remained
largely constant: from January to June 2011, total sales commission of EUR 33.0
million was achieved here (previous year: EUR 35.5 million). Tense economic
conditions in markets such as Greece, Italy and Spain led to a depressed
performance in the Southern and Western Europe segment, which contributed EUR
11.7 million (previous year: EUR 16.3 million) to consolidated sales.

The Group increased operating income (EBIT) generated in the first six months
of 2011 by 23.2% to EUR 3.5 million (previous year: EUR 2.9 million). The
Central and Eastern Europe segment increased its EBIT significantly to EUR 6.3
million, an increase of 44.1% on the previous year's figure of EUR 4.3 million.
In Germany, operating income came to EUR 2.7 million (previous year: EUR 3.7
million). The loss in the Southern and Western Europe segment increased as a
result of a further exacerbation in macroeconomic stresses to EUR -1.1 million
(previous year: EUR -0.4 million).

Consolidated net income increased to EUR 2.5 million in the first half (previous
year: EUR 2.0 million). Earnings per share amounted to EUR 0.17 (previous year:
EUR 0.14).

The trend in the number of independent financial advisors, who work for OVB
full-time, was also very positive: the sales team was expanded significantly by
155 financial advisors compared with mid-2010. In the second quarter of 2011
alone, 111 new financial advisors joined the team, meaning that 4,762 financial
advisors were working for OVB at the end of June. With growth of 1.8% to 2.84
million clients, OVB has expanded its client base on a permanent basis. Product
demand was concentrated more heavily than previously on funds-based pension
products, in the first half of 2011, 62% of new business was attributable to
these products.

Positive basic trends in economic development will probably support the course
of business in the second half too - despite persistent economic crises in
individual countries. Oskar Heitz, Chief Financial Officer: "We have laid a
firm foundation with the pleasing performance in the first half. If we maintain
this growth path, 2011 will be a good financial year."

OVB Group

OVB Group, with its holding company headquartered in Cologne, is one of the
leading European financial sales organisations. Since the formation of OVB
Vermögensberatung AG in Germany in 1970, customer-oriented consulting for
private households in the areas of insurance coverage, asset building and
appreciation, pension provision and real estate acquisition have formed the
focus of OVB´s business activities. OVB currently advises 2.84 million
customers across Europe, working in cooperation with over 100 renowned product
partners. OVB is presently active in 14 countries, with 4,762 full-time
financial advisors working for the Group. In 2010, OVB Holding AG and its
subsidiaries generated total sales commission of EUR197.3 million and EBIT of
EUR4.8 million. OVB Holding AG has been listed on the Frankfurt Stock Exchange
(Prime Standard, ISIN DE0006286560) since July 2006.

OVB will publish its results for the third quarter 2011 on 10 November 2011.

A presentation and the Half-Year Report 2011 can be downloaded from the
Investor Relations section of www.ovb.ag.

This Corporate News is also available on the Internet at:

http://www.ovb.ag/InvestorRelations/IRInformationen/Archiv2011/IRInformation12082011/tabid/1695/language/en-US/Default.aspx


Further inquiry note:
Brigitte Bonifer
Investor Relations
Tel.: +49 (0)221 2015 288
E-Mail: bbonifer@ovb.de

end of announcement                               euro adhoc 
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company:     OVB Holding AG
             Heumarkt  1
             D-50667 Köln
phone:       +49 (0)221 2015 0
FAX:         +49 (0)221 2015 264
mail:     ovb@ovb-holding.ag
WWW:      www.ovb.ag
sector:      Financial & Business Services
ISIN:        DE0006286560
indexes:     CDAX, Classic All Share, Prime All Share
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
             Hamburg, Stuttgart, Düsseldorf, München 
language:   English
 



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