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6-month report
Köln (euro adhoc) - OVB continues to expand sales power
Sustainable growth in financial consultants, customers and new contracts
Efficient cost management: Earnings before interest and taxes (EBIT) rises by
20.1% to E4.2 million
International career plan the foundation for success
Cologne, 9 August 2012 - OVB Holding AG continued to strengthen its sales power
in the first half of 2012 in contrast to an industry that is generally in
decline. Since June 2011, OVB has increased the number of its financial
consultants by 292 or 6.1% to a new high of 5,054. This growth was driven
primarily by the international career opportunities offered by OVB. The
financial services provider, which focuses on Europe, has expanded its client
base there to 2.92 million since mid 2011 The number of new contracts concluded
increased by as much as 8.0% year-on-year to 271,990.
Business ran stably and almost reached the figure for the previous year with
total sales commission of E106.4 million despite challenging conditions
throughout Europe (previous year: E109.8 million). Sales performance improved in
all countries of Southern and Western Europe with the exception of Greece. Total
sales commission in the six countries of the segment climbed strongly by 14.7%
to E13.5 million in the half of the year under review (previous year: E11.7
million). In Central and Eastern Europe, business development was close to the
previous year's level with sales of E63.4 million (previous year: E65.0
million). Adjusted for currency effects, growth in sales of E0.5 million was
generated. The business performance in Germany is a result of a difficult market
environment and perceptible restraint on the part of customers. Total sales
commission here fell from E33.0 million to E29.6 million. The Group's operating
income (EBIT) generated in the first six months of 2012 increased strongly. The
increase from E3.5 million in the first half of 2011 to E4.2 million as of 30
June 2012 equates to growth of 20.1%. The Central and Eastern Europe segment
contributed E5.8 million to this result (previous year: E6.3 million), the
Germany segment E2.5 million (previous year: E2.7 million). The Southern and
Western Europe segment reduced its loss of E-1.1 million considerably to E-0.2
million, and the central units were also able to realise cost savings. "Our
efficient cost management has allowed us to increase EBIT considerably
year-on-year," says Michael Rentmeister, Chief Executive Officer of OVB Holding
AG.
For the first half of 2012, consolidated net income was E3.0 million, 22.2%
above the previous year's figure of E2.5 million. Earnings per share increased
by 23.5% on the comparable period, reaching E0.21 (previous year: E0.17).
Read more
http://www.ovb.ag/PublicRelations/Pressemitteilungen/Archiv2012/Pressemitteilung09082012.aspx
About the OVB Group
The 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 2.92 million
customers across Europe, working in cooperation with more than 100 renowned
product partners. OVB is presently active in 14 countries, with 5,047 full-time
financial consultants working ing for the Group. In 2011, OVB Holding AG and its
subsidiaries generated total sales commission of E222.1 million and EBIT of E6.1
million. OVB Holding AG has been listed on the Frankfurt Stock Exchange (Prime
Standard, ISIN DE0006286560)since July 2006.
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: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart,
regulated dealing/prime standard: Frankfurt
language: English