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OVB Holding AG

OVB remains on growth path after first six months

Köln (euro adhoc) -

  ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for
  the content of this announcement.
companies/Half-Year-Results 2008
-Sales up 9.1% thanks to systematic focus on
Europe
-Consolidated net profit rises by 16.3%
-Significant increase in dividend planned
Cologne, 14 August 2008 - OVB Holding AG  (Prime Standard, ISIN 
DE0006286560) recorded consolidated sales (total sales commission) of
E132.5 million in the first half of 2008, up 9.1% on  the  first  six
months  of  the  previous  year (E121.5 million). "In an environment 
of bad  news  and  growing  uncertainty in terms of future economic 
development, both in Germany  and  abroad, I consider these  results 
to be extremely encouraging," commented  Michael Frahnert, Chairman 
of the Executive Board of OVB Holding AG, adding: "OVB remains on its
growth path."
OVB's systematic  focus  on  Europe made a significant contribution 
to the positive course of business in the first half of 2008. Sales 
growth in Central and Eastern Europe was particularly pronounced, 
with total sales  commission  in the region increasing by 16.3% 
year-on-year to E63.9 million (previous  year: E54.9 million). In the
Germany segment, sales were down slightly at E41.1 million (previous 
year: E42.5 million); this meant that OVB successfully absorbed the 
impact of the weak domestic market, which is providing little in the 
way of  momentum  for the industry as a whole. In Southern and 
Western Europe, OVB increased its total sales commission by 13.4% to 
E27.3 million (previous year: E24.1 million).
Earnings before interest and taxes (EBIT) remained essentially 
unchanged at E16.7 million, compared with E16.6 million in the same 
period of the previous year.  This  was  due  in  part  to  Germany, 
where  EBIT  declined  by  around E0.6 million year-on-year, as well 
as to necessary expenses  for  the  continued growth and success of 
the Group - for example, the  successive  introduction of the new 
"myOVB" customer relationship management (CRM) system, which will be 
a key instrument in ensuring the sales success and customer 
orientation of OVB's financial consultants. EBIT development in the  
first  half of 2008 was also impacted by a further increase in 
training costs and  the expansion of the services provided by the 
Group's growing sales team.  All in all, the consolidated EBIT margin
for the first six months of 2008  amounted to 12.6%, compared with 
13.7% in the first half of 2007 and 11.8% in 2007 as a whole.
At E14.2 million, net profit for the first six months of 2008 was up 
16.3% or E2.0 million year-on-year. This development was driven by 
the continued tax optimisation resulting from the profit and  loss  
transfer  agreement  with  OVB Vermögensberatung AG, which was 
approved by the Annual General Meeting  on 3 June 2008. Basic 
earnings per share for the first six months of  2008  increased to 
E1.00 after E0.86 in the previous year.
OVB expects its business development to accelerate in the second  
half of the year and is reiterating its double-digit growth forecasts
in terms of sales  and earnings. Accordingly, the Executive Board 
will propose to the Supervisory Board that the dividend be further 
increased to between E1.25 and E1.35 per share.
The number of customers advised by OVB in 14 European countries rose 
by more than 183,000 or 7.2% year-on-year to 2.68 million. During the
same  period,  the number of full-time advisors increased by 544 or 
12.3% to 4,950.
About 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 more than 2.65 million 
customers across Europe, working  in  cooperation with over 100 
renowned product partners. OVB is presently active in 14 countries, 
with  some 4,900 full-time financial consultants  working for the 
Group. In 2007, OVB Holding AG - which has been  listed  on  the  
Frankfurt  Stock  Exchange  (Prime Standard) since July 2006 - and 
its subsidiaries generated total sales commission of E246.2 million 
and EBIT of E29.0 million (2007 Annual Report).
OVB will publish its results for the third quarter on 18 November 
2008.
A presentation and the interim report on the first six months  of  
2008  can  be downloaded from the Investor Relations section of 
www.ovb.ag.
This IR release is also available on the Internet at:
www.ovb.ag-Investor Relations-Financial Publications-IR Releases
Key figures for the OVB Group 6M/2008
|Key operating figures|Unit       |01/01 -    |01/01 -    |Change     |
|                     |           |30/06/2007 |30/06/2008 |           |
|Clients (30/06)      |Number     |2.50       |2.68       |+ 7.2 %    |
|                     |million    |           |           |           |
|Financial advisors   |Number     |4,406      |4,950      |+ 12.3 %   |
|(30/06)              |           |           |           |           |
|New business         |Number     |267,600    |297,230    |+ 11.1 %   |
|Total sales          |Euro       |121.5      |132.5      |+ 9.1 %    |
|commission           |million    |           |           |           |
|Key financial figures|Unit       |01/01 -    |01/01 -    |Change     |
|                     |           |30/06/2007 |30/06/2008 |           |
|Earnings before      |Euro       |16.6       |16.7       |+ 0.5 %    |
|interest and taxes   |million    |           |           |           |
|(EBIT)               |           |           |           |           |
|EBIT margin*         |%          |13.7       |12.6       |- 1.1      |
|                     |           |           |           |%-pts.     |
|Consolidated net     |Euro       |12.2       |14.2       |+ 16.3 %   |
|income               |million    |           |           |           |
|Earnings per share   |Euro       |0.86       |1.0        |+ 16.3 %   |
|(undiluted)          |           |           |           |           |
* Based on total sales commission
Key figures by region 6M/2008
|                     |Unit       |01/01 -    |01/01 -    |Change     |
|                     |           |30/06/2007 |30/06/2008 |           |
|Central and Eastern  |           |           |           |           |
|Europe               |           |           |           |           |
|Clients (30/06)      |Number     |1.54       |1.68       |+ 9.1 %    |
|                     |million    |           |           |           |
|Financial advisors   |Number     |2,406      |2,930      |+ 21.8 %   |
|(30/06)              |           |           |           |           |
|Total sales          |Euro       |54.9       |63.9       |+ 16.3 %   |
|commission           |million    |           |           |           |
|EBIT                 |Euro       |12.1       |12.2       |+ 1.0 %    |
|                     |million    |           |           |           |
|EBIT margin*         |%          |22.0       |19.1       |- 2.9      |
|                     |           |           |           |%-pts.     |
|Germany              |           |           |           |           |
|Clients (30/06)      |Number     |675,100    |690,200    |+ 2.2 %    |
|Financial advisors   |Number     |1,281      |1,252      |- 2.3 %    |
|(30/06)              |           |           |           |           |
|Total sales          |Euro       |42.5       |41.4       |- 2.6 %    |
|commission           |million    |           |           |           |
|Brokerage income     |Euro       |32.0       |30.6       |- 4.2 %    |
|                     |million    |           |           |           |
|EBIT                 |Euro       |4.3        |3.6        |- 14.6 %   |
|                     |million    |           |           |           |
|EBIT margin*         |%          |10.0       |8.7        |- 1.3      |
|                     |           |           |           |%-pts.     |
|Southern and Western |           |           |           |           |
|Europe               |           |           |           |           |
|Clients (31/03)      |Number     |279,200    |307,800    |+ 10.2 %   |
|Financial advisors   |Number     |719        |768        |+ 6.8 %    |
|(31/03)              |           |           |           |           |
|Total sales          |Euro       |24.1       |27.3       |+ 13.4 %   |
|commission           |million    |           |           |           |
|EBIT                 |Euro       |3.8        |4.1        |+ 8.3 %    |
|                     |million    |           |           |           |
|EBIT margin*         |%          |15.7       |15.0       |- 0.7      |
|                     |           |           |           |%-pts.     |
* Based on total sales commission
OVB Holding AG
Heumarkt 1
50667 Cologne
Germany
IR Contact:
Brigitte Bonifer
Investor Relations
Phone: +49(0)221 / 2015-288
Fax: +49(0)221 / 2015-325
bbonifer@ovb.de 
ir@ovb.de
Internet: www.ovb.ag
end of announcement                               euro adhoc

Further inquiry note:

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

Branche: Financial & Business Services
ISIN: DE0006286560
WKN: 628656
Index: CDAX, Classic All Share, Prime All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / free trade

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