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OVB Holding AG

EANS-News: OVB Holding AG
OVB closes 2008 with significant growth in saes and earnings

Cologne (euro adhoc) -

  ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for
  the content of this announcement.
companies/Financial statements 2008
Consolidated sales up 5.7 percent,
consolidated net profit up 20.5% - Proposed dividend increase to 
EUR1.35 - Cautious confidence for current financial year
Cologne/Frankfurt am Main, 31 March 2009 - OVB Holding AG  increased 
its  sales by 5.7% in financial year 2008 in an increasingly 
difficult economic environment. Overall sales commissions reached 
EUR260.2 million (previous year: EUR246.2 million). "We have OVB's 
broad international  positioning to thank for this success," said 
Michael Frahnert, the Company's Chief Executive Officer, with 
conviction. Countries in the Central and Eastern European segment 
again achieved the largest share of the Group's  sales  growth  in  
2008  with EUR122.7 million (previous year: EUR105.2 million), a 
year-on-year increase of 16.7%. The Southern and Western European 
segment generated sales growth of  5.9% to EUR52.3 million (previous 
year: EUR49.3 million).
In Germany, sales were EUR85.2 million in  2008 (7% below the 
previous year's volume), as the environment was dominated by 
uncertainty due to the financial crisis and increased administrative 
expenses in field work for financial services sales organisations.
At EUR28.8 million, earnings before interest and  taxes  (EBIT)  
remained  at the same level as the previous year. Due to the 
significant expansion in Central and Eastern Europe, business 
increased by 5.3% to EUR22.2 million there, while operating results 
in Southern and Western Europe largely remained on the prior-year 
level at EUR6.5 million. In Germany, EBIT fell from EUR9.4 million to
EUR7.4 million. Despite the temporary weakness in business in this 
region, the OVB Group achieved an EBIT margin of 11.1% in 2008, 
significantly above the industry average.
Consolidated net income for 2008  significantly  improved  over  the 
comparable previous year's figure by 20.5% or EUR4.2 million to 
EUR24.4 million.  Basic earnings per share amounted to EUR1.71 after 
EUR1.42 in the previous year.
The number of customers also increased again. OVB obtained 170,000 
new customers across Europe and now has a customer base of 2.78 
million customers as at the end of 2008.
Over the course of 2008, the number of full-time advisors increased 
by 97, or 2.0%, to 4,862.
The overall positive financial year 2008 makes it possible to propose
increasing the dividend by 17.4% from EUR1.15 to EUR1.35 per share at
the Annual General Meeting on 12 June 2009.
Despite many uncertainties in the economic environment, Michael 
Frahnert is cautiously confident for the current financial year: 
"From today's view,  I  see a realistic opportunity to generate sales
and earnings of  around  the  previous year's level".
About the 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 2.8 million  customers
across Europe, working in cooperation with over 100 renowned  product partners.
OVB is presently  active  in  14  countries,  with  more  than  4,800  full-time
financial consultants working for the Group. In 2008, 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 EUR260,2
million and EBIT of EUR28.8 million.
Key figures of OVB Group business year 2008
|Key operating figures|Unit       |2007       |2008       |Change     |
|Clients (31/12)      |Number     |2.61       |2.78       |+ 6.5 %    |
|                     |million    |           |           |           |
|Financial advisors   |Number     |4,765      |4,862      |+ 2.0 %    |
|(31/12)              |           |           |           |           |
|New business         |Number of  |563,300    |585,817    |+ 4.0 %    |
|                     |contracts  |           |           |           |
|Total sales          |Euro       |246.2      |260.2      |+ 5.7 %    |
|commission           |million    |           |           |           |
|Key financial figures|Unit       |2007       |2008       |Change     |
|Earnings before      |Mio. Euro  |29.0       |28.8       |- 0.4 %    |
|interest and taxes   |           |           |           |           |
|(EBIT)               |           |           |           |           |
|EBIT margin*         |%          |11.8       |11.1       |- 0.7      |
|                     |           |           |           |%-pts.     |
|Consolidated net     |Mio. Euro  |20.2       |24.4       |+ 20.5 %   |
|income               |           |           |           |           |
|Earnings per share   |Euro       |1.42       |1.71       |+ 20.4 %   |
|(undiluted)          |           |           |           |           |
* Based on total sales commission
Key figures per region of business year 2008
|                     |Unit       |2007       |2008       |Change     |
|Central and Eastern  |           |           |           |           |
|Europe               |           |           |           |           |
|Clients (31/12)      |Number     |1.63       |1.76       |+ 8.0 %    |
|                     |million    |           |           |           |
|Financial advisors   |Number     |2,690      |2,994      |+ 11.3 %   |
|(31/12)              |           |           |           |           |
|Total sales          |Euro       |105.2      |122.7      |+ 16.7 %   |
|commission           |million    |           |           |           |
|Earnings before      |Euro       |21.1       |22.2       |+ 5.3 %    |
|interest and taxes   |million    |           |           |           |
|(EBIT)               |           |           |           |           |
|EBIT margin*         |%          |20.1       |18.1       |- 2.0      |
|                     |           |           |           |%-pts.     |
|Germany              |           |           |           |           |
|Clients (31/12)      |Number     |685,200    |693,600    |+ 1.2 %    |
|Financial advisors   |Number     |1,293      |1,105      |- 14.5 %   |
|(31/12)              |           |           |           |           |
|Total sales          |Euro       |91.6       |85.2       |- 7.0 %    |
|commission           |million    |           |           |           |
|Brokerage income     |Euro       |67.2       |61.4       |- 8.6 %    |
|                     |million    |           |           |           |
|Earnings before      |Euro       |9.4        |7.4        |- 21.3 %   |
|interest and taxes   |million    |           |           |           |
|(EBIT)               |           |           |           |           |
|EBIT margin*         |%          |10.3       |8.7        |-1.6 %-pts.|
|Southern and Western |           |           |           |           |
|Europe               |           |           |           |           |
|Clients (31/12)      |Number     |293,700    |318,950    |+ 8.6 %    |
|Financial advisors   |Number     |782        |763        |- 2.4 %    |
|(31/12)              |           |           |           |           |
|Total sales          |Euro       |49.3       |52.3       |+ 5.9 %    |
|commission           |million    |           |           |           |
|Earnings before      |Euro       |6.9        |6.5        |- 5.8%     |
|interest and taxes   |million    |           |           |           |
|(EBIT)               |           |           |           |           |
|EBIT margin*         |%          |14.0       |12.4       |- 1.6      |
|                     |           |           |           |%-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.ag
Internet: www.ovb.ag
end of announcement                               euro adhoc

Further inquiry note:

Brigitte Bonifer
Investor Relations
phone: +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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