Tous Actualités
Suivre
Abonner OVB Holding AG

OVB Holding AG

EANS-News: OVB Holding AG
Signs of business recovery at OVB after cautious start to 2010

Köln (euro adhoc) -

  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.
3-month report
Consolidated sales reach EUR47.6 million in first
quarter of 2010 - Central and Eastern Europe as most stable segment -
EBIT of EUR1.3 million - more customers, more financial advisors, 
more transactions in the past few weeks
Cologne, 12 May 2010 - OVB Holding AG generated sound results in the 
first quarter of 2010 and held its own in an ongoing difficult 
macroeconomic environment. Consolidated sales amounted to EUR47.6 
million (previous  year: EUR53.8 million). "Economic conditions in 
Europe still aren´t easy, but we´ve already identified significant 
business recovery in the last month of the  first quarter of 2010," 
explains Wilfried Kempchen, Chief Executive Officer of OVB Holding 
AG.
The Central and Eastern Europe region contributed EUR20.6 million 
(previous year: EUR21.1 million) to consolidated sales, proving to be
the most stable segment in the Group with a fall in total sales 
commission of just 2.4%. In  the period between January and March 
2010, total sales commission in Germany fell by 15.9% compared with 
the previous year (EUR21.4 million), totalling EUR18.0 million. Sales
in the Southern and Western Europe segment in the initial quarter 
were also down on the previous year´s volume at EUR9 million 
(EUR11.4 million).
The Group´s operating income (EBIT) totalled EUR1.3 million in the  
first quarter of 2010 (previous year: EUR3.4 million). Central and 
Eastern Europe contributed EUR2.1 million to EBIT (previous  year: 
EUR3.3 million). In Germany, operating income declined to 
EUR1.8 million (previous year: EUR2.7 million). EBIT for the Southern
and Western Europe region totalled EUR-0.3 million; in the same 
period of the previous year, this segment posted positive operating 
income of EUR+0.3 million. Consolidated net income in the period 
under review amounted to EUR1.1 million, down from EUR2.4 million in 
the same quarter of the previous year. Earnings per share amounted to
EUR0.08 (previous year: EUR0.17).
The number of customers at OVB remained largely constant at 
approximately 2.8 million persons - the financial advisors at OVB 
therefore enjoyed the trust of their customers even in difficult 
times. At the end of March 2010, 4,410 full-time financial advisors 
worked for OVB in 14 countries of Europe. The number was lower by 254
sales agents compared to the end of the year 2009 (4,664 financial 
advisors) and by 547 fulltime advisors compared to 31 March 2009 
(4,957 advisors). The main reasons for this decline are the 
temporarily impaired general conditions and corresponding prospects 
for income in the course of the international financial and economic 
crisis.
The product portfolio of OVB has barely changed: with a share of 55% 
of new business in the first quarter (previous year: 58%), 
funds-based pension products were the most in demand.
The first signs of a recovery have been noticeable since March - 
although business performance in many European countries in the first
quarter of 2010 still boded ongoing economic difficulty. "We are very
confident overall and expect the moderate macroeconomic upward trend 
to have a positive impact on the business activities of OVB in  
Europe,"  states Oskar Heitz, Chief Financial Officer of OVB Holding 
AG. "Nevertheless, it is essential that we continue to optimise 
structures and processes on an ongoing basis in order to successfully
tackle the challenges of the next few years." As regards sales 
performance in the current financial year, OVB expects to achieve  
about the same figure as 2009.
About the OVB Group
The 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 some 2.8 million customers
across Europe, working in cooperation with over 100 renowned product 
partners. OVB is  presently active in 14 countries, with 4,410 
full-time financial advisors working for the Group. In 2009, OVB 
Holding AG - which  has been listed on the Frankfurt Stock Exchange 
(Prime Standard, ISIN DE0006286560) since July 2006 - and its 
subsidiaries generated total sales commission of EUR201.6 million and
EBIT of EUR9.6 million.
A presentation and the consolidated interim report on the first 
quarter of  2010 can be downloaded from the Investor Relations 
section of www.ovb.ag.
This press release is also available on the Internet at:
www.ovb.ag --> Press --> Press Releases
OVB Holding AG
Heumarkt 1
50667 Cologne
Germany
Contact:
Brigitte Bonifer
Investor Relations
phone +49 221 / 2015-288
Telefax +49 221 / 2015-325
bbonifer@ovb.de
Internet: www.ovb.ag
Aditional Contact:
Anette Tepel
Stockheim Media GmbH
phone +49 221 / 420 75 - 38
Telefax +49 221 / 420 75 - 59 
at@stockheim-media.com
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: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / free trade

Plus de actualités: OVB Holding AG
Plus de actualités: OVB Holding AG
  • 30.03.2010 – 07:02

    EANS-News: OVB Holding AG /

    OVB concludes the 2009 financial year with sound results Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. annual result Subtitle: OVB concludes the 2009 financial year with sound results Köln (euro adhoc) - - Sales of EUR 201.6 million exceed forecast - EBIT reaches EUR 9.6 million - Dividend of EUR 0.50 per share proposed Cologne/Frankfurt am Main, 30 March 2010 - OVB Holding AG ...

  • 28.01.2010 – 22:53

    EANS-Adhoc: OVB Holding AG /

    ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. Departure of financial advisors in Switzerland and France 28.01.2010 OVB Holding AG Heumarkt 1, 50667 Cologne ISIN DE0006286560 / WKN 628656 Ad hoc announcement in accordance with Section 15 of the Securities Trading Act Departure of financial advisors in Switzerland ...

  • 06.11.2009 – 07:01

    EANS-News: OVB Holding AG /

    Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. 9-month report Köln (euro adhoc) - OVB achieves total sales commission of EUR147.4 million in first nine months of 2009 Business dominated by financial and economic crisis Robust development in Germany under difficult market conditions Cost savings programs taking effect Cologne, 6 November 2009 - At EUR147.4 million, the total sales ...