Group interim report for the first nine months of 2017: A growing number of clients in Europe trust OVB
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- Customer base grows to 3.33 million
- Forecast for the entire year confirmed
Cologne, 9 November 2017 – The European financial advisory group OVB Holding AG expanded its client base by 1.9% to 3.33 million as at the end of September 2017. At the same time the Group generated total sales commission of €166.3 million from January to September 2017 (previous year: €171.1 million). Total sales commission in the Central and Eastern Europe segment, which accounted for 48.5% of sales, remained largely stable in the reporting period, amounting to €80.7 million (previous year: €81.0 million). An expected slowdown in the Czech Republic and virtually stable business performance in Slovakia and Ukraine were offset by very dynamic business performance in Hungary, Poland, Croatia and Romania. In the Germany segment, OVB generated total sales commission of €42.9 million (previous year: €46.3 million). After extremely dynamic growth in recent years, total sales commission in the Southern and Western Europe segment decreased slightly year-on-year to €42.8 million (previous year: €43.9 million).
Mario Freis, CEO of OVB Holding AG: “Our growing number of clients proves the increasing need within the European population for personal and qualified allfinanz consulting.”
Implementation of strategic measures affects EBIT performance
Aside from the increasingly challenging conditions, particularly the effects of regulation in the key German and Czech national markets, the planned increase in investment expenditure to strengthen medium and long-term viability is having an impact on OVB’s earnings performance. The OVB Group’s operating income amounted to €10.5 million in the period under review (previous year: €12.4 million).
For 2017 as a whole, the Executive Board stands by its expectation of a slight fall in sales against the previous year and a moderate decline in operating income.
About the OVB Group
The OVB Group, with its holding company headquartered in Cologne, is one of Europe’s leading financial advisory groups. Since being founded in 1970, OVB’s business activities have focused on long-term, comprehensive and above all customer-oriented financial consulting for private households. OVB works with more than 100 high-performance providers and uses competitive products to serve its clients’ individual needs, for subsistence and pensions, asset building, asset protection and increasing assets. OVB currently operates in 14 European countries.
4,774 full-time financial consultants currently advise 3.33 million clients.
OVB Holding AG and its subsidiaries generated total sales commission of €231.8 million and EBIT of €16.5 million in 2016. OVB Holding AG has been listed on the Frankfurt Stock Exchange (Prime Standard, ISIN DE0006286560) since July 2006.
Key figures of the OVB Group for the first three quarters of 2017
| Key operating figures | Unit | 01/01 – 30/09/2016 | 01/01 – 30/09/2017 | Change |
|---|---|---|---|---|
| Clients (30/09) | Number | 3.26 million | 3.33 million | + 1.9 % |
| Financial advisors (30/09) | Number | 5,089 | 4,774 | - 6.2 % |
| Total sales commission | Euro million | 171.1 | 166.3 | - 2.8 % |
| Key financial figures | Unit | 01/01 – 30/09/2016 | 01/01 – 30/09/2017 | Change |
|---|---|---|---|---|
| Earnings before interest and taxes (EBIT) | Euro million | 12.4 | 10.5 | - 15.2 % |
| EBIT margin* | % | 7.3 | 6.3 | - 1.0 %-pts. |
| Consolidated net income | Euro million | 9.7 | 7.8 | - 19.7 % |
| Earnings per share (undiluted) | Euro | 0.68 | 0.54 | - 19.7 % |
* on the basis of total sales commission
Key figures by region for the first three quarters of 2017
| Unit | 01/01 – 30/09/2016 | 01/01 – 30/09/2017 | Change | |
|---|---|---|---|---|
| Central and Eastern Europe | ||||
| Clients (30/09) | Number | 2.20 million | 2.26 million | + 2.4 % |
| Financial advisors (30/09) | Number | 3,028 | 2,755 | - 9.0 % |
| Total sales commission | Euro million | 81.0 | 80.7 | - 0.4 % |
| Earnings before interest and taxes (EBIT) | Euro million | 6.7 | 6.4 | - 3.9 % |
| EBIT margin* | % | 8.2 | 7.9 | - 0.3 %-pts. |
| Germany | ||||
| Clients (30/09) | Number | 635,471 | 623,171 | - 1.9 % |
| Financial advisors (30/09) | Number | 1,357 | 1,345 | - 0.9 % |
| Total sales commission | Euro million | 46.3 | 42.9 | - 7.3 % |
| Earnings before interest and taxes (EBIT) | Euro million | 4.9 | 4.4 | - 9.1 % |
| EBIT margin* | % | 10.5 | 10.3 | - 0.2 %-pts. |
| Southern and Western Europe | ||||
| Clients (30/09) | Number | 426,649 | 447,652 | + 4.9 % |
| Financial advisors (30/09) | Number | 704 | 674 | - 4.3 % |
| Total sales commission | Euro million | 43.9 | 42.8 | - 2.5 % |
| Earnings before interest and taxes (EBIT) | Euro million | 6.2 | 5.4 | - 12.9 % |
| EBIT margin* | % | 14.2 | 12.7 | - 1.5 %-pts. |
* on the basis of total sales commission