OVB achieves growth in sales and customers in the first half of 2018
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Cologne, 7 August 2018. The European financial advisory group OVB has increased the number of customers it advises across Europe to 3.41 million. At €115.3 million in the first half of 2018, total sales commission increased slightly on the previous year by 0.6%. With total sales commission of €29.0 million in Germany, OVB managed to almost offset the decline in the first quarter of 2018. In the Southern and Western Europe segment, sales performance was down year-on-year to €29.0 million after years of dynamic growth. There was very gratifying performance in the Central and Eastern Europe segment, which generated growth of 3.9% to €57.3 million.
“Sales performance in the first half of the year exceeded our expectations slightly overall. With the rise in total sales commission in the Central and Eastern Europe segment, we are more than compensating for the muted business performance in the Southern and Western Europe segment,” says Mario Freis, CEO of OVB Holding AG.
OVB Group achieved operating income (EBIT) of €5.6 million, which, as expected, was below the previous year’s figure primarily because of higher expenses in the wake of implementing strategic and regulatory measures. “This half-year result puts OVB on course to achieve the stated forecast,” says CFO Oskar Heitz.
Forecast for the financial year confirmed
The forecast for 2018 as a whole is unchanged, predicting a slight decline in sales with varying, market-specific trends in the individual countries. Operating income is expected to be between €13.0 and €13.5 million.
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, from subsistence and property/asset insurance to pensions and asset building and growth. OVB currently operates in 14 European countries. 4,732 full-time financial consultants currently advise 3.41 million clients.
In 2017, OVB Holding AG and its subsidiaries generated total sales commission of €225.3 million and EBIT of €16.0 million. OVB Holding AG has been listed on the Frankfurt Stock Exchange (Prime Standard, ISIN DE0006286560) since July 2006.
Key figures of the OVB Group H1 2018
| Unit | 1 Jan. – 30 June 2017 | 1 Jan. – 30 June 2018 | Change | |
|---|---|---|---|---|
| Clients (30 June) | Number | 3.30 million | 3.41 million | +3.3 % |
| Financial advisors (30 June) | Number | 4,872 | 4,732 | -2.9 % |
| Total sales commission | € million | 114.5 | 115.3 | +0.6 % |
| Brokerage income | € million | 110,9 | 115,3 | +3.9% |
| Unit | 1 Jan. – 30 June 2017 | 1 Jan. – 30 June 2018 | Change | |
|---|---|---|---|---|
| EBIT | € million | 7.8 | 5.6 | -27.5 % |
| EBIT margin* | % | 6.8 | 4.9 | -1.9 %-pts. |
| Consolidatet net income | € million | 5.5 | 3.8 | -32.2 % |
| Earnings per share (basic) | € | 0.39 | 0.26 | -32.2 % |
* Based on total sales commission
Key figures by region H1 2018
| Unit | 1 Jan. – 30 June 2017 | 1 Jan. – 30 June 2018 | Change | |
|---|---|---|---|---|
| Central and Eastern Europe | ||||
| Clients (30 June) | Number | 2.23 million | 2.32 million | +4.0 % |
| Financial advisors (30 June) | Number | 2,831 | 2,760 | -2,5 % |
| Total sales commission | € million | 55.2 | 57.3 | +3.9 % |
| EBIT | € million | 4.9 | 3.7 | -23.8 % |
| EBIT margin* | % | 8.8 | 6.5 | -2.3 %-pts. |
| Germany | ||||
| Clients (30 June) | Number | 623,149 | 619,386 | -0,6 % |
| Financial advisors (30 June) | Number | 1,325 | 1,313 | -0.9 % |
| Total sales commission | € million | 29.1 | 29.0 | -0.5 % |
| EBIT | € million | 3.0 | 3.8 | +26.6 % |
| EBIT margin* | % | 10.3 | 13.1 | +2.8 %-pts. |
| Southern and Western Europe | ||||
| Clients (30 June) | Number | 442,271 | 464,937 | +5.1 % |
| Financial advisors (30 June) | Number | 716 | 659 | -8,0 % |
| Total sales commission | € million | 30.3 | 29.0 | -4.2 % |
| EBIT | € million | 4.0 | 2.9 | -27.9 % |
| EBIT margin* | % | 13.4 | 10.0 | -3.4 %-pts. |
* Based on total sales commission