OVB continues to grow in the first nine months of 2016
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- Total sales commission up 3.2 percent year on year
- Operating income up 20.4 percent
- Affirmation of mid-year increase in forecast for 2016
Cologne, 10 November 2016 – The European financial advisory group OVB
Holding AG continued its positive business and income trend in the first nine months of 2016: the Group's total sales commission rose by 3.2 percent to €171.1 million (Q1-Q3 2015: €165.7 million). The majority of the OVB national companies recorded good or extremely good business performance. Earnings before interest and taxes increased sharply by 20.4 percent to €12.4 million (Q1–Q3 2015: €10.3 million).
"Overall, we are delighted with our business performance in the first nine months in an increasingly challenging European environment. We have continued our growth trend of the first six months, and are affirming our forecast for the year as a whole, which we increased halfway through the year. In the 2016 financial year, we expect a slight rise in sales and sharp growth in operating income", said Mario Freis, CEO of OVB Holding AG, giving his assessment of the situation.
Central and Eastern Europe remains the strongest region
In the Central and Eastern Europe segment, total sales commission rose slightly by 0.3 percent to €81.0 million (Q1–Q3 2015: €80.7 million) in the first nine months despite the expected difficult conditions in some national markets.
In the Germany segment, OVB generated total sales commission of €46.3 million (Q1–Q3 2015: €47.4 million).
There was further strong expansion in the business volume in the Southern and Western Europe segment. Total sales commission grew by 16.6 percent to €43.9 million in the reporting period (Q1–Q3 2015: €37.6 million). The national companies in Spain, Italy and Austria performed particularly well.
Substantial increase in earnings
In the first three quarters of 2016, the OVB Group's operating income rose signifi-cantly year on year by 20.4 percent from €10.3 million to €12.4 million. "Along with the sharp rise in earnings in the Southern and Western Europe segment, the con-sistently high earnings contribution of the Central and Eastern Europe segment and the slight improvement in the Germany segment are factors in the positive EBIT trend up to 30 September 2016", said CFO Oskar Heitz.
The Group's EBIT margin, calculated on the basis of total sales commission, rose considerably from 6.2 percent to 7.3 percent. Earnings per share increased by 32.0 percent from €0.51 to €0.68. OVB thus matched the earnings per share of the whole of the 2015 financial year by the end of the third quarter of 2016.
The presentation of the results of the first nine months of 2016 and the interim report can be downloaded from the Investor Relations section of www.ovb.eu.
About the OVB Group
The OVB Group, with its holding company headquartered in Cologne, is one of Eu-rope’s leading financial advisory groups. Since being founded in 1970, OVB’s busi-ness activities have focused on long-term, comprehensive and above all customer-oriented allfinanz consulting for private households. OVB works with more than 100 high-performance providers and uses competitive products to serve its clients’ indi-vidual needs for subsistence and pensions, asset building, asset protection and in-creasing assets. OVB currently operates in a total of 14 countries.
5,089 full-time financial advisors currently advise approximately 3.26 million clients. In 2015, OVB Holding AG and its subsidiaries generated total sales commission of €224.7 million and EBIT of €14.0 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 for the first three quarters of 2016
| Key operating figures | Unit | 01/01 – 30/09/2015 | 01/01 – 30/09/2016 | Change |
|---|---|---|---|---|
| Clients (30/09) | Number | 3.29 million | 3.26 million | - 0.6 % |
| Financial advisors (30/09) | Number | 5,086 | 5,089 | + 0.1 % |
| Total sales commission | Euro million | 165.7 | 171.1 | + 3.2 % |
| Key financial figures | Unit | 01/01 – 30/09/2015 | 01/01 – 30/09/2016 | Change |
|---|---|---|---|---|
| Earnings before interest and taxes (EBIT) | Euro million | 10.3 | 12.4 | + 20.4 % |
| EBIT margin* | % | 6.2 | 7.3 | + 1.1 %-pts. |
| Consolidated net income | Euro million | 7.3 | 9.7 | + 32.0 % |
| Earnings per share (undiluted) | Euro | 0.51 | 0.68 | + 32.0 % |
* on the basis of total sales commission
Key figures by region for the first three quarters of 2016
| Unit | 01/01 – 30/09/2015 | 01/01 – 30/09/2016 | Change | |
|---|---|---|---|---|
| Central and Eastern Europe | ||||
| Clients (30/09) | Number | 2.25 million | 2.20 million | - 2.2 % |
| Financial advisors (30/09) | Number | 3,091 | 3,028 | - 2.0 % |
| Total sales commission | Euro million | 80.7 | 81.0 | + 0.3 % |
| Earnings before interest and taxes (EBIT) | Euro million | 7.1 | 6.7 | - 6.3 % |
| EBIT margin* | % | 8.8 | 8.2 | - 0.6 %-pts. |
| Germany | ||||
| Clients (30/09) | Number | 645,079 | 635,471 | - 1.5 % |
| Financial advisors (30/09) | Number | 1,367 | 1,357 | - 0.7 % |
| Total sales commission | Euro million | 47.4 | 46.3 | - 2.3 % |
| Earnings before interest and taxes (EBIT) | Euro million | 4.8 | 4.9 | + 1.3 % |
| EBIT margin* | % | 10.1 | 10.5 | + 0.4 %-pts. |
| Southern and Western Europe | ||||
| Clients (30/09) | Number | 388,543 | 426,649 | + 9.8 % |
| Financial advisors (30/09) | Number | 628 | 704 | + 12.1 % |
| Total sales commission | Euro million | 37.6 | 43.9 | + 16.6 % |
| Earnings before interest and taxes (EBIT) | Euro million | 4.8 | 6.2 | + 28.9 % |
| EBIT margin* | % | 12.8 | 14.2 | + 1.4 %-pts. |
* on the basis of total sales commission