OVB reports sales growth in the first nine months of 2018
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Cologne, 9 November 2018. The financial advisory group OVB achieved total sales commission of €169.1 million from January to September 2018. This corresponds to an increase of 1.6% as against the previous year’s figure of €166.3 million. In the strongest segment, Central and Eastern Europe, brokerage income increased significantly by 3.7% because virtually all national markets performed very positively. At €43.1 million, total sales commissions in the Germany segment were also up on the previous year's figure. In the Southern and Western Europe segment, they were slightly down on the level of the previous year following strong growth in previous years. “Overall, OVB increased sales after nine months. In the light of this positive business development, we are raising the sales forecast and are now assuming a slight increase in sales for 2018 as a whole,” says Mario Freis, CEO of OVB Holding AG.
OVB again expanded its client base by 3.3% to 3.44 million as at the end of September 2018. The number of financial advisors was virtually stable compared with the previous year’s reference date.
The implementation of strategic measures and compliance with more stringent regulatory requirements temporarily impacted – as planned – the income statement. The OVB Group’s operating income amounted to €8.3 million in the period under review (previous year: €10.5 million). OVB’s expectation of EBIT of between €13.0 million and €13.5 million for 2018 as a whole is unchanged.
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. 4,747 full-time financial advisors currently advise 3.44 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 in the first nine months of 2018
| Unit | 1 1. – 30.9.2017 | 1 1. – 30.9.2017 | Change | |
|---|---|---|---|---|
| Clients (30 June) | Number | 3.33 million | 3.44 million | +3.3 % |
| Financial advisors (30 June) | Number | 4,774 | 4,747 | -0.6 % |
| Total sales commission | € million | 166.3 | 169.1 | +1.6 % |
| Brokerage income | € million | 162,6 | 169,1 | +4.0% |
| Unit | 1 1. – 30.9.2017 | 1 1. – 30.9.2017 | Change | |
|---|---|---|---|---|
| EBIT | € million | 10.5 | 8.3 | -21.0 % |
| EBIT margin* | % | 6.3 | 4.9 | -1.4 %-pts. |
| Consolidatet net income | € million | 7.8 | 5.5 | -28.6 % |
| Earnings per share (basic) | € | 0.54 | 0.39 | -28.6 % |
* Based on total sales commission
Key figures by region for the first nine months of 2018
| Unit | 1 1. – 30.9.2017 | 1 1. – 30.9.2017 | Change | |
|---|---|---|---|---|
| Central and Eastern Europe | ||||
| Clients (30 June) | Number | 2.26 million | 2.34 million | +3.9 % |
| Financial advisors (30 June) | Number | 2,755 | 2,786 | +1,1 % |
| Total sales commission | € million | 80.7 | 83.6 | +3.7 % |
| EBIT | € million | 6.4 | 6.3 | -1.6 % |
| EBIT margin* | % | 7.9 | 7.5 | -0.4 %-pts. |
| Germany | ||||
| Clients (30 June) | Number | 623,171 | 619,431 | -0,6 % |
| Financial advisors (30 June) | Number | 1,345 | 1,319 | -1.9 % |
| Total sales commission | € million | 42.9 | 43.1 | +0.5 % |
| EBIT | € million | 4.4 | 4.9 | +10.9 % |
| EBIT margin* | % | 10.3 | 11.4 | +1.1 %-pts. |
| Southern and Western Europe | ||||
| Clients (30 June) | Number | 447,652 | 474,313 | +6.0 % |
| Financial advisors (30 June) | Number | 674 | 642 | -4.7 % |
| Total sales commission | € million | 42.8 | 42.3 | -1.1 % |
| EBIT | € million | 5.4 | 4.5 | -17.7 % |
| EBIT margin* | % | 12.7 | 10.5 | -2.2 %-pts. |
* Based on total sales commission