OVB with double-digit sales growth in first half of 2019

Cologne, 14 August 2019 European financial advisory group OVB Holding AG reported extremely pleasing business performance in the first half of 2019. Brokerage income rose significantly by 10.2% year-on-year to €127.1 million. All three regional segments contributed to business expansion: sales of the strongest segment Central and Eastern Europe increased by 2.9% to €59.0 million. In the Germany segment, brokerage income increased by a pleasing 4.0% to €30.1 million. Sales in the Southern and Western Europe segment made a big leap forward by 31.0% to €38.0 million.

The positive sales performance is the result of the great active commitment of our financial advisors. Compared with the middle of 2018, OVB increased the number of customers it advises across Europe by approximately 270,000 to currently 3.67 million. The number of financial advisors working in 15 countries climbed by 4.7% from 4,732 to 4,954.

“Successful business development in the first half of the year also proves that the first measures of our growth targeting strategy are already making an impact.
We are on a very good path,” says Mario Freis, CEO of OVB Holding AG.

Even despite the background of increasing strategic expenses, OVB succeeded in increasing its Group operating income by 1.3% in the first half of 2019 to €5.7 million. EBIT for Central and Eastern Europe rose by 13.1% to €4.2 million.

In the Germany segment, operating income also increased significantly by 8.7% to €4.1 million.

Consolidated net income performed extremely well, rising by 24.0% to €4.7 million. Earnings per share increased from €0.26 to €0.33.

“Based on the results achieved in the first half of 2019, we are confident of generating a significant increase in sales for 2019 as a whole and our EBIT target of €13.5 million to €14.0 million,” remarked CFO Oskar Heitz.

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 15 European countries.

4,954 full-time financial advisors currently advise 3.67 million clients. In 2018, OVB Holding AG and its subsidiaries generated total sales commission of €231.3 million and EBIT of €13.2 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 2019

Key figures by region H1 2019