EANS-News: OVB Holding AG /
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- 9-month report Köln (euro adhoc) - Significant year-on-year sales growth of 11.6% - Sustained upturn in Central and Eastern Europe region - Advisory and support capacity expanded by 246 to 4,822 consultants - Operating income up 14.5% to EUR4.0 million Cologne, 9 November 2011 - The OVB Group, which operates in 14 European countries, recorded total sales commission of EUR162.0 million in the first nine months of 2011, up 11.6% on the figure of EUR145.2 million in the same period of the previous year. "The uncertainty on the capital markets triggered by the eurozone debt crisis means that 2011 has been particularly challenging. In light of these conditions, OVB has enjoyed stable development and has continued to grow," commented Wilfried Kempchen, Chief Executive Officer of OVB Holding AG. Business development in Central and Eastern Europe remained on a sustained upward path: total sales commission of EUR94.3 million was recorded in the first nine months of 2011, 43.3% more than in the previous year (EUR65.9 million). In Germany, total sales commission amounted to EUR50.4 million in the period under review (previous year: EUR52.1 million). OVB´s business development in the Southern and Western Europe segment was impacted by economic crises in certain countries. At EUR17.2 million, total sales commission was down 36.7% on the prior-year figure of EUR27.2 million. The number of new contracts concluded across Europe increased by 15.4% to 387,776. Funds-based pension provision products continued to enjoy the highest demand, accounting for 63% of new contracts (previous year: 57%). 12% (previous year: 16%) of new contracts were for other pension provision products, particularly traditional life and annuity policies. The number of customers rose by 1.6% to 2.84 million. In the period from January to September 2011, OVB´s sales force was expanded by 222 or 5.4% and now consists of a total of 4,822 full-time financial advisors. "The steady growth in our consultant base, particularly in Central and Eastern Europe, will continue to form the basis for our positive sales and earnings outlook in future," noted Wilfried Kempchen. In the first nine months of the 2011 financial year, the OVB Group generated operating income of EUR4.0 million, up 14.5% on the prior-year figure of EUR3.5 million. With an EBIT contribution of EUR8.1 million (previous year: EUR5.6 million) and growth of 45.3%, the Central and Eastern Europe segment was the main driver behind the Group´s earnings development. The EBIT contribution from Germany declined moderately year-on-year, from EUR4.5 million to EUR4.0 million. Due to the sustained weak economic situation in certain countries, the Southern and Western Europe segment recorded an operating loss of EUR1.6 million (previous year: operating profit of EUR0.2 million). "In early 2011, we set ourselves the target of recording higher sales and earnings than in 2010. Based on current figures, we will achieve this target despite the challenges posed by the economic situation in certain national markets," commented Oskar Heitz, Chief Financial Officer of OVB Holding AG. "We are looking to record further sales and earnings growth in our year-end business." OVB Group OVB Group, with its holding company headquartered in Cologne, is one of the leading European financial sales organisations. Since the formation of OVB Vermögensberatung AG in Germany in 1970, customer-oriented consulting for private households in the areas of insurance coverage, asset building and appreciation, pension provision and real estate acquisition have formed the focus of OVB´s business activities. OVB currently advises 2.84 million customers across Europe, working in cooperation with over 100 renowned product partners. OVB is presently active in 14 countries, with 4,822 full-time financial advisors working for the Group. In 2010, OVB Holding AG and its subsidiaries generated total sales commission of EUR197.3 million and EBIT of EUR4.8 million. OVB Holding AG has been listed on the Frankfurt Stock Exchange (Prime Standard, ISIN DE0006286560) since July 2006. OVB will publish the results for the 2011 financial year on 27 March 2012. A presentation and the interim report on the first nine months of 2011 can be downloaded from the Investor Relations section of www.ovb.ag. This IR release is also available on the Internet at: http://www.ovb.ag/InvestorRelations/IRInformationen.aspx ----------------------- OVB Holding AG Heumarkt 1 50667 Cologne Germany IR Contact: Brigitte Bonifer Investor Relations Phone: +49(0)221 / 2015-288 Fax: +49(0)221 / 2015-325 bbonifer@ovb.de ir@ovb.ag Internet: www.ovb.ag Further inquiry note: Brigitte Bonifer Investor Relations Tel.: +49 (0)221 2015 288 E-Mail: bbonifer@ovb.de end of announcement euro adhoc -------------------------------------------------------------------------------- company: OVB Holding AG Heumarkt 1 D-50667 Köln phone: +49 (0)221 2015 0 FAX: +49 (0)221 2015 264 mail: ovb@ovb-holding.ag WWW: www.ovb.ag sector: Financial & Business Services ISIN: DE0006286560 indexes: CDAX, Classic All Share, Prime All Share stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin, Hamburg, Stuttgart, Düsseldorf, München language: English
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