IR Release
Cologne (euro adhoc) -
OVB: On a stable growth course
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Cologne, 21 January 2008 - OVB, a leading financial services provider throughout Europe, continued its stable growth course in the closing weeks of the 2007 financial year. Chief Executive Officer of OVB Holding AG, Michael Frahnert, once again confirmed the appraisal according to which OVB achieved total sales commissions of EUR235 to EUR245 million and EBIT of EUR28 to EUR30 million in 2007. And he added: "Based on the information currently available, we are assuming that total sales reached the upper boundary of the forecast range."
In light of the very good results throughout 2007, the OVB Management Board had announced in the Q3 reports its desire to suggest that the dividend be raised to EUR1.15 for the 2007 financial year. "If growth remains stable - and we assume it will - this certainly does not mean that we can now rest on our laurels", Frahnert said in underlining the extremely shareholder-friendly payout policy of OVB. "We consider the OVB share to be an attractive investment in light of our company´s outstanding outlook and the favourable assessment at present. At its current price, the OVB share offers a dividend yield of around 6%." A further positive factor is the successive increase in diversified holdings in OVB Holding AG. With the expiry of the latest holding period from the IPO of around 632,000 shares which were held by the employees, the free float increased to 28.4% as per 30 November 2007. This is meeting with a positive response from share analysts and the capital market. "Very good business prospects, an attractive dividend and a stable shareholder structure speak highly for the OVB share", says Frahnert in support of investment in OVB.
About OVB Holding AG
OVB Holding AG, headquartered in Cologne, Germany, is one of the leading European financial sales organisations. Since its founding in 1970, customer-oriented consulting for private households with regard to insurance coverage, asset building and growth, pension plans and real estate acquisition are the focus of its business activities. Currently OVB advises 2.5 million customers across Europe and works together with more than 100 renowned product partners. OVB Holding AG is presently active in 14 countries and employs more than 9,600 staff. In 2006 the Group, which has been listed on the Frankfurt Stock Exchange (Prime Standard) since July of 2006, generated overall sales commissions in the amount of EUR 213.3 million and an EBIT of EUR 24.1 million.
end of announcement euro adhoc
Further inquiry note:
OVB Holding AG
Heumarkt 1
50667 Cologne
Germany
Brigitte Bonifer
Investor Relations
phone: +49(0)221 - 2015 - 288
Fax: +49 (0)221 - 2015 - 325
bbonifer@ovb.de
Branche: Financial & Business Services
ISIN: DE0006286560
WKN: 628656
Index: CDAX, Classic All Share, Prime All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / free trade