EANS-News: OVB Holding AG Demand for good consulting grows - OVB benefits
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Financial Figures/Balance Sheet
Köln (euro adhoc) - Demand for good consulting grows -
OVB benefits
In 2012 financial year, Group surpasses three million customers mark
for the first time
Number of consultants in Europe increases to 5,097
EBIT improved significantly by 73.0%
Dividend increase to EUR0.55 per share proposed
Target for 2013: Sales growth with further improved margin
Cologne/Frankfurt am Main, 26 March 2013 - In the 2012 financial year, OVB
Holding AG raised its operating income by 73% to EUR10.5 million (previous
year:
EUR6.1 million) and its EBIT margin from 2.7% to 4.9%, nearly doubling it. In
a
difficult overall market environment, the only financial services provider
operating across Europe achieved new record figures in the number of customers,
consulting capacity and new contracts, continuing the previous year's growth
trend seamlessly. As of the end of 2012, more than 3.0 million customers relied
on the consulting services of OVB. The number of consultants increased by 3.9%
to 5,097. The number of new contracts concluded also increased significantly by
12.0% to 587,140 (previous year: 523,733). The sales performance was
EUR214.7
million, virtually being held stable compared to the previous year's figure
(previous year: EUR222.1 million).
"With approximately 5,100 consultants, approximately 600,000 new contracts and
three million customers, OVB achieved three records simultaneously in 2012.
These results make clear people's great need for consulting deriving from the
urgent need for people to assume responsibility for their own pension
provision. From several hundred thousand consulting interviews per year, we
know that contrary to public perception good multi-topic consulting on a
commission basis continues to meet with a high level of acceptance among
customers. In view of the ongoing discussion about forms of remuneration in the
financial services industry, many consumers are even worried about whether they
are still certain to have access to good and above all affordable consulting",
says Michael Rentmeister, Chief Executive Officer of the OVB Group, explaining
the background to last year's success. "The feedback from our customers clearly
shows that our consulting approach and our range of products meet people's
needs. For this reason, we will vigorously continue to pursue our course.
To allow us to provide even more customers in the markets in which OVB has a
presence with competent consulting in all matters relating to private pension
provision, we are focusing on our successful business model as a 'company for
entrepreneurs'. We are also investing in one-stop financial consulting as well
as the qualification of our employees and in committing them to OVB for the
long term."
Consistently positive earnings performance in the segments
The Southern and Western Europe segment showed particularly strong sales
growth. In this segment, OVB increased total sales commission by 16.0% to
EUR26.8
million. Particularly in Italy and Spain, OVB managed to achieve significant
growth, contrary to the macroeconomic trend. In the Central and Eastern Europe
segment, total sales commission stabilised following highly dynamic growth in
2011, amounting to EUR121.1 million (previous year: EUR126.2 million). In
the
Germany segment, the total sales commission collected in 2012 was
EUR66.8
million, after EUR72.8 million in the previous year.
All regional segments contributed to the considerable improvement in operating
income. In Central and Eastern Europe, EBIT rose from EUR10.6 million to
EUR11.6
million. In Germany, EBIT increased from EUR6.1 million to EUR7.0 million.
Southern
and Western Europe, which generated negative operating income of EUR2.4
million
in the previous year, achieved a break-even result in 2012.
Consolidated net income almost doubled, increasing from EUR4.2 million to
EUR8.2
million, resulting in basic earnings of EUR0.57 per share (previous year:
EUR0.29
with the same number of shares). The Executive Board and Supervisory Board will
propose to the Annual General Meeting on 21 June 2013 that it adopt a
significant dividend increase to EUR0.55 per share for the 2012 financial
year
(previous year: EUR0.35).
In the current financial year 2013, OVB plans to improve its sales and
earnings. "Our presence in currently 14 countries in Europe, whose citizens'
need for private savings will increase in the future, is an important factor in
our success and makes us less susceptible to country-specific developments.
Based on this, we offer our financial consultants unique, attractive
professional prospects Europe-wide", says Michael Rentmeister, outlining his
expectations for 2013.
About OVB Group
OVB Group, with its holding company headquartered in Cologne, is one of the
lead-ing European financial sales organisations. Since its founding in 1970,
customer-oriented consulting for private households with regard to asset
protection, asset building, pension plans and real estate acquisition has been
the focus of OVB's business activities. OVB currently advises some 3.0 million
customers across Europe, working in cooperation with over 100 renowned product
partners. OVB is presently active in 14 countries, with 5,097 full-time
financial consultants working for the Group. In 2012, OVB Holding AG and its
subsidiaries generated total sales commission of EUR214.7 million and EBIT
of
EUR10.5 million. OVB Holding AG has been listed on the Frankfurt Stock
Exchange
(Prime Standard, ISIN DE0006286560) since July 2006.
The presentation of the annual results and the annual report 2012 can be
downloaded from the Investor Relations section of www.ovb.ag.
This press release is also available on the Internet at:
www.ovb.ag ( Press ( Press Releases
Key figures for the OVB business year 2012
|Key operating figures|Unit |2011 |2012 |Change |
|Clients (31/12) |Number |2.86 m |3.00 m |+ 4.9% |
|Financial advisors |Number |4,908 |5,097 |+ 3.9% |
|(31/12) | | | | |
|New business |Number |523,733 |587,140 |+ 12.0% |
|Total sales |Euro |222.1 |214.7 |- 3.3% |
|commission |million | | | |
|Key financial figures|Unit |2011 |2012 |Change |
|Earnings before |Euro |6.1 |10.5 |+ 73.0% |
|intrest and taxes |million | | | |
|(EBIT) | | | | |
|EBIT margin* |% |2.7 |4.9 |+ 2.2%-pts.|
|Conolidated net incom|Euro |4.2 |8.2 |+ 95.2% |
| |million | | | |
|Earnings per share |Euro |0.29 |0.57 |+ 96.6% |
|(undiluted) | | | | |
|Dividend per share*1 |Euro |0.35 |0.55 |+ 57.1% |
* Based on total sales commission
*1 For the relevant financial year, 2012 proposal
Key figures by region business year 2012
| |Unit |2011 |2012 |Change |
|Central and Eastern | | | | |
|Europe | | | | |
|Clients (31/12) |Number |1.89 m |2.00 m |+ 5.8% |
|Financial advisors |Number |3,226 |3,307 |+ 2.5% |
|(31/12) | | | | |
|Total sales |Euro |126.2 |121.1 |- 4.0% |
|commission |million | | | |
|EBIT |Euro |10.6 |11.6 |+ 9.4% |
| |million | | | |
|EBIT margin* |% |8.4 |9.6 |+ 1.2%-pts.|
|Germany | | | | |
|Clients (31/12) |Number |656,113 |626,059 |- 4.6% |
|Financial advisors |Number |1,319 |1,343 |+ 1.8% |
|(31/12) | | | | |
|Total sales |Euro |72.8 |66.8 |- 8.2% |
|commission |million | | | |
|EBIT |Euro |6.1 |7.0 |+ 14.8% |
| |million | | | |
|EBIT margin* |% |8.4 |10.5 |+ 2.1%-pts.|
|Southern and Western | | | | |
|Europe | | | | |
|Clients (31/12) |Number |308,298 |310,129 |+ 0.6% |
|Financial advisors |Number |363 |447 |+ 23.1% |
|(31/12) | | | | |
|Total sales |Euro |23.1 |26.8 |+ 16.0% |
|commission |million | | | |
|EBIT |Euro |-2.4 |0.0 |-% |
| |million | | | |
|EBIT margin* |% |-10.5 |0.0 |+10.5%-pts.|
* Based on total sales commission
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OVB Holding AG
Heumarkt 1
50667 Cologne
Germany
Contacts:
Brigitte Bonifer
Investor Relations
Phone: +49 (0)221 / 2015-288
Fax: +49 (0)221 / 2015-325
bbonifer@ovb.de
Antje Schweitzer
Public Relations
Phone: +49 (0)221 / 2015-153
Fax: +49 (0)221 / 2015-138
aschweitzer@ovb.de
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
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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: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart,
regulated dealing/prime standard: Frankfurt
language: English