OVB continues to grow

11 August 2016 – The financial broker OVB generated sales growth of 4.4 percent to €115.8 million in the first half of the current financial year (previous year: €110.9 million). According to information from the company, its operating income climbed by 32.8 percent from €6.1 million to €8 million. By contrast, the number of customers advised decreased slightly by 0.3 percent to 3.26 million (previous year: 3.27 million).

OVB states that its total sales commission in Southern and Western Europe increased by 18.3 percent from €25.7 million to €30.4 million in the first half of 2016. Sales growth in Germany amounted to 1.8 percent. Earnings in Central and Eastern Europe declined slightly year-on-year by 0.6 percent to €54.8 million (previous year: €55.1 million).

“Although the environment remains challenging, we enjoyed positive development in all segments in the first half of 2016,” commented Mario Freis, CEO of OVB Holding AG, with regard to the mid-year figures.
By its own account, the financial broker is forecasting a slight increase in total sales commission for the 2016 financial year as a whole and a slight year-on-year increase in operating income. (vwh/mvd)

© Verlag Versicherungswirtschaft GmbH