Annual General Meeting of OVB Holding AG: OVB is on track
Cologne, 5 June 2018 – OVB Holding AG looked back the 2017 financial year and the first quarter of 2018 during its Annual General Meeting today. All the items on the agenda were approved by a large majority of the shareholders. They also voted on the new line-up of the Supervisory Board. Each of the proposals of the Nomination and Remuneration Committee was followed by a large majority of the shareholders present. Thus, Michael Johnigk, Markus Jost, Wilfried Kempchen, Dr Thomas A. Lange and Winfried Spies were confirmed in their offices. Maximilian Beck, member of the Board of Directors of Basler Versicherungen, was newly appointed to the Supervisory Board. Moreover, the shareholders resolved the payment of a dividend of €0.75 per share for the 2017 financial year.
Prior to this, OVB Holding AG CEO Mario Freis presented the shareholders with the 2017 business performance as well as the focal points of the “OVB Evolution 2022” corporate strategy that was decided on last year and is currently being implemented. He explained that with the systematic and successful implementation of the strategic measures, which are temporarily impacting the OVB Group’s income statement, OVB is preparing itself for future market requirements and taking account of the changes in the financial services industry. This will pay off in the medium term with additional earnings opportunities, according to Freis.
The OVB Group has performed very successfully in recent years. The total sales commission trended up, operating earnings rose very disproportionately high and the dividend has risen more than one-third, from €0.55 to €0.75, since 2013.
In order to continue its success story in Europe, OVB will push forward with its expansion into promising markets. The company's CEO reiterated its intent to be active in at least two more European national markets by 2022.
Outlook for 2018 confirmed
The Executive Board still anticipates a slight decline in the performance of the total sales commission. In conjunction with higher expenses for strategic measures and the regulatory requirements that need to be implemented, the 2018 operating earnings will come out to €13.0–13.5 million.
Nevertheless the sound financial position of the OVB Group ensures dividend continuity.
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 14 European countries. 4,709 full-time financial consultants currently advise 3.37 million clients.
In 2017, OVB Holding AG and its subsidiaries generated total sales commission of €225.3 million and EBIT of €16.0 million. OVB Holding AG has been listed on the Frankfurt Stock Exchange (Prime Standard, ISIN DE0006286560) since July 2006.