OVB Holding AG releases preliminary figures as at 30 September 2020 and provides detailed guidance for 2020 as a whole
Cologne, 2 November 2020 - Despite a deeply uncertain macroeconomic environment, preliminary business figures as at 30 September 2020 show that OVB Holding AG boosted brokerage income by 3.3% year on year in the first three quarters of 2020. Operating income (EBIT) for the first nine months of the 2020 financial year came to €11.1 million (EBIT as at 30 September 2019: €8.6 million).
Following the good performance in the first nine months of 2020, OVB expects brokerage income to rise slightly and EBIT to remain on par with the figure for the 2019 financial year (€14.1 million) in 2020 as a whole, despite market conditions remaining challenging. This comes after OVB, as communicated in the ad-hoc disclosure from 31 July 2020, had anticipated EBIT of between €12.5 million and €13.0 million for 2020 as a whole after the first two quarters of 2020.
OVB plans to release the full figures on business performance in the first nine months of 2020 on 10 November 2020.
EBIT breakdown is shown on page 36 of OVB Holding AG’s 2019 annual report.
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 15 European countries. 5,072 full-time financial advisors advise 3.90 million clients. In 2019, OVB Holding AG and its subsidiaries generated brokerage income of €257.8 million and EBIT of €14.1 million.
OVB Holding AG has been listed on the Frankfurt Stock Exchange (Prime Standard, ISIN DE0006286560) since July 2006.