OVB posts further growth in number of clients and financial advisors
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- Client base increases by 2.3%
- Number of financial advisors up 3.1%
- Brokerage income in Q1 2023 in line with planning at €83.4 million and thus almost at previous year’s level
Cologne, 9 May 2023. OVB Holding AG, one of Europe’s leading financial advisory groups headquartered in Cologne, expanded its client base by 2.3% year-on-year to 4.27 million clients. In the first three months of 2023, the OVB sales team saw growth of 3.1% to 5,785 full-time financial advisors.
Brokerage income was in line with planning at 83.4 million in the first three months. While income in the Central and Eastern Europe segment increased by 11.3% to €45.2 million, the Germany segment and the Southern and Western Europe segment recorded declines in sales, partly due to a market-induced significant decrease in financing business.
In addition to a workforce expansion in line with planning and an increase in sales and training events, the development of operating income (EBIT) was primarily due to inflation-driven cost increases. Overall, EBIT in the first three months of 2023 declined to €3.1 million in line with planning and as a result of the effects mentioned above.
Mario Freis, CEO of OVB Holding AG: “We were already expecting the first quarter to be challenging for us in terms of sales and business. As our results are in line with our planning and we are confident for the coming quarters, we are maintaining our forecast.”
Outlook for the year as a whole
Despite the market environment dominated by political and economic challenges, OVB is optimistic for the 2023 financial year.
To take account of the continuing uncertainties over macroeconomic developments, OVB is anticipating brokerage income in a range between €325 million and €350 million and operating income of between €16 million and €19 million in the Group for the 2023 financial year.
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 product partners 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 16 European countries. 5,785 full-time financial advisors currently take care of 4.27 million clients. In 2022, OVB Holding AG and its subsidiaries generated brokerage income of €331.9 million and EBIT of €22.0 million. OVB Holding AG has been listed on the Frankfurt Stock Exchange (Prime Standard, ISIN DE0006286560) since July 2006.
Key figures for the OVB Group for the first quarter of 2023
| Unit | 1.1.–31.3. 2022 | 1.1.-31.3. 2023 | Change | |
|---|---|---|---|---|
| Clients | Number | 4.18 m | 4.27 m | +2.3% |
| Financial advisors | Number | 5,613 | 5,785 | +3.1% |
| Brokerage income | € million | 84.2 | 83.4 | -1.0% |
Key financial figures
| Unit | 1.1.–31.3. 2022 | 1.1.-31.3. 2023 | Change | |
|---|---|---|---|---|
| Earnings before interest and taxes (EBIT) | € million | 6.0 | 3.1 | -48.5% |
| EBIT margin | % | 7.2 | 3.7 | -3.4%-pts |
| Consolidated net income (after non-controlling interests) | € million | 3.4 | 2.3 | -31.9% |
| Earnings per share (undiluted) | € | 0.24 | 0.16 | -31.9% |
Key figures by region for the first quarter of 2023
| Unit | 1.1.–31.3. 2022 | 1.1.-31.3. 2023 | Change | |
|---|---|---|---|---|
| Central and Eastern Europe | ||||
| Clients | Number | 2.85 m | 2.91 m | +2.1% |
| Financial advisors | Number | 3,308 | 3,549 | +7.3% |
| Brokerage income | € million | 40.7 | 45.2 | +11.3% |
| Earnings before interest and taxes (EBIT) | € million | 4.6 | 2.7 | -41.6% |
| EBIT margin | % | 11.4 | 6.0 | -5.4 %-pts |
| Germany | ||||
| Clients | Number | 614,513 | 613,588 | -0.2% |
| Financial advisors | Number | 1,203 | 1,161 | -3.5% |
| Brokerage income | € million | 15.9 | 13.8 | -13.1% |
| Earnings before interest and taxes (EBIT) | € million | 2.4 | 1.4 | -43.3% |
| EBIT margin | % | 15.2 | 9.9 | -5.3%-pts |
| Southern and Western Europe | ||||
| Clients | Number | 711,801 | 747,983 | +5.1% |
| Financial advisors | Number | 1,102 | 1,075 | -2.5% |
| Brokerage income | € million | 27.6 | 24.3 | -12.0% |
| Earnings before interest and taxes (EBIT) | € million | 2.8 | 1.2 | -56,6% |
| EBIT margin | % | 10.3 | 5.1 | -5.2%-pts |
Percentages and figures may be subject to rounding differences. Percentages are calculated on the basis of EUR thousand.