OVB starts the 2019 financial year with significant rise in sales
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Cologne, 8 May 2019. The European financial advisory group OVB enjoyed a good start to 2019. Brokerage income reached a total of €63.1 million in the months from January to March, representing a considerable 7.8% upturn on the previous year. Business performance was also bolstered by the initial consolidation of the Belgian subsidiary.
The number of clients advised by OVB across 15 European countries rose by over 250,000 year on year to 3.63 million. OVB was also successful when it came to attracting new financial advisors, with numbers across Europe climbing from 4,709 to 4,911 advisors, a 4.3% increase.
Mario Freis, CEO of OVB Holding AG, is pleased with 2019’s business performance to date: “We are delighted that we were able to expand our sales performance across Europe in the first quarter and also complete the acquisition of our Belgian subsidiary.”
With operating income of €2.6 million generated in the first three months of the year, OVB fell slightly short of the previous year’s figure, primarily a result of expenses that, different from the previous year, were incurred one quarter earlier. Consolidated net income performed well, rising from €1.9 million to €2.4 million.
Guidance for 2019 as a whole remains unchanged. For the 2019 financial year, the Executive Board anticipates a significant increase in sales overall – partly due to the sales contribution from the new national market Belgium. Despite the continued high expenses for strategic measures, operating income should rise to between €13.5 million and €14.0 million.
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. 4,911 full-time financial advisors currently advise 3.63 million clients.
In 2018, OVB Holding AG and its subsidiaries generated total sales commission of €231.3 million and EBIT of €13.2 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 2019
| Unit | 1/1– 31/3/2018 | 1/1- 31/3/2019 | Change | |
|---|---|---|---|---|
| Clients (31 March) | Number | 3.37 m | 3.63 m | + 7.7 % |
| Financial advisors (31 March) | Number | 4,709 | 4,911 | + 4.3 % |
| Brokerage income | € million | 58.6 | 63.1 | + 7.8 % |
Key financial figures
| Unit | 1/1– 31/3/2018 | 1/1- 31/3/2019 | Change | |
|---|---|---|---|---|
| Earnings before interest and taxes (EBIT) | € million | 2.9 | 2.6 | - 11.9 % |
| EBIT margin* | % | 5.0 | 4.1 | - 0.9 %-pts |
| Consolidated net income (after non-controlling interests) | € million | 1.9 | 2.4 | + 28.1 % |
| Earnings per share (basic) | € | 0.13 | 0.17 | + 28,1 % |
* Based on brokerage income
Key figures by region for the first quarter of 2019
| Unit | 1/1– 31/3/2018 | 1/1- 31/3/2019 | Change | |
|---|---|---|---|---|
| Central and Eastern Europe | ||||
| Clients (31 Mar.) | Number | 2.29 m | 2.42 m | + 5.3 % |
| Financial advisors (31 Mar.) | Number | 2,748 | 2,779 | + 1.1 % |
| Brokerage income | € million | 29.4 | 29.0 | - 1.1 % |
| EBIT | € million | 2.0 | 1.5 | - 25.4 % |
| EBIT margin* | % | 6.7 | 5.1 | - 1.6 %-pts |
| Germany | ||||
| Clients (31 Mar.) | Number | 618,793 | 616,307 | - 0.4 % |
| Financial advisors (31 Mar.) | Number | 1,306 | 1,299 | - 0.5 % |
| Brokerage income | € million | 14.5 | 14.9 | + 2.8 % |
| EBIT | € million | 1.7 | 1.9 | + 11.5 % |
| EBIT margin* | % | 11.9 | 12.9 | + 1.0 %-pts |
| Southern and Western Europe | ||||
| Clients (31 Mar.) | Number | 461,152 | 600,534 | + 30.2 % |
| Financial advisors (31 Mar.) | Number | 655 | 833 | + 27.2 % |
| Brokerage income | € million | 14.7 | 19.2 | + 30.6 % |
| EBIT | € million | 1.5 | 1.3 | - 17.6 % |
| EBIT margin* | % | 10.4 | 6.6 | - 3.8 %-pts |
* Based on brokerage income