DGAP-News

OVB shows strength in Europe (news with additional features)

DGAP-News: OVB Holding AG / Key word(s): Half Year Results/Interim
Report
OVB shows strength in Europe (news with additional features)

13.08.2014 / 07:45

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OVB shows strength in Europe

- Significant earnings increase based on strategic measures
- Further growth in sales power and number of clients

Cologne, 13 August 2014 - The European financial service provider OVB
increased its total sales by 2.3% to EUR103.7 million in the first half of
2014. After an anticipated modest performance in the first quarter of 2014,
the Group's sales rose strongly by around 16% year-on-year in the second
quarter of 2014. Despite these successes, Michael Rentmeister, CEO of OVB
Holding AG, expressed concern over private pensions in Europe: "We are
currently seeing an emotionally charged discussion of life insurance and
remuneration models for financial consultants making headlines. And this is
happening even though it is clear and has been largely accepted by clients
that good advice has its price. So it should be much more important to
pillory the devastating effects of the targeted low interest policy on
pensions: It really is the same as dispossessing pension savers and is
doing substantial harm to people's notions about their own pensions, which
they urgently need. Those who draw false conclusions could end up paying a
high price: poverty when they are old."

Growth in client numbers, financial consultant numbers and new contracts

The fact that the need for comprehensive consulting on financial and
pension issues exists can be seen by the growth achieved by OVB in clients,
consultants and the number of new contracts brokered: Since the middle of
2013, the OVB Group has expanded its client base to currently 3.14 million
clients. The number of new contracts concluded rose by 5.7% year-on-year to
247,349. The number of financial consultants working full-time for OVB
climbed by 3.5% in the past twelve months to 5,134. "We are clearly seeing
how crucial it is to systematically continue the core measures initiated in
2012 on our way to becoming Europe's leading system sales company. Measures
such as BOOST(Best of OVB Success Teams), with which OVB supports
successful entrepreneurship in Europe with transparent best practices that
can be multiplied throughout a company are now having a sustainable effect
and are boosting our new business in a demanding field," said Rentmeister
of the positive development in the Group's key operating figures.

Clearly positive business performance on many national markets