DGAP-News
OVB posts good results for first half of year - concerns over the future of private pensions in Europe (news with additional features) - Seite 2
time has passed. In our opinion, no new law after the introduction of the
EU Insurance Mediation Directive (IMD) has brought any further benefits as
far as consumer protection is concerned. On the contrary. Any additional
regulation of financial brokerage now actually increases the risk of
poverty in old age significantly."
At its Annual General Meeting in June 2015, OVB therefore proposed a
realignment in several stages together with a harmonisation of the European
old-age pension systems:
- stopping all legislative proposals that include yet more restrictions for
product providers and financial advisors
- focussing of all subsidies exclusively on the formation of additional
pension provisions under the personal responsibility of consumers
- simplifying system by reducing implementation options
Strong business performance on many national markets
The Group's international alignment and its core strategic measures to
become the leading system sales company in Europe form the basis for the
successful business development: An above-average sales performance was
recorded in Slovakia, Spain, Switzerland, Italy and Austria.
In the Southern and Western Europe segment, total sales commission
increased by 21.5% from EUR21.1 million to EUR25.7 million in the first six
months of the year. Sales growth amounted to 5.3% in Germany and 2.1% in
the Central and Eastern Europe segment.
More clients, more financial brokers
The OVB Group has further expanded its client base in Europe to currently
3.27 million clients. The number of licensed financial consultants working
full-time for OVB climbed by 3.4% in the past twelve months to 5,308.
Substantial increase in earnings
Earnings developed in line with sales, with all segments contributing to
the overall increase in earnings of 28.2%. The OVB Group's operating income
totalled EUR6.1 million in the first half of 2015 after EUR4.7 million in
the same period of the previous year.
In the first half of 2015, the Group's EBIT margin based on total sales
commission improved to 5.5% after 4.6% in the same period of the previous
year.
The earnings per share generated by OVB for its shareholders in the period
from January to June climbed by 7.4%.
Continued positive development anticipated
The general conditions for OVB'S business activities are expected to remain
stable over the rest of the year. In view of the results achieved in the
first six months of 2015, OVB anticipates a slight rise in sales for the
year as a whole in comparison to 2014 and expects operating income to
remain stable or increase slightly as against the significantly improved
result for 2014.
OVB Group
product providers and financial advisors
- focussing of all subsidies exclusively on the formation of additional
pension provisions under the personal responsibility of consumers
- simplifying system by reducing implementation options
Strong business performance on many national markets
The Group's international alignment and its core strategic measures to
become the leading system sales company in Europe form the basis for the
successful business development: An above-average sales performance was
recorded in Slovakia, Spain, Switzerland, Italy and Austria.
In the Southern and Western Europe segment, total sales commission
increased by 21.5% from EUR21.1 million to EUR25.7 million in the first six
months of the year. Sales growth amounted to 5.3% in Germany and 2.1% in
the Central and Eastern Europe segment.
More clients, more financial brokers
The OVB Group has further expanded its client base in Europe to currently
3.27 million clients. The number of licensed financial consultants working
full-time for OVB climbed by 3.4% in the past twelve months to 5,308.
Substantial increase in earnings
Earnings developed in line with sales, with all segments contributing to
the overall increase in earnings of 28.2%. The OVB Group's operating income
totalled EUR6.1 million in the first half of 2015 after EUR4.7 million in
the same period of the previous year.
In the first half of 2015, the Group's EBIT margin based on total sales
commission improved to 5.5% after 4.6% in the same period of the previous
year.
The earnings per share generated by OVB for its shareholders in the period
from January to June climbed by 7.4%.
Continued positive development anticipated
The general conditions for OVB'S business activities are expected to remain
stable over the rest of the year. In view of the results achieved in the
first six months of 2015, OVB anticipates a slight rise in sales for the
year as a whole in comparison to 2014 and expects operating income to
remain stable or increase slightly as against the significantly improved
result for 2014.
OVB Group
Diskutieren Sie über die enthaltenen Werte
Aktuelle Themen
Weitere Artikel des Autors
1 im Artikel enthaltener WertIm Artikel enthaltene Werte