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    DGAP-News  313  0 Kommentare OVB on course after nine months (news with additional features)


    DGAP-News: OVB Holding AG / Key word(s): Quarter Results/9-month
    figures
    OVB on course after nine months (news with additional features)

    13.11.2015 / 07:44

    ---------------------------------------------------------------------

    - Group sales up 6.2% year on year
    - Operating income rises by 24.9%
    - Positive outlook

    Cologne, 13 November 2015 - the European financial advisory group OVB
    Holding AG has continued on its growth trajectory in the first nine months
    of the 2015 financial year. Group sales rose 6.2% compared to the first
    nine months of 2014 to EUR165.7 million (Q1-Q3 2014: EUR156.0 million).
    Earnings before interest and taxes increased to EUR10.3 million (Q1-Q3
    2014: EUR8.3 million).

    "We are satisfied with the first nine months of the 2015 financial year.
    Our figures speak for themselves. We are growing because we have advised
    more people. People do not independently concern themselves with their
    financial planning in any of our markets. Without good advice, decisions on
    personal insurance or pensions that need to be made urgently are
    increasingly being put on the back burner. The low-interest-rate policy,
    threat of overregulation and uncertainty in the media are therefore bearing
    fruit that will cost many people dearly in the future, for example in the
    form of old-age poverty. If this vicious circle is to be broken, we must
    put an immediate stop to all new legislative proposals and create a climate
    that makes the occupation of financial consultant more attractive again.
    High-quality advice is not a cost factor, especially in times of low
    interest rates. It becomes expensive only for those who do not seek advice
    and make provisions. It is actually clear to everyone that consumers need
    qualified advice in order to be financially secure in old age. For this
    reason, financial brokers are essential," says Michael Rentmeister, CEO of
    the OVB Group. "The market conditions are currently changing unnecessarily
    at too rapid a pace. All market participants are therefore well advised to
    concentrate on their own homework. That's what we're doing at OVB in any
    case."

    Growth in all segments

    In the Southern and Western Europe segment, OVB increased sales by 18.3% to
    EUR37.6 million in the first nine months of 2015 (Q1-Q3 2014: EUR31.8
    million). This positive development was driven in particular by the
    national companies in Spain, Austria and Switzerland.

    In Germany, sales developed extremely positively in the first nine months
    of 2015 and were well above expectations: they exceeded the previous year's
    figure by 7.2%, reaching EUR47.4 million (Q1-Q3 2014: EUR44.2 million). "We
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    DGAP-News OVB on course after nine months (news with additional features) DGAP-News: OVB Holding AG / Key word(s): Quarter Results/9-month figures OVB on course after nine months (news with additional features) 13.11.2015 / 07:44 --------------------------------------------------------------------- - Group sales up 6.2% …