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
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- 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
- 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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