DGAP-News

OVB Holding AG: OVB continues on profitable growth path (news with additional features)

DGAP-News: OVB Holding AG / Key word(s): Interim Report
OVB Holding AG: OVB continues on profitable growth path (news with
additional features)

11.05.2016 / 08:11
The issuer is solely responsible for the content of this announcement.

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OVB continues on profitable growth path
- Total sales commission increases by 4.8% to EUR57.1 million
- EBIT rises by 31.6% to EUR3.0 million
- First quarter exceeds expectations

Cologne, 11 May 2016 - In the first quarter of 2016, the European financial
advisory group OVB recorded positive business performance that exceeded
expectations. All of the Group's relevant financial figures increased.
While total sales commission rose by 4.8%, EBIT increased by 31.6% and
consolidated net income went up 29.0%. "In the first three months of this
year, we achieved good business performance in a challenging environment.
The balanced nature and stability of the OVB business model has proven
itself once again. Moderate business performance in Slovakia, the Czech
Republic and Poland was offset by positive development on other national
markets of the Central and Eastern Europe segment. The Germany segment saw
a significant year-on-year increase. We continue to see very dynamic growth
in the Southern and Western Europe segment," summarised CEO of OVB Holding
AG Mario Freis regarding the OVB Group's business performance in the first
quarter of 2016.

Development in the segments

The very positive performance in Southern and Western Europe continued
unabated, achieving a rise of 15.2% in total sales commission and a 35.4%
improvement in earnings. In Germany, total sales commission increased by
8.1% - with a significant improvement in earnings by 13.3%. In Central and
Eastern Europe, brokerage income and operating income fell slightly behind
the level of the previous year.

"This indicates that we have grown profitably again across the Group in the
first quarter," highlighted CFO Oskar Heitz.

The number of clients advised amounted to 3.26 million clients at the end
of the reporting period on 31 March 2016 (previous year: 3.24 million
clients). Across Europe, these clients are advised by 5,179 full-time OVB
financial advisors (previous year: 5,204 financial advisors).

Outlook

Based on this successful first quarter, OVB made a slight upward revision
to its sales and earnings expectations for 2016 as a whole. The Executive
Board now anticipates total sales commission for the year as a whole to be