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OVB Holding AG: International position secures OVB stable results above the industry trend in 2013 (news with additional features) - Seite 2
developments in individual countries. For example, in the past financial
year, a decline in sales in the Czech Republic, triggered by an abortive
pension reform, was offset by strong growth in markets such as Spain, Italy
and Hungary.
In Germany, the development of new business was affected by the general
pension provision fatigue. Overall, OVB was unable to break away completely
from the negative general market trend. The Group's total sales commission
fell by 4.6% year on year to EUR204.8 million. This includes negative
currency effects of EUR2.3 million. Operating income (EBIT) at EUR10.2
million was stable compared to the previous year, in which OVB posted a
jump in income of more than 70% to EUR10.7 million.
"In view of the highly challenging environment, in which in most European
countries neither the general economic situation nor politics provided
impetus, we are happy with the result achieved in 2013. The result confirms
that our strategic positioning is the right one. Nonetheless, OVB must
continue making a tremendous effort in 2014 to stabilise and build on its
good competitive position," emphasises Michael Rentmeister.
He went on to announce the proposal to the Annual General Meeting on 6 June
2014 of the payment of a dividend from the annual results generated in 2013
of EUR0.55 per share, which is the same as in the previous year.
Priorities for 2014
To consolidate and increase its own competitiveness, OVB will continue to
work consistently in 2014 on implementing the core measures launched as
part of "Strategy 2016". Above all, the improvement of IT support will
increase consulting quality and make internal processes more efficient. "On
the basis of speculative applications, we have been noticing for some time
that our innovation strategy, along with the preservation of existing
strengths for the benefit of our sales partners, is increasingly making OVB
an interesting address for entrepreneurial consultants. We will continue on
this path consistently in 2014," said Rentmeister.
To gain greater influence within the existing structures, Thomas Hücker
will move up into the Executive Board of the German subsidiary OVB
Vermögensberatung AG at the beginning of April, where he will be
responsible for the Operations department.
Together with Lutz Richter (Sales) and Jürgen Kotulla (Marketing), he will
strengthen OVB's market position in Germany. Michael Rentmeister and Oskar
Heitz will withdraw from the operational management of the German
subsidiaries and henceforth concentrate on Group controlling.
countries neither the general economic situation nor politics provided
impetus, we are happy with the result achieved in 2013. The result confirms
that our strategic positioning is the right one. Nonetheless, OVB must
continue making a tremendous effort in 2014 to stabilise and build on its
good competitive position," emphasises Michael Rentmeister.
He went on to announce the proposal to the Annual General Meeting on 6 June
2014 of the payment of a dividend from the annual results generated in 2013
of EUR0.55 per share, which is the same as in the previous year.
Priorities for 2014
To consolidate and increase its own competitiveness, OVB will continue to
work consistently in 2014 on implementing the core measures launched as
part of "Strategy 2016". Above all, the improvement of IT support will
increase consulting quality and make internal processes more efficient. "On
the basis of speculative applications, we have been noticing for some time
that our innovation strategy, along with the preservation of existing
strengths for the benefit of our sales partners, is increasingly making OVB
an interesting address for entrepreneurial consultants. We will continue on
this path consistently in 2014," said Rentmeister.
To gain greater influence within the existing structures, Thomas Hücker
will move up into the Executive Board of the German subsidiary OVB
Vermögensberatung AG at the beginning of April, where he will be
responsible for the Operations department.
Together with Lutz Richter (Sales) and Jürgen Kotulla (Marketing), he will
strengthen OVB's market position in Germany. Michael Rentmeister and Oskar
Heitz will withdraw from the operational management of the German
subsidiaries and henceforth concentrate on Group controlling.
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