OVB HOLDING AG Group interim report - First Half-Year
1 January - 30 June 2023
OVB profile
With more than 4.4 million clients, over 5,800 full-time financial advisors and business operations in 16 national markets, OVB is one of the leading financial intermediary groups in Europe.
Contents
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Welcome
OVB on the capital market
Interim consolidated management report
IFRS Interim consolidated financial statements
Notes to the interim consolidated financial statements
Responsibility statement
Review report
04 Welcome
06 OVB on the capital market
07 Course of business
- Macroeconomic environment
- Business performance
- Profit/Loss
- Financial position
- Assets and liabilities
- Personnel
- Supervisory Board
- Subsequent events
- Opportunities and risks
- Outlook
- Consolidated statement of financial position
- Consolidated income statement
- Consolidated statement of comprehensive income
- Consolidated statement of cash flows
- Consolidated statement of changes in equity
20 General information
- Significant events in the interim reporting period
- Notes to the statement of financial position and the statement of cash flows
- Notes to the income statement
- Notes on segment reporting
- Other disclosures relating to the interim consolidated financial statements
- Responsibility statement
- Review report
- Financial Calendar / Contact
- Imprint
Key figures
Key figures for the OVB Group H1 2023
Key operating figures
Clients
Financial advisors
Brokerage income
Key financial figures
Earnings before interest and taxes (EBIT)
EBIT margin
Consolidated net income after non-controlling interests
Earnings per share (undiluted)
Unit
Number
Number
Euro million
Unit
Euro million
%
Euro million
Euro
01/01 - 30/06/2022
4.22 m
5,630
169.7
01/01 - 30/06/2022
11.2
6.6
6.2
0.44
01/01 - 30/06/2023
4.41 m
5,806
170.6
01/01 - 30/06/2023
6.8
4.0
5.3
0.37
Change
- 4.5 %
- 3.1 %
- 0.5 %
Change
- 38.8 %
- 2.6 %-pts
- 14.8 %
- 14.8 %
Key figures for the regions H1 2023
Central and Eastern Europe
Clients
Financial advisors
Brokerage income
Earnings before interest and taxes (EBIT)
EBIT margin
Germany
Clients
Financial advisors
Brokerage income
Earnings before interest and taxes (EBIT)
EBIT margin
Southern and Western Europe
Clients
Financial advisors
Brokerage income
Earnings before interest and taxes (EBIT)
EBIT margin
Unit | 01/01 - | |
30/06/2022 | ||
Number | 2.88 m | |
Number | 3,312 | |
Euro million | 86.5 | |
Euro million | 8.9 | |
% | 10.3 | |
Unit | 01/01 - | |
30/06/2022 | ||
Number | 614,407 | |
Number | 1,211 | |
Euro million | 31.0 | |
Euro million | 3.9 | |
% | 12.4 | |
Unit | 01/01 - | |
30/06/2022 | ||
Number | 722,135 | |
Number | 1,107 | |
Euro million | 52.2 | |
Euro million | 4.5 | |
% | 8.7 | |
01/01 - 30/06/2023
3.04 m
3,581
95.1
8.3
8.7
01/01 - 30/06/2023
613,813
1,165
27.7
2.4
8.6
01/01 - 30/06/2023
757,584
1,060
47.7
1.6
3.4
02
03
Change
- 5.4 %
- 8.1 %
- 10.0 %
- 7.6 %
- 1.7 %-pts
Change
- 0.1 %
- 3.8 %
- 10.8 %
- 38.2 %
- 3.8 %-pts
Change
- 4.9 %
- 4.2 %
- 8.5 %
- 64.3 %
- 5.3 %-pts
Percentages and figures may be subject to rounding differences. Percentages are calculated on the basis of EUR thousand.
Welcome
Frank Burow, CFO | Mario Freis, CEO | Heinrich Fritzlar, COO | |
- Born 1972 | - Born 1975 | - Born 1973 | |
- More than 20 years of experience | - More than 25 years of experience | - More than 20 years of experience | |
in finance, accounting | and | in the distribution of financial | in the fields of insurance and |
controlling | services | IT consulting | |
- With OVB since 2010 | - With OVB since 1995 | - With OVB since 2022 | |
Welcome
Dear shareholders, ladies and gentlemen,
OVB Holding AG achieved slight sales growth in the first half of 2023. After the predictably
difficult first quarter of 2023, we have thus succeeded in quickly returning to a growth trajec- tory. We are seeing a very high level of activity by our European sales team and are registering growing demand for advisory services among our clients. We increased the number of our clients by 4.5 per cent to 4.41 million. We expanded our sales team to a total of 5,806 financial advisors and brokerage income from Euro 169.7 million to Euro 170.6 million.
One of our recipes for success is strong diversification, with pan-European positioning in
16 countries and an extensive, well-balanced product portfolio. We more than compensated for the decline in Germany and in Southern and Western Europe in the first six months of the year with our strong performance in Central and Eastern Europe, where we increased our brokerage income by 10.0 per cent to Euro 95.1 million. We can see a similar mechanism at the level of new business: While higher interest rates are leading to a strong decline in financing business, other product groups are contributing more sales to our new business. For example, we are currently observing increased demand for unit-linked provision products.
As our performance in the first half of 2023 was in line with expectations, we are optimistic and maintaining our forecast for the year as a whole. Taking account of the continuing uncertainties over macroeconomic developments, we are anticipating brokerage income in a range between Euro 325 million and Euro 350 million and operating income of between Euro 16 million and Euro 19 million for the 2023 financial year.
Yours,
04
05
Mario Freis | Frank Burow | Heinrich Fritzlar |
CEO | CFO | COO |
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Disclaimer
OVB Holding AG published this content on 11 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 August 2023 04:59:01 UTC.
