EANS-News: OVB Holding AG / Signs of business recovery at OVB after cautious start to 2010

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Köln (euro adhoc) - Consolidated sales reach EUR47.6 million in first quarter of
2010 - Central and Eastern Europe as most stable segment - EBIT of
EUR1.3 million - more customers, more financial advisors, more transactions in
the past few weeks

Cologne, 12 May 2010 - OVB Holding AG generated sound results in the first
quarter of 2010 and held its own in an ongoing difficult macroeconomic
environment. Consolidated sales amounted to EUR47.6 million (previous year:
EUR53.8 million). "Economic conditions in Europe still aren´t easy, but we´ve
already identified significant business recovery in the last month of the first
quarter of 2010," explains Wilfried Kempchen, Chief Executive Officer of OVB
Holding AG.

The Central and Eastern Europe region contributed EUR20.6 million (previous
year: EUR21.1 million) to consolidated sales, proving to be the most stable
segment in the Group with a fall in total sales commission of just 2.4%. In the
period between January and March 2010, total sales commission in Germany fell by
15.9% compared with the previous year (EUR21.4 million), totalling
EUR18.0 million. Sales in the Southern and Western Europe segment in the
initial quarter were also down on the previous year´s volume at EUR9 million
(EUR11.4 million).

The Group´s operating income (EBIT) totalled EUR1.3 million in the first
quarter of 2010 (previous year: EUR3.4 million). Central and Eastern Europe
contributed EUR2.1 million to EBIT (previous year: EUR3.3 million). In
Germany, operating income declined to EUR1.8 million (previous year:
EUR2.7 million). EBIT for the Southern and Western Europe region totalled
EUR-0.3 million; in the same period of the previous year, this segment posted
positive operating income of EUR+0.3 million. Consolidated net income in the
period under review amounted to EUR1.1 million, down from EUR2.4 million in the
same quarter of the previous year. Earnings per share amounted to EUR0.08
(previous year: EUR0.17).

The number of customers at OVB remained largely constant at approximately
2.8 million persons - the financial advisors at OVB therefore enjoyed the trust
of their customers even in difficult times. At the end of March 2010, 4,410
full-time financial advisors worked for OVB in 14 countries of Europe. The
number was lower by 254 sales agents compared to the end of the year 2009
(4,664 financial advisors) and by 547 fulltime advisors compared to 31 March
2009 (4,957 advisors). The main reasons for this decline are the temporarily
impaired general conditions and corresponding prospects for income in the
course of the international financial and economic crisis.

The product portfolio of OVB has barely changed: with a share of 55% of new
business in the first quarter (previous year: 58%), funds-based pension
products were the most in demand.

The first signs of a recovery have been noticeable since March - although
business performance in many European countries in the first quarter of 2010
still boded ongoing economic difficulty. "We are very confident overall and
expect the moderate macroeconomic upward trend to have a positive impact on the
business activities of OVB in Europe," states Oskar Heitz, Chief Financial
Officer of OVB Holding AG. "Nevertheless, it is essential that we continue to
optimise structures and processes on an ongoing basis in order to successfully
tackle the challenges of the next few years." As regards sales performance in
the current financial year, OVB expects to achieve about the same figure as
2009.

About the OVB Group

The OVB Group, with its holding company headquartered in Cologne, is one of the
leading European financial sales organisations. Since the formation of OVB
Vermögensberatung AG in Germany in 1970, customer-oriented consulting for
private households in the areas of insurance coverage, asset building and
appreciation, pension provision and real estate acquisition have formed the
focus of OVB´s business activities. OVB currently advises some 2.8 million
customers across Europe, working in cooperation with over 100 renowned product
partners. OVB is presently active in 14 countries, with 4,410 full-time
financial advisors working for the Group. In 2009, OVB Holding AG - which has
been listed on the Frankfurt Stock Exchange (Prime Standard, ISIN DE0006286560)
since July 2006 - and its subsidiaries generated total sales commission of
EUR201.6 million and EBIT of EUR9.6 million.

A presentation and the consolidated interim report on the first quarter of 2010
can be downloaded from the Investor Relations section of www.ovb.ag.

This press release is also available on the Internet at:
www.ovb.ag --> Press --> Press Releases

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OVB Holding AG
Heumarkt 1
50667 Cologne
Germany

Contact:
Brigitte Bonifer
Investor Relations

phone +49 221 / 2015-288
Telefax +49 221 / 2015-325

[email protected]
Internet: www.ovb.ag

Aditional Contact:
Anette Tepel
Stockheim Media GmbH

phone +49 221 / 420 75 - 38
Telefax +49 221 / 420 75 - 59
[email protected]

Further inquiry note:
Brigitte Bonifer
Investor Relations
Tel.: +49 (0)221 2015 288
E-Mail: [email protected]
end of announcement euro adhoc
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issuer: OVB Holding AG
Heumarkt 1
D-50667 Köln
phone: +49 (0)221 2015 0
FAX: +49 (0)221 2015 264
mail: [email protected]
WWW: www.ovb.ag
sector: Financial & Business Services
ISIN: DE0006286560
indexes: CDAX, Classic All Share, Prime All Share
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
Hamburg, Stuttgart, Düsseldorf, München
language: English

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