EANS-News: OVB Holding AG / Half-Year Results 2009

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companies/Half-Year Results 2009

Cologne (euro adhoc) - Economic downturn dampens OVB's business
performance in the first half of 2009

-Total sales commission reach EUR 100.7 million (-24.0%)

-Operating income of EUR 4.9 million significantly down year-on-year
(EUR 16.7 million)

-Objectives for the entire year adjusted

Cologne, 13 August 2009 - Business development of the
financial services provider OVB, which operates in 14 European
countries, was mixed in the first half of 2009. "We are convinced
that the current low will lead once more to a new upturn; only the
time of the rebound has yet to be confirmed", said Wilfried
Kempchen, the member of the Executive Board of OVB Holding
AG responsible for foreign business, describing the current market
situation.

In the Central and Eastern Europe region, which is particularly
affected by the international economic downturn, sales
performance of OVB's sales representatives fell by 34.4% to
EUR 41.9 million. Significant losses were sustained in
particular in the national companies in Slovakia, Poland and
Hungary. In Germany, total sales commission reached EUR 37.5
million, corresponding to a drop year-on-year of 9.4%. Encouraging
sales development of the new national companies in Southern and
Western Europe was overshadowed by sharply declining product
sales in Austria, where the investment business collapsed due
to country-specific events. Taken together, the Group's overall
sales commissions fell to EUR 100.7 million in the period
under review, compared with EUR 132.5 million in the corresponding
period last year.

OVB's operating income amounted to EUR 4.9 million in the first six
months of 2009. This is considerably less than the previous year's
EUR 16.7 million, due mainly to the decline in new business. The
profit margin, based on overall sales commissions, amounted to
4.9%, as against 12.6% the previous year. This earnings situation
is not satisfactory, is clearly trailing the long-time levels
achieved by OVB, and is due to the current exceptional circumstances
in the financial and real economy. "On the other hand, OVB is still
earning money in these times of crisis, while other market
participants are recording losses", commented Oskar Heitz, the
member of the Executive Board responsible for the area of Finance.
Operating income, which is acceptable in this light, was
contributed to by the Central and Eastern Europe segment with
EUR 5.7 million (previous year: EUR 12.2 million), the Germany
segment with EUR 3.0 million (previous year: EUR 3.6 million), and
the Southern and Western Europe segment with EUR 0.9 million
(previous year: EUR 4.1 million).Net income for the period
amounted to EUR 3.7 million, after EUR 14.2 million last year. Basic
earnings per share for the first six months of 2009 amounted to
EUR 0.26 compared with EUR 1.00 the previous year.

Times of crisis always offer opportunities as well. They make people
aware of how necessary private savings and protection are in the
area of finance. The number of customers advised by OVB across
Europe increased by 4.1% to 2.79 million over the same period.
The number of OVB sales representatives remained largely stable
with 4,920 financial advisers as against the previous year
(4,950 financial advisers). Customer product demand continues to
focus on fund- linked pension products, which accounted for 57% of
product sales in the first half of 2009.

OVB's business development is being significantly slowed by the
unfavourable macroeconomic conditions that are dominating 2009. It
has therefore adjusted its objectives for the year as a whole,
and now anticipates overall sales commissions of between EUR 190
and 200 million. Operating income is expected to amount to at least
EUR 10 million.

About the OVB Group

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 2.8 million
customers across Europe, working in cooperation with over 100
renowned product partners. OVB is presently active in 14
countries, with more than 4,900 full-time financial consultants
working for the Group. In 2008, OVB Holding AG - which has been
listed on the Frankfurt Stock Exchange (Prime Standard) since
July 2006 - and its subsidiaries generated total sales commission of
EUR260.2 million and EBIT of EUR28.8 million.

OVB will publish its results for the third quarter on 6 November
2009.

A presentation and the Half-Year Report 2009 can be downloaded
from the Investor Relations section of www.ovb.ag.

This IR release is also available on the Internet at: www.ovb.ag (
Investor Relations ( Financial Publications ( IR Releases

Key figures for the OVB Group 6M/2009

|Key operating figures|Unit |01/01 - |01/01 - |Change |
| | |30/06/2008 |30/06/2009 | |
|Clients (30/06) |Number |2.68 |2.79 |+ 4.1 % |
| |million | | | |
|Financial advisors |Number |4,950 |4,920 |- 0.6 % |
|(30/06) | | | | |
|New business |Number of |297,230 |252,934 |- 14.9 % |
| |contracts | | | |
|Total sales |Euro |132.5 |100.7 |- 24.0 % |
|commission |million | | | |

|Key financial figures|Unit |01/01 - |01/01 - |Change |
| | |30/06/2008 |30/06/2009 | |
|Earnings before |Euro |16.7 |4.9 |- 70.7 % |
|interest and taxes |million | | | |
|(EBIT) | | | | |
|EBIT margin* |% |12.6 |4.9 |- 7.7 |
| | | | |%-pts. |
|Consolidated net |Euro |14.2 |3.7 |-74.0 % |
|income |million | | | |
|Earnings per share |Euro |1.00 |0.26 |-74.0 % |
|(undiluted) | | | | |

* Based on total sales commission

Key figures by region 6M/2009

| |Unit |01/01 - |01/01 - |Change |
| | |30/06/2008 |30/06/2009 | |
|Central and Eastern | | | | |
|Europe | | | | |
|Clients (30/06) |Number |1.68 |1.77 |+ 5.4 % |
| |million | | | |
|Financial advisors |Number |2,930 |2,918 |- 0.4 % |
|(30/06) | | | | |
|Total sales |Euro |63.9 |41.9 |- 34.4 % |
|commission |million | | | |
|EBIT |Euro |12.2 |5.7 |- 53.3 % |
| |million | | | |
|EBIT margin* |% |19.1 |13.6 |- 5.5 |
| | | | |%-pts. |
|Germany | | | | |
|Clients (30/06) |Number |690,200 |694,400 |+ 0.6 % |
|Financial advisors |Number |1,252 |1,301 |+ 3.9 % |
|(30/06) | | | | |
|Total sales |Euro |41.4 |37.5 |- 9.4 % |
|commission |million | | | |
|EBIT |Euro |3.6 |3.0 |- 16.6 % |
| |million | | | |
|EBIT margin* |% |8.7 |8.0 |- 0.7 |
| | | | |%-pts. |
|Southern and Western | | | | |
|Europe | | | | |
|Clients (30/06) |Number |307,800 |322,900 |+ 4.9 % |
|Financial advisors |Number |768 |701 |- 8.7 % |
|(30/06) | | | | |
|Total sales |Euro |27.3 |21.3 |- 22.0 % |
|commission |million | | | |
|EBIT |Euro |4.1 |0.9 |-78.0 % |
| |million | | | |
|EBIT margin* |% |15.0 |4.2 |- 10.8 |
| | | | |%-pts. |

* Based on total sales commission

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OVB Holding AG
Heumarkt 1
50667 Cologne
Germany

IR Contact:

Brigitte Bonifer
Investor Relations

bbonifer@ovb.de
ir@ovb.ag
Internet: www.ovb.ag

end of announcement euro adhoc
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ots Originaltext: OVB Holding AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Brigitte Bonifer

Investor Relations

Tel.: +49 (0)221 2015 288

E-Mail: bbonifer@ovb.de

Branche: Financial & Business Services
ISIN: DE0006286560
WKN: 628656
Index: CDAX, Classic All Share, Prime All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / free trade