OVB Holding AG · XETR:O4B
OVB — FY2013 Earnings Presentation
28 slides from OVB's earnings presentation, Mar 26, 2014
Slide 1: OVB Holding AG Consolidated results 2013
OVB Holding AG Consolidated results 2013 Press Meeting / Analyst Conference ■ more than 40 years' experience ■ represented in 14 countries ■ 3.1 million clients ■ 5,100 financial consultants ■ 503,000 new contracts per year ■ over 100 product partners Frankfurt/M., 26 March 2014 Michael Rentmeister,
Slide 2: Agenda
Agenda 1. From our perspective 2. General conditions and outlook for 2014 3. Overview and development of value factors 4. Key figures/financial information 5. Summary 6. Annex OVB Allfinanz – simply better OVB consolidated results 2013 – 26 March 2014 2
Slide 3: From our perspective ...
Annual Report 2013 » From our perspective ... In the “From our perspective” chapter of our annual report, we tackle old and new prejudices and criticisms of the business model of financial sales organisations and also of course the risk of excessive government regulation. At the same time, we want t
Slide 4: Our service is actually quite simple
Our service is actually quite simple We talk to people about their wishes and goals, find out about their current situation in life and work out individual solutions in consideration of state-guaranteed social security and government incentives. In doing this, OVB has been emphasising the protection
Slide 5: Familiar OVB theories on the future of financial consulting
Familiar OVB theories on the future of financial consulting Retention of a variety of different remuneration models without regulated price control 1 ■ Avoid price increases and ensure the quality of consulting by retaining a variety of business systems (commission-based consulting, fee-based consul
Slide 6: OVB calls for regulatory and political conditions that safeguard the diversity of sales channels
OVB calls for regulatory and political conditions that safeguard the diversity of sales channels We know Without personal consulting, people do not make sufficient private provision. The level of private provision desired by the government is not achievable without financial consultants. Restriction
Slide 7: Will standardised product information sheets create more trust and less complexity?
Will standardised product information sheets create more trust and less complexity? Retirement Provision Improvement Act – introduction of a standardised product information sheet for Riester and Rürup retirement plans • Focus: Transparency, comparability and comprehensibility • Information includin
Slide 8: OVB calls for regulatory and political conditions that safeguard the diversity of sales channels
OVB calls for regulatory and political conditions that safeguard the diversity of sales channels We know Without personal consulting, people do not make sufficient private provision. The level of private provision desired by the government is not achievable without financial consultants. Restriction
Slide 9: What does OVB do exactly?
What does OVB do exactly? Banks Insurance Building Investment Property companies societies companies companies Building society Banking products Insurance Investment funds Property savings contracts PREMIUM SELECT STRATEGY Cost transparency Yes State price cap No CROSS-THEMATIC ADVISORY SERVICE Wish
Slide 10: Clients are concerned with acquisition costs and requirement-focused consulting
Clients are not concerned with commissions, but rather with acquisition costs and whether consulting is focused on products or requirements LI distribution costs of various sales channels Other distribution costs Acquisition commission Exclusive agencies Bank sales channels Broker sales channels Lar
Slide 11: Agenda
Agenda 1. From our perspective 2. General conditions and outlook for 2014 3. Overview and development of value factors 4. Key figures/financial information 5. Summary 6. Annex OVB Allfinanz – simply better OVB consolidated results 2013 – 26 March 2014 11
Slide 12: Outlook for 2014
Outlook for 2014 ■ Demografic development Unchanged conditions ■ The persistent low-interest environment is a challenge for all market participants ■ Partly one-sided public discussions about costs and further regulation fail to capture the role of financial consulting and fuel customers’ scepticism
Slide 13: Agenda
Agenda 1. From our perspective 2. General conditions and outlook for 2014 3. Overview and development of value factors 4. Key figures/financial information 5. Summary 6. Annex OVB Allfinanz – simply better OVB consolidated results 2013 – 26 March 2014 13
Slide 14: 2013 financial year – Overview
2013 financial year – Overview OVB’s international position stabilises business performance, compensates for market developments in individual countries and ensures stable results in 2013 2013 2012 Total sales €204.8 million (€214.7 million) EBIT €10.2 million (€10.7 million) Consolidated net
Slide 15: The number of customers advised increased again – consultant organisation stable
The number of customers advised increased again – consultant organisation stable Financial consultants Clients + 2.7% - 0.3% 3.0 million 3.1 million 5,097 5,082 2012 2013 2012 2013 ■ Southern and Western Europe: Significant increase ■ Comprehensive consulting based on the systematic (totalling + 7.2
Slide 16: Marked focus on real value in retirement provision
Marked focus on real value in retirement provision Composition of new business in 2013 (2012) Company pension Home loan savings/financing 8% (6%) plan products 1% (2%) Property and accident insurance 8% (8%) Health insurance 2% (3%) Investment funds 2% (2%) Funds-based provision products Other pensi
Slide 17: Agenda
Agenda 1. From our perspective 2. General conditions and outlook for 2014 3. Overview and development of value factors 4. Key figures/financial information 5. Summary 6. Annex OVB Allfinanz – simply better OVB consolidated results 2013 – 26 March 2014 17
Slide 18: OVB asserts itself in a challenging environment as a leading European financial service provider
OVB asserts itself in a challenging environment as a leading European financial service provider Total sales commission (in € million) ■ Country mix stabilises sales development 214.7 ■ Decline in Czech Republic 204.8 ■ Sales increases in Slovakia, Hungary, Ukraine 121.1 ■ Modest business performanc
Slide 19: Stable results despite decline in sales
Stable results despite decline in sales EBIT (in € million) ■ Stable results in view of last year’s jump in earnings (+ 73%) 10.7 10.2 ■ Investments in the future accompanied by strict cost 7.0 6.5 management ■ Optimisation of administrative processes results in a 1.9% decline in 11.6 other operatin
Slide 20: Selected items of the consolidated income statement
Selected items of the consolidated income statement (€ million, rounded) 2013 2012 Change Total sales commission* 204.8 214.7 - 4.6% ■ Total sales commission affected by negative currency effects (€2.3 million) Brokerage expenses** - 139.1 - 149.1 - 6.7% Gross profit 65.7 65.6 + 0.2% ■ Gross profit
Slide 21: Consolidated balance sheet (selected items)
Consolidated balance sheet (selected items) (€ million, rounded) 31/12/2013 31/12/2012 ■ Solid finances engender trust among customers, financial consultants and Assets product providers A. Non-current assets 21.3 22.0 ■ OVB has sufficient leeway for strategic initiatives B. Current assets 125.4 131
Slide 22: Agenda
Agenda 1. From our perspective 2. General conditions and outlook for 2014 3. Overview and development of value factors 4. Key figures/financial information 5. Summary 6. Annex OVB Allfinanz – simply better OVB consolidated results 2013 – 26 March 2014 22
Slide 23: Summary
Summary Ongoing system discussions promote the public’s pension provision fatigue and put private pension provision at risk. The constant preoccupation with issues of greater regulation undermines our original task, comprehensive and demand-orientated consulting of our customers on pension provision
Slide 24: Annex
Annex OVB Allfinanz – simply better OVB consolidated results 2013 – 26 March 2014 24
Slide 25: Shareholder structure / Share data OVB Holding AG
Shareholder structure / Share data OVB Holding AG Actual shareholder structure Share data 2013 WKN / ISIN Code 628656 / DE0006286560 Streubesitz Deutscher Ring IDUNA 3.19 % Krankenversicherungs- Vereinigte verein a.G. Stock symboll O4B Lebensversicherung aG 3.74 % 31.48 % Reuters O4BG.DE Bloomberg O
Slide 26: Financial Calendar 2014
Financial Calendar 2014 March 2014 26 March 2014 Frankfurt/Main Publication of annual financial statements 2013, annual report, analyst conference May 2014 14 May 2014 Cologne Results for the first quarter of 2014 and conference call June 2014 6 June 2014 Cologne Annual General Meeting August 2014 1
Slide 27: Contact
Contact OVB Holding AG Heumarkt 1 50667 Cologne Germany www.ovb.ag Jürgen Kotulla Brigitte Bonifer General Manager/authorised signatory Director/authorised signatory Marketing/Communication Investor Relations Tel.: +49 221 - 2015 - 233 Tel.: +49 221 - 2015 - 288 Fax: +49 221 - 2015 - 224 Fax: +49 22
Slide 28: Disclaimer
Disclaimer The information in this document in some cases includes forward-looking statements that are based on assumptions and expectations and are subject to unforeseeable risks. If the assumptions regarding the further internal and external growth of the company prove to be inaccurate or if other