OVB : Analyst Conference 2024

2023 consolidated financial statements - analyst conference

Cologne, 21 March 2024

Mario Freis, CEO

Frank Burow, CFO

Heinrich Fritzlar, COO

OVB at a glance

More than 50 years' experience

Operating in 16 countries throughout Europe

4.50 million clients

5,892 financial advisors

Over 100 product partners

Presentation on the 2023 consolidated financial statements of OVB Holding AG - 21 March 2024

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Agenda

1. 2023 financial year - an overview
2. Development of clients and financial advisors
3. Brokerage income, international diversification and "allfinanz"
4. Financial information in detail
5. Summary of 2023 and outlook for 2024
6. Annex

Presentation on the 2023 consolidated financial statements of OVB Holding AG - 21 March 2024	Page 3

2023 financial year - an overview

OVB sets new sales record in the 2023 financial year

• Brokerage income up significantly by 6.7% at €354.3 million
• EBIT on target at €17.8 million
• Earnings per share at previous year´s level
• Further growth in the number of clients and financial advisors
• Dividend proposal of €0.90 per share unchanged from the previous year

				2022	2023
	Clients	4.27 million		4.50 million
	Financial advisors	5,772	5,892
	Brokerage income	€331.9 million		€354.3 million
	EBIT	€22.0 million		€17.8 million
	Consolidated net income after non-controlling interests	€14.7 million		€14.3 million
	Earnings per share	€1.03		€1.00
	Dividend per share			€0.90		€0.90*
	* Proposed for 2023
Presentation on the 2023 consolidated financial statements of OVB Holding AG - 21 March 2024

Change

+5.4%

+2.1%

+6.7%

-19.0%

-2.4%

-2.4%

±0.0%

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Increase in the number of clients and financial advisors

Number of clients

Number of financial advisors

• Central and Eastern Europe: Significant growth (+6.7%*)
• Germany: Almost at the previous year's level (-0.5%*)
• Southern and Western Europe: Significant growth (+5.5%*)

• Central and Eastern Europe: Significant growth (+6.8%*)
• Germany: Noticeable decline (-8.1%*)
• Southern and Western Europe: Slight decline (-1.4%*)

	+5.4%
			+2.1%
4.27	4.50
million	million
		5,772	5,892
2022	2023	2022	2023

* year-on-year

Presentation on the 2023 consolidated financial statements of OVB Holding AG - 21 March 2024

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Brokerage income reaches new high in 2023

• Strong growth of 13.8% in the Central and Eastern Europe segment
• Market-relateddecline in the German segment
• Slight growth in Southern and Western Europe

Group

+5.3%

331.9 354.3

20222023

Central and Eastern Europe

	+13.8%
174.4	198.5
2022	2023

Germany

-4.1%

61.258.7

20222023

Southern and Western Europe

+0.8%

96.3	97.2
2022	2023

Presentation on the 2023 consolidated financial statements of OVB Holding AG - 21 March 2024

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Broad product portfolio and pan-European positioning

• Sales by region: Central and Eastern Europe segment's share increases to 56.0%
• "Allfinanz" portfolio: Focus on financial products based on tangible assets and products covering biometric risks

Brokerage income in 2023 (2022) by region

Composition of new business in 2023 (2022)

Southern and Western Europe	Central and Eastern Europe
27.4% (29.0%)	56.0% (52.5%)

€354.3 million

(€331.9 million)

Germany

16.6% (18.4%)

(Percentages calculated on basis of thousands of euros)

Presentation on the 2023 consolidated financial statements of OVB Holding AG - 21 March 2024

Property 0.0% (0.1%)

Other pension products 27.0% (23.4%)

Investment funds 5.8% (6.3%)

Health insurance 2.5% (2.1%)

Property, accident and legal protection insurance 17.3% (15.5%)

Fund-linked pension products 33.3% (32.3%)

State-subsidised pension products 8.0% (8.7%)

Home loan savings/financing 6.1% (11.6%)

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Operating income by segment

22.0

5.2

7.2

18.8

17.8

3.2

4.8

19.6

• EBIT impacted by inflation-related cost increases
• EBIT development in the Germany segment also influenced by investments in digitalisation
• EBIT in the Southern and Western Europe segment characterised by higher personnel expenses and investments in sales expansion

-9.2		-9.8

2022 2023

(in € million, rounded)

Southern and Western Europe

Germany

Central and Eastern Europe

Central units and consolidation

Presentation on the 2023 consolidated financial statements of OVB Holding AG - 21 March 2024

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Selected items of the consolidated income statement

Brokerage income

Brokerage expenses

Gross profit

Other operating income

Other operating expenses

Personnel expenses

Depreciation and amortisation

EBIT (operating income)

Net financial income/expenses

Income tax

Consolidated net income after non-controlling interests

Earnings per share (in euros)

(in € million, rounded)

1 Changes are determined as in the Annual Report (in thousands)

2022		2023		Change1
331.9	354.3	+6.7%
-218.3	-235.8	+8.1%
113.7	118.5	+4.2%
15.0	13.3	-11.1%
-52.6	-55.6	+5.8%
-45.6	-50.1	+10.0%
-8.5	-8.2	-2.9%
22.0	17.8	-19.0%
-0.6	3.1	>+100%
-6.4	-6.2	-2.6%
14.7	14.3	-2.4%
1.03	1.00	-2.4%

Presentation on the 2023 consolidated financial statements of OVB Holding AG - 21 March 2024

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Summary of 2023 and outlook for 2024

Review of 2023

• New high for brokerage income
• Growth momentum increases significantly
• Implementation of the new corporate strategy "OVB Excellence 2027" has been launched

Outlook for 2024 as a whole

• The Executive Board of OVB Holding AG expects that the overall positive trend in sales performance will continue
• In order to take into account the current uncertainties in the macroeconomic development, OVB is forecasting brokerage income for the Group in the range of €360 to €385 million and an operating income of between €17 and €20 million for the 2024 financial year

Presentation on the 2023 consolidated financial statements of OVB Holding AG - 21 March 2024

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