OVB (O4B) Q2 2024 earnings summary

Executive summary

• Achieved strong sales and earnings growth in H1 2024, with all segments contributing to positive momentum.

• Brokerage income rose 16.5% year-over-year to €198.6 million in H1 2024.

• Net income after non-controlling interests increased 73.8% to €9.2 million; EPS up to €0.65.

• Number of clients reached 4.6 million (+4.3%), and financial advisors exceeded 6,000 (+3.4%).

• Raised full-year 2024 guidance: brokerage income now expected at €380–€395 million; EBIT at €18–€21 million.

Financial highlights

• EBIT increased 35.7% to €9.3 million; EBIT margin improved to 4.7% from 4.0% year-over-year.

• Cash flow from operating activities rose to €18.4 million from €4.1 million; cash and equivalents at €67.0 million.

• Dividend of €0.90 per share distributed, totaling €12.8 million.

• Total assets at €275.7 million; equity ratio at 33.4%.

• Net financial income rose 178.7% to €3.4 million.

Outlook and guidance

• Brokerage income for 2024 expected between €380–395 million; EBIT forecasted at €18–21 million.

• Aims to expand both client base and number of financial advisors, despite challenging market conditions.