AEVIS VICTORIA SA / Key word(s): Half Year Results 16-Sep-2021 / 07:00 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement. Ad hoc announcement pursuant to Art. 53 LR Fribourg, 16 September 2021 AEVIS VICTORIA SA: Half-year results 2021 - EBITDAR margin surges to 23.4% The investment company AEVIS VICTORIA SA (AEVIS) achieved encouraging results in the first half of 2021, driven by the recovery in the healthcare sector and the strong performance of its participation in Swiss Medical Network. Total revenue of the fully consolidated participations increased by 18.2% from CHF 346.6 million to CHF 409.8 million in the reporting period. The pandemic-related shortfalls in hotels and restaurants for 2020 and 2021 were compensated by a hardship indemnity of approximately CHF 22 million, which is reported as other revenue in the respective segments. The increase in revenue coupled with operational improvements led to the EBITDAR increasing significantly from CHF 38.3 million to CHF 84.0 million, corresponding to an operating margin of 23.4%. The more than doubling in the operating result, combined with only slightly higher other expenses, resulted in a net profit of CHF 14.3 million, compared to a loss of CHF 14.1 million in the previous year. AEVIS's balance sheet was significantly strengthened, with an increase in equity of more than CHF 100 million and a decrease in net debt of almost CHF 70 million. Cash and cash equivalents surged by nearly 44% to CHF 94 million at the end of the reporting period. In a strategic move, AEVIS sold 10% of the share capital of Swiss Medical Network to Medical Properties Trust, Inc. and completed a restructuring of its holding in Générale Beaulieu Holding SA in spring 2021. AEVIS also established a joint venture with Touring Club Suisse (TCS) to develop a Swiss-wide ambulance company, by selling TCS 60% of Swiss Ambulance Rescue. This resulted in a significant gain at the holding level, amounting to CHF 207 million as of 30 June 2021. In order to strengthen the autonomy of Swiss Medical Network, AEVIS intends to continue to selectively sell stakes to fitting partners. AEVIS is currently in talks with further domestic and foreign interested parties from the healthcare and insurance sectors. Further such sales would again lead to significant profits at the holding level and boost AEVIS's financial power for the expansion of its other investments or the development of new pillars. Swiss Medical Network sees significant increase in activities and profitability Hospitality sector remains impacted by the pandemic Real estate portfolio contributes recurring profit Outlook Based on the substantial profit at the holding level of more than CHF 200 million already achieved at half-year, the Board of Directors of AEVIS intends to propose the distribution of a dividend at the next General Shareholders Meeting in 2022. The Board will decide on the amount of the distribution after the end of the 2021 financial year and the assessment of the holding profitability level. Detailed reporting
For further information: AEVIS VICTORIA SA - Investing for a better life End of ad hoc announcement |
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AEVIS Victoria SA published this content on 16 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 September 2021 05:31:00 UTC.