VZ Holding Ltd

Innere Güterstrasse 2 6300 Zug

Telephone +41 58 411 80 00

www.vzch.com

www.vzfinanzportal.com

VZ Group

1H 2021

Results and outlook

Appendix: company overview

Zug, 11 August 2021

Disclaimer

Forward-looking statements

This publication originates from VZ Holding Ltd and/or its affiliated companies (hereinafter called «VZ»). This publication and the information contained herein are provided solely for information purposes, and are not to be construed as a solicitation of an offer to buy or sell any securities or other financial instruments. The present document is exclusively aimed at natural and legal persons as well as partnerships and corporations, which are not subject to a legal system forbidding the publication or, respectively, the access to such information. The content of the publication was prepared by VZ with the greatest of care and to the best of its knowledge and belief. VZ does not assume any liability as to the correctness, completeness and timelines of the information. VZ declines any liability which may arise from the use or non-use of the information provided. The facts and opinions contained in the present publication may alter at any time and without prior announcement. This publication contains forward-looking statements that involve known and unknown risks, uncertainties or other factors that may cause the actual results to be materially different from any future results, performance, or achievements expressed or implied by such statements. Against the background of these uncertainties, readers should not rely on such forward-looking statements. The company assumes no responsibility to up-date or revise forward-looking statements or to adapt them to future events or developments. Reproduction or modification in whole or in part without prior written permission from VZ is prohibited.

Roundings

Numbers may differ slightly from the published income statements due to rounding differences. All financial information in this presentation ended 30 June is unaudited and is prepared under the same recognition and measurement principles applied for the audited annual financial statements.

Adjustments and Alternative Performance Measures (APMs)

The SIX Exchange Directive on the Use of Alternative Performance Measures does not apply on this investor presentation.

© VZ Holding Ltd

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Agenda

  1. Facts and figures
  2. Financials
  3. Outlook
  4. Appendix

© VZ Holding Ltd

2

Summary 1H 2021

Business development

  • Covid19-impactdiminishing:
    • Consulting business recovering
    • Strong AuM-related revenues due to positive financial markets
    • Positive client behaviour
  • Demand for platform services increasing:
    4'000 consulting clients converted to platform services in 1H 2021 (+30.7% yoy).
  • Pressure on AuM margin stabilised for the time being.
  • Growth of front-end consulting capacity +9.3% to 188 FTEs (avg. 2021, 2022e: 204 FTE).
  • Annualised NNM inflow per consulting FTE at CHF
    26.7 million in 1H 2021 (target range 17-20 million).
  • UK: acquisition of "Lumin Group" (independent financial advisor based in St. Albans/London).
  • Finanzportal: Migration of existing clients to upgraded version.

Financials

  • Top line +17.5% yoy to CHF 187.8 million
  • Operating expenses +14.8% to CHF 97.8 million
    • Personnel expenses +11.2% yoy
    • Other operating expenses +20.4% yoy
  • EBIT margin: 42.7% (1H 2020: 41.2%)
  • Bottom line +21.3% yoy to CHF 68.4 million, Net profit margin: 36.4% (1H 2020: 35.3%)
  • Solid balance sheet
    • Equity ratio: 11.6%
    • BIS CET 1: 23.2%
  • NNM: CHF 2'510 million (1H 2020: CHF 1'640 million)
  • Assets under management: CHF 36.4 billion
    (30.06.2020: CHF 28.6 billion), impact from UK acquisition CHF 0.8 billion

© VZ Holding Ltd

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Revenues: +17.5% yoy

in CHF million

187.8

168.9

13.3

152.9

159.8

14.2

148.8

11.4

34.4

141.3

142.9

13.5

11.6

30.1

10.6

12.8

6.8

32.3

26.1

12.9

31.4

5.8

32.5

28.4

4.6

5.4

12.4

3.4

4.1

11.5

11.8

3.1

10.4

10.5

9.9

Total revenues +17.5% yoy

Consulting revenues1 +16.7% yoy

Banking income from commissions, trading activities and interest business +6.5% yoy

Net earned premiums +25.9% yoy

120.4

Other management fees +9.3% yoy

85.2

87.8

91.3

97.2

98.9

106.4

Management fees on AuM +21.7% yoy

1H18

2H18

1H19

2H19

1H20

2H20

1H21

1 Incl. other revenues

© VZ Holding Ltd

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VZ Holding AG published this content on 11 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 August 2021 08:15:05 UTC.