AEVIS Holding SA: Publication of the Annual Report 2014 – Increased turnover and EBITDA but decreased net profit due to exceptional factors

EQS Group-Ad-hoc: AEVIS Holding SA / Key word(s): Final Results

2015-04-30 / 07:20
Release of an ad hoc announcement pursuant to Art. 53 KR.
The issuer is solely responsible for the content of this announcement.


AEVIS Holding SA today published its Annual Report 2014. The holding
continued to implement its growth strategy with the acquisition of
Victoria-Jungfrau Collection. The balance sheet total stands at CHF 1.3
billion, with substantially increased equity (incl. minority interests) at
CHF 319.2 million, representing an equity ratio of 24.8%. Revenues 2014
soared by 19.2% to CHF 542.4 million (2013: CHF 454.7 million). EBITDA
increased to CHF 65.4 million, up 7.6% from the previous year (2013: CHF
60.8 million). Net profit for the period decreased to CHF 6.1 million
(2013: CHF 8.7 million), due to exceptional factors. The Board of Directors
will propose to the Annual General Meeting of Monday 29 June 2015 an
unchanged distribution from capital contribution reserves of CHF 0.55 per

Genolier Swiss Medical Network consolidates on higher level

Genolier Swiss Medical Network (GSMN) continues to be the largest company
in the AEVIS portfolio. The 14 clinics reached a turnover of CHF 461.2
million, 6.3% above the previous year. EBITDA reached CHF 34.5 million,
representing an EBITDA margin of 7.5%. The expansion resulted from both
organic growth and acquisitions. Schmerzklinik Basel AG was integrated in
January, Genolier Swiss Visio Network SA, a subsidiary dedicated to
ophthalmology, in July and the network's first public-private partnership,
a cooperation between the Hôpital du Jura bernois SA in Saint-Imier and
GSMN Neuchatel SA, in autumn 2014. GSMN progressed in terms of size as well
as quality. Nearly 60 additional admitting physicians joined the Group in
2014, underlying the attractiveness of GSMN. In the context of the
development of its clinics and associated services, GSMN invested more than
CHF 40 million in infrastructure and equipment in 2014. The Group has
launched an important recruiting and training programme in its several
professions and will pay special attention to increasing efficiency and

Swiss Healthcare Properties grows portfolio

Swiss Healthcare Properties (SHP) expanded its portfolio with the Air
Glaciers building in Sion and two buildings in Rothrist consisting of
Privatklinik Villa im Park. The 28 properties of SHP generated a rental
income of CHF 31.7 million and an EBITDA of CHF 27.7 million. The current
real estate portfolio has an estimated market value of CHF 685 million at
31 December 2014 and offers additional development potential of up to
20'000 m2. In Genolier, a change of the land use plan is ongoing, which
should allow the creation of a medical and scientific campus.

Victoria-Jungfrau Collection profits from diversified customer base 

Victoria Jungfrau Collection slightly increased both the number of
overnight stays by 5.6% to 162'863 and the average room rate by 5.1% to CHF
371. Turnover reached CHF 74.7 million, 3.6% more than in the previous
year. The profitability of Victoria-Jungfrau Collection also increased,
resulting in an EBITDA of CHF 5.2 million, but remaining well below market
standards. While Victoria-Jungfrau Grand Hotel in Interlaken, the flagship
of the Group, is progressing well, the Palace Luzern is in a difficult
situation, strongly reducing the result of the hotel division. Globally,
the hotels owned by third parties are disadvantaged by too high rents. With
its diversified customer base, Victoria-Jungfrau Collection remains well
positioned to defend its market position, with an important potential for
improvement. Renovation projects are being evaluated, mainly for the
Victoria-Jungfrau Grand Hotel and the Eden au Lac in Zurich. The
repositioning of the hotel chain will take time and require substantial
investments, but presents considerable perspectives for added value.

Successful refinancing with bonds

AEVIS has diversified its financing resources and increased its
independence from bank loans by integrating the capital markets in its
strategy. In May 2014, AEVIS issued a third fixed rate bond in the amount
of CHF 125 million with a 2.75% coupon and maturity in 2019. Profiting from
attractive market conditions, the amount was subsequently increased to CHF
145 million in December 2014.

Outlook 2015

In the current business year 2015, AEVIS expects to realise a turnover of
approximately CHF 600 million, with an unchanged portfolio consolidated
over a 12-month period. Furthermore, the Group plans to continue investing
in complementary activities supporting its overall strategy, such as
outpatient medical centres, medical residences and life sciences. Despite a
slight decrease in the EBITDA level during 2014, mostly due to the
integration of new acquisitions, AEVIS pursues its objective to improve the
EBITDA of its entities by 1.5% to 3% per year. In the mid-term, AEVIS
expects to realise an EBITDA of more than 20% of turnover, on its existing

Detailed reporting
AEVIS Holding SA's Annual Report 2013 can be downloaded via this link:

For further information:
AEVIS Holding AG Media and Investor Relations: 
c/o Dynamics Group, Zurich 
Edwin van der Geest,, 
+41 (0) 43 268 32 35 or +41 (0) 79 330 55 22
Philippe R. Blangey,, 
+41 (0) 43 268 32 35 or +41 (0) 79 785 46 32

AEVIS Holding SA - Investing for a better life
AEVIS Holding SA invests in services to people, healthcare, life sciences,
hotels and lifestyle. AEVIS's main shareholdings are Genolier Swiss Medical
Network, the second largest group of private clinics in Switzerland,
Victoria-Jungfrau Collection AG, a luxury hotel group managing four palace
hotels in Switzerland, Swiss Healthcare Properties AG, a company
specialised in medical real estate, Nescens SA, a brand dedicated to better
aging, and AS Ambulances Services SA. AEVIS wishes to progressively develop
new sectors of activity, amongst others in the sector of outpatient
surgical centres, radiology or dental medicine, in hotel or hotel-related
activities. AEVIS is listed on the Domestic Standard segment of the SIX
Swiss Exchange under the ticker AEVS.SW.
End of ad hoc announcement


2015-04-30 News transmitted by EQS Schweiz AG. - news

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