AEVIS VICTORIA SA / Key word(s): Quarter Results
12-May-2021 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.
Fribourg, 12 May 2021
AEVIS VICTORIA SA: First quarter 2021 consolidated revenue increased to CHF 195.7 million (+0.4% compared to 2020 and +10.4% compared to 2019)
Swiss Medical Network growing strongly, hospitality segment still severely impacted by closures and restrictions
Swiss Medical Network SA, a 90% subsidiary of AEVIS VICTORIA SA (AEVIS) achieved revenues of CHF 172.5 million, up 8.1% compared to 2019 (CHF 159.6 million) and 13.3% compared to 2020 (CHF 152.3 million). The activity in 2020 had been affected since mid-March by the ban on elective medical consultations and surgeries. The situation has normalized since the third quarter of 2020 and the private network of clinics and hospitals has returned to growth. The growth was organic, as no significant acquisitions were made during the first quarter. The positive trend is expected to continue and even accelerate as the situation gradually normalizes.
Victoria-Jungfrau AG, the 100% subsidiary of AEVIS operating nine 4 and 5-star hotels in Switzerland, saw its revenues drop by 56.2% to CHF 16.8 million, due to total or partial closures of some of its establishments and travel restrictions affecting the tourism industry. The hotels Victoria-Jungfrau, Monte Rosa and Bellevue Palace were closed for several months due to the health measures that accompanied the pandemic. The federal and cantonal aids, decided at the end of March and progressively implemented by the cantons, will partially compensate the incurred losses. During the first quarter of 2021, an amount of CHF 1.7 million in subsidies was recorded in the hospitality segment. Victoria-Jungfrau expects the situation to gradually normalize in the second half of 2021 and in 2022 and will decide on the opening periods of its seasonal hotels according to the evolution of the situation.
In the second quarter of 2021, AEVIS sold 10% of its subsidiary Swiss Medical Network SA, valuing it at around CHF 1.7 billion. This sale marks the opening-up of the capital of Swiss Medical Network to strategic investors who will enable the network to pursue its development and its transformation into a healthcare organization and to strengthen its autonomy. AEVIS is thus pursuing its strategy of transformation into an investment company, confirming its ability to create value for its shareholders. AEVIS will reimburse its CHF 150 million AEV16 bond on 7 June 2021. The company currently has sufficient liquidity for this reimbursement and will decide on a possible new bond issuance depending on the capital market conditions and the company’s needs.
For further information:
AEVIS VICTORIA SA – Investing for a better life
End of ad hoc announcement