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.
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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 share.

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 quality.

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 operations.

Detailed reporting
AEVIS Holding SA's Annual Report 2013 can be downloaded via this link:
http://www.aevis.com/aevis/pdf/AEVIS_AR_2014.pdf

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

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2015-04-30 News transmitted by EQS Schweiz AG. www.eqs.com - news archive: http://switzerland.eqs.com/de/News

The issuer is responsible for the contents of the release.
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