AEVIS Holding SA

DGAP-Adhoc: AEVIS Holding SA: Substantial increase of revenues and operating profit in first half-year 2014

AEVIS Holding SA  / Key word(s): Interim Report

30.09.2014 07:15

Release of an ad hoc announcement pursuant to Art. 53 KR
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AEVIS Holding SA (AEVIS) today published its Half Year Report 2014. The
company made a significant step forward in the implementation of its growth
strategy with the build-up of a third pillar of activities. The integration
of the luxury hotel chain Victoria-Jungfrau Collection AG (VJC) in
combination with further acquisitions by Genolier Swiss Medical Network
(GSMN) and Swiss Healthcare Properties (SHP) resulted in improved results
in the first half of 2014. Total revenues increased to CHF 268.9 million,
up by 24.0% from the previous year. Based on an unchanged portfolio,
organic growth amounted to 3.6% in the reporting period. The EBITDA soared
to CHF 36.3 million or 13.5% of revenues and the profit for the period
under review amounted to CHF 3.0 million. AEVIS expects to realise a pro
forma turnover of approximately CHF 600 million in 2014 with the current
perimeter (all entities consolidated over a 12 month period, including VJC)
and will focus on improving the EBITDA of its entities by 1.5% to 3% per
year.

At the end of the first half of 2014, AEVIS announces total revenues of CHF
268.9 million, up 24.0% compared to the same period last year (CHF 216.9
million). Even though this increase is mainly due to acquisitions and the
integration of a new pillar of activities, organic growth still amounts to
3.6% compared to the same portfolio last year. EBITDA soared to CHF 36.3
million (CHF 24.7 million) or 13.5% of revenues. The profit for the period
under review amounted to CHF 3.0 million compared to CHF 4.9 million a year
ago. The decrease in net profit is mainly due to increased amortisations
and financial expenses following substantial investments by SHP and into
various GSMN clinics, the integration of VJC as well as the issuance of a
further bond.

Genolier Swiss Medical Network bolsters market position
GSMN continues to account for the majority of revenues achieved within
AEVIS. After the successful integration of Schmerzklinik Basel in January
2014, a total turnover of CHF 237.1 million, 14.4% more than in the
previous year, was achieved in the reporting period. Organic growth
amounted to 3.1% in the first six months of 2014. GSMN has acquired a
majority stake in Visionplus SA, Lausanne, and wishes to develop an
activity in ophthalmic medicine and surgery. The company, renamed Genolier
Swiss Visio Network, is active in the field of ophthalmology, mainly at
Clinique de Montchoisi in Lausanne. Further, GSMN entered into its first
Public-Private-Partnership just after the end of the reporting period. The
Hôpital du Jura bernois SA in Saint-Imier and GSMN Neuchatel SA formed a
cooperation named "Institut de Radiologie du Jura bernois SA" offering
radiology services as well as an ophthalmology consultancy.

Swiss Healthcare Properties' rental income surges
SHP acquired the buildings of Privatklinik Villa im Park in Rothrist and
the premises of Air Glacier in Sion in the period under review. The
healthcare-related real estate portfolio of SHP now consists of 27 entities
located in 12 specific sites with an estimated market value of CHF 640.6
million at the end of the reporting period. All properties, covering a
rental area of 117'000 m2, were fully let (no vacancies) and generated a
rental income of CHF 15.9 million in the first six months of 2014, up from
CHF 12.3 million a year earlier.

Victoria-Jungfrau Collection increases revenues
The tourism industry in Switzerland faced some great challenges and many
hotels saw declining occupancy rates. However, VJC was able to resist this
trend and expand its businesses. A diversified client portfolio, additional
marketing and sales activities and the well-established brand name helped
to increase both the number of overnight stays by 1.8% to 70'985 and the
Average Room Rate by 4.3% to CHF 354. In total VJC achieved a turnover of
CHF 34.1 million in the first six months of 2014. AEVIS and the VJC
management team will continue to implement the adopted growth and
repositioning strategy in the months ahead.

Outlook 2014
AEVIS expects to realise a pro forma turnover of approximately CHF 600
million in 2014 with the current perimeter (all entities consolidated over
a 12 month period, including Victoria-Jungfrau Collection AG). Furthermore,
the Group plans to continue investing in complementary activities
supporting its overall strategy, such as outpatient medical centres,
medical residences or life sciences. AEVIS focuses on improving 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%, based on the optimisation of its
existing facilities and the diversification of its activities. In addition,
AEVIS plans to further reinforce its distribution policy to shareholders in
2014.

Detailed reporting
AEVIS Holding SA's half-year report 2014 can be downloaded via this link:

http://www.aevis.com/aevis/pdf/AEVIS_HY_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.


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