AEVIS VICTORIA SA

EQS-Adhoc: AEVIS VICTORIA: Revenue growth of 8.2% to CHF 291.0 million in first Half-year 2015



EQS Group-Ad-hoc: AEVIS VICTORIA SA / Key word(s): Half Year Results
AEVIS VICTORIA: Revenue growth of 8.2% to CHF 291.0 million in first Half-year
2015

30.09.2015 / 07:10
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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Press release

Fribourg, 30 September 2015

AEVIS VICTORIA: Revenue growth of 8.2% to CHF 291.0 million in first Half-year
2015

AEVIS VICTORIA SA (AEVIS) today published its Half-Year Report 2015. The company
further sharpened its profile and increased its level of specialisation in the
reporting period. Most importantly, AEVIS successfully completed the build-up of
its third pillar of activities with the 100% integration of the luxury hotel
business and the integration of Victoria in its name.

AEVIS realised total revenues of CHF 291.0 million, up by 8.2% from the previous
year. EBITDA declined slightly to CHF 33.0 million (2014: CHF 36.1 million) or
11.3% (2014: 13.4%) of revenues, amongst others due to lower TARMED and DRG
tariffs for GSMN, fewer foreign patients and the negative impact of the
consolidation of the hotel subsidiary as of Q1 2015, the three first months of
the year traditionally being the least performing in the hotel sector (in 2014,
the hotel business was consolidated as of the second quarter). Financial
expenses of more than CHF 11 million following substantial investments,
acquisitions and the issuance of three bonds in the recent past further impacted
results. As a consequence, a net profit for the period under review of CHF 0.07
million was achieved compared to CHF 2.80 million a year ago.

Consolidation of Genolier Swiss Medical Network advanced
Genolier Swiss Medical Network (GSMN) continued its development with the
integration of Clinique Montbrillant in La Chaux-de-Fonds. Surging business with
Swiss patients resulted in total revenues of the 15 clinics and associate
activities of CHF 217.0 million in the reporting period, 2.3% above the previous
year. Anticipated TARMED (the ambulatory tariff structure) price reductions of
8.5% for 2015 had a negative impact on the turnover in the amount of CHF 1.7
million. In addition, DRG system changes together with reduced Baserates in the
combined amount of CHF 0.8 million further impacted the revenues. These
decreases have a direct impact on the net result. The number of foreign patients
decreased, mainly due to sanctions against Russia, the decrease of oil prices
and intensified competition in the field of medical tourism, and led to a loss
of sales in the amount of CHF 7 million. To counteract these developments, GSMN
initiated additional measures to increase its activity and efficiency.

Swiss Healthcare Properties grows rental income
Swiss Healthcare Properties (SHP) acquired several buildings and projects in the
first half-year 2015. SHP generated a rental income of CHF 18.5 million up by
16.7% compared to the same period last year. The real estate portfolio of SHP
consisted of 29 properties, all fully let (no vacancies), with a total rentable
surface of 126'195 m2. The portfolio reached a market value of CHF 740.7 million
at the end of June 2015. The hotel buildings will be integrated in the real
estate pillar during the second half year of 2015, thus increasing the portfolio
value to over CHF 900 million.

Victoria-Jungfrau Collection attracts more guests
Victoria Jungfrau Collection (VJC) achieved a turnover of CHF 32.9 million in
the first half-year 2015, down 3.5% from the previous year. The number of guests
increased by 2% to 75'415, mainly due to a positive development in business
groups and leisure groups, while the number of overnight stays dropped by 1.2%
to 45'265 and the average room rate declined by 2.8% to CHF 345. The first
quarter is usually the most challenging period for hotels in Switzerland and
2015 was no exception. Since April, however, results have been constantly
improving and the summer months were clearly above average. As a consequence,
results at the end of July 2015 were already above the previous year,
highlighted by a turnover of CHF 40.5 million, a total of 93'794 guests and an
average room rate of CHF 359.

Mid-term outlook
In the current business year 2015, AEVIS expects to realise a turnover of
approximately CHF 600 million, based on an unchanged portfolio consolidated over
a 12-month period. Despite the seasonal impacts on AEVIS' profitability level
during the first half-year 2015, AEVIS continues to target an EBITDA margin of
more than 20% in the mid-term based on optimised processes and higher
utilisation of its infrastructure. This will imply a free cash flow margin of
around 10% on which a payout ratio of 30% will be applied.

Detailed reporting
AEVIS VICTORIA SA's Half-year Report 2015 can be downloaded via this link:

http://www.aevis.com/aevis/pdf/AEVIS_HY_2015.pdf

For further information:
AEVIS VICTORIA SA 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 VICTORIA SA - Investing for a better life
AEVIS VICTORIA 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
healthcare real estate and NESCENS SA, a brand dedicated to better aging. AEVIS
is also active in the ambulance business with Ambulances Services Odier SA.
AEVIS is listed on the Swiss Reporting Standard of the SIX Swiss Exchange
(AEVS.SW).
www.aevis.com

End of ad hoc announcement

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398599  30.09.2015
 



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