AEVIS VICTORIA: Revenue growth of 8.2% to CHF 291.0 million in first Half-year 2015 Mittwoch, 30. September 2015 - 08:13

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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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