AEVIS VICTORIA SA: Return to revenue growth in the third quarter of 2020

AEVIS VICTORIA SA / Key word(s): 9 Month figures

28-Oct-2020 / 18:06 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
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Press release

Fribourg, 28 October 2020

AEVIS VICTORIA SA: Return to revenue growth in the third quarter of 2020

AEVIS VICTORIA SA (AEVIS) generated a turnover of CHF 509.9 million in the first nine months, 0.8% less than in the same period of the previous year (CHF 513.8 million). Net sales (excluding doctors fees) amounted to CHF 444.3 million, 1.1% less than in 2019 (CHF 449.4 million). The solid growth in the hospital segment at the beginning of the year as well as the expansion of the hospitality segment with the integration of the Seiler Hotels in Zermatt, the InterContinental in Davos and the reopening of La Réserve Eden au Lac in Zurich was suddenly interrupted by the COVID pandemic. The decline in revenue caused by the ban on elective surgery and the closure of all hotels for several weeks has been partially compensated since May and especially since the beginning of the second half of the year, and the Group showed good overall resilience.

Moreover, third quarter revenues increased by 0.8% year-on-year from CHF 162.1 million to CHF 163.3 million. Swiss Medical Network in particular contributed to this good result with a 3.6% increase in turnover from CHF 136.8 million to CHF 141.8 million. In the hospitality segment, revenue in the third quarter fell by 19.2% from CHF 20.7 million to CHF 16.7 million as a result of lower occupancy rates due to a lack of foreign guests and the almost complete absence of MICE business (meetings, incentives, congresses, exhibitions).

Outlook
In summer and early autumn, visibility in the hospital sector had improved. With the recent appearance of the COVID epidemic and the associated potential restrictions, capacity utilization cannot be predicted. The hospitals of the Swiss Medical Network are ready to help and have made themselves available for integration into the cantonal crisis plans. Developments in the hospitality sector remain unpredictable as subject to the more or less strict quarantine measures put in place by the federal government and the cantons. The easing of the quarantine rules and the introduction of rapid tests, communicated today by the federal government, are encouraging signals. AEVIS nevertheless continues to refrain from publishing turnover or margin targets at Group level for the financial year 2020.

For further information:
AEVIS VICTORIA SA Media and Investor Relations: c/o Dynamics Group, Zurich
Philippe R. Blangey, prb@dynamicsgroup.ch, +41 (0) 43 268 32 35 or +41 (0) 79 785 46 32
Séverine Van der Schueren, svanderschueren@aevis.com, +41 (0) 79 635 04 10

AEVIS VICTORIA SA - Investing for a better life
AEVIS VICTORIA SA invests in healthcare, hospitality & lifestyle and infrastructure. AEVIS′s main shareholdings are Swiss Medical Network SA, the only Swiss private network of hospitals present in the country's three main language regions, Victoria-Jungfrau AG, a luxury hotel group managing luxury hotels in Switzerland, Infracore SA (30%, directly and indirectly), a real estate company dedicated to healthcare-related infrastructure, a hospitality real estate division, Medgate (40%), the leading telemedicine provider in Switzerland, and NESCENS SA, a brand dedicated to better aging. AEVIS is listed on the Swiss Reporting Standard of the SIX Swiss Exchange (AEVS.SW). www.aevis.com.