AEVIS VICTORIA SA announces 2020 revenues of CHF 733.0 million

AEVIS VICTORIA SA / Key word(s): Sales Result

02-March-2021 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.

Press release

Fribourg, 2 March 2021

AEVIS VICTORIA SA announces 2020 revenues of CHF 733.0 million

The investment company AEVIS VICTORIA SA (AEVIS) generated operating revenues of CHF 716.7 million in 2020, a slight increase (0.7%) compared to 2019 (CHF 711.5 million). Total revenues, including gains on the sale of participations and assets, amounted to CHF 733.0 million (2019: CHF 933.2 million). The year 2019 included the sale of a participation in Infracore SA for CHF 199.4 million. No participations were sold in 2020. Given the extremely difficult environment in the hotel industry, this result demonstrates the ability of AEVIS' various participations to adapt and react.

Despite the sanitary crisis and the ban on elective surgery for several weeks during the spring of 2020, the hospital segment showed good overall resilience and was able to achieve operating revenues of CHF 625.5 million, slightly higher (2.5%) than in 2019 (CHF 622.3 million). All the hospitals of Swiss Medical Network were integrated into the cantonal plans set up in response to the coronavirus pandemic. The situation in the hospitals and clinics is now virtually back to normal, with a return to growth since the third quarter of 2020. The year 2021 will see a substantial increase in activity linked to the increased number of recruitments of physicians and the growing attractiveness of the group's establishments for employees and patients.

The hospitality segment expanded strongly in 2020 with the integration of the Seiler Hotels in Zermatt and the InterContinental in Davos as well as the reopening of La Réserve Eden au Lac in Zurich. This expansion enabled to generate an operating revenue growth of 4.7% to CHF 72.7 million (2019: CHF 69.4 million). Organically, however, the decline was 41.9%, which shows that the hotel industry is suffering enormously from the restrictions and sanitary measures implemented by the Confederation and the cantons throughout 2020. The lack of foreign guests, the almost complete absence of MICE business (meetings, incentives, congresses, exhibitions) and the closure of restaurants have made it impossible to achieve the objectives set. The group's hotels have adapted their offering to the situation, and 2021 should see a gradual normalization of activity with the forthcoming reopening of restaurants. The group expects a return to growth from the end of 2021 and throughout 2022.

AEVIS will publish its Annual Results 2020 on 26 March 2021.

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 nine 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.