Aevis Victoria Sa · SIX:AEVS
Aevis Victoria Sa — Non-Deal Roadshow (September 2016)
20 slides from Aevis Victoria Sa's roadshow presentation, Sep 16, 2016
Slide 1: Investor presentation
Investor presentation 16 September 2016
Slide 2: Disclaimer
Disclaimer This communication contains statements that constitute “forward‐looking statements”. In this communication, such forward‐looking statements include, without limitation, statements relating to our financial condition, results of operations and business and certain of our strategic plans an
Slide 3: Agenda
Agenda 1. Group overview 2. Financial overview 3. Acquisition offer Générale Beaulieu 4. Key reasons to invest in AEVIS VICTORIA 5. Q&A INVESTOR PRESENTATION I 3
Slide 4: AEVIS VICTORIA – group structure
AEVIS VICTORIA – group structure AEVIS VICTORIA SA • AEVIS VICTORIA is an investment company investing in services to people, healthcare, hospitality, life sciences and lifestyle • AEVIS VICTORIA is listed on SIX Swiss Exchange since 1999 and has a market capitalisation of CHF 856.0 million (as of 1
Slide 5: Experienced leadership team
Experienced leadership team (years in (years in industry) industry) • AEVIS VICTORIA Management: Hospital • CEO: Beat Röthlisberger 15 Delegate: Antoine Hubert 20 Segment • CFO: Daniel Jandric 2 CFO: Gilles Frachon 40 AEVIS VICTORIA • Board of Directors: Hospitality • CEO: Beat Sigg 36 Segment •
Slide 6: Agenda
Agenda 1. Group overview 2. Financial overview 3. Acquisition offer Générale Beaulieu 4. Key reasons to invest in AEVIS VICTORIA 5. Q&A INVESTOR PRESENTATION I 6
Slide 7: AEVIS VICTORIA – key financial highlights
AEVIS VICTORIA – key financial highlights Key figures P&L AEVIS VICTORIA HY 2015 HY 2015 HY 2016 HY 2016 • Progress in the successful (CHF million) Restated Pro forma Normalized repositioning of hospitals has strongly improved revenue, Gross revenue 289.9 283.4 293.5 297.3 utilization of resources a
Slide 8: Hospital segment – key financial highlights
Hospital segment – key financial highlights P&L hospital segment HY 2015 HY 2016 Change • Strong revenue increase which was (CHF million) Restated mainly based on an overall increase of the number of patients Net revenue 213.7 222.2 8.5 treated in the network’s hospitals Net revenue growth n.a. 4.0%
Slide 9: Hospitality segment – key financial highlights
Hospitality segment – key financial highlights P&L hospitality segment HY 2015 HY 2016 Change • Reduction in revenue due to the (CHF million) Restated new management contract structure for the Hotel Palace Net revenue 32.6 26.7 (5.9) Luzern which is no longer Net revenue growth n.a. ‐18.2% consolida
Slide 10: Real Estate segment – key financial highlights
Real Estate segment – key financial highlights P&L real estate segment HY 2015 HY 2016 Change • The substantial revenue increase (CHF million) Restated in the real estate segment is due to various reasons: Net revenue 18.6 25.6 7.0 The restructuring of VJC and Net revenue growth n.a. 37.4% subsequ
Slide 11: AEVIS VICTORIA – consolidated balance sheet
AEVIS VICTORIA – consolidated balance sheet Key figures BS AEVIS VICTORIA FY 2015 HY 2016 • No material change in AEVIS (CHF million) Restated VICTORIA’s balance sheet since year‐end 2015 Total current assets 216.9 208.6 • Issuance of a 5‐year 2.5% CHF 150m straight bond in May 2016 Fixed assets 1'1
Slide 12: Outlook – mid term financial guidance
Outlook – mid term financial guidance AEVIS VICTORIA confirms its mid‐term financial guidance Financial guidance Organic revenue growth 4% to 5% p.a. Mid‐term EBITDA margin target >20% Maintenance CAPEX 4% to 5% of net revenue Mid‐term leverage ratio 50% to 55% INVESTOR PRESENTATION I 12
Slide 13: Agenda
Agenda 1. Group overview 2. Financial overview 3. Acquisition offer Générale Beaulieu 4. Key reasons to invest in AEVIS VICTORIA 5. Q&A INVESTOR PRESENTATION I 13
Slide 14: Targeted transaction with Clinique Générale Beaulieu
Targeted transaction with Clinique Générale Beaulieu • On 13 September 2016, Générale Beaulieu Holding SA ("GBH") and Swiss Medical Network have signed a transaction agreement regarding the takeover offer for 100% of the shares of GBH. Background Simultaneously, AEVIS VICTORIA acquired a 29% partici
Slide 15: Overview of Générale Beaulieu
Overview of Générale Beaulieu • Générale Beaulieu, founded in 1899, is a multi‐disciplinary leading private hospital in Geneva on the hospital list of the Canton of Geneva • Générale Beaulieu would be one of the largest hospitals of AEVIS VICTORIA in terms of revenues and has a profitability above A
Slide 16: Transaction rationale
Transaction rationale • Following the acquisition, Swiss Medical Network is present in almost all large cities in Switzerland, strengthens its position in the Geneva area and has its first listed hospital in Suisse Romandie Rationale for Swiss Medical • Strategic cooperation and realization of syner
Slide 17: Agenda
Agenda 1. Group overview 2. Financial overview 3. Acquisition offer Générale Beaulieu 4. Key reasons to invest in AEVIS VICTORIA 5. Q&A INVESTOR PRESENTATION I 17
Slide 18: Key reasons to invest in AEVIS VICTORIA
Key reasons to invest in AEVIS VICTORIA • High attractiveness of the healthcare sector: Attractive Demographic trends (aging population) sector focus Increasing economic wealth (people have more money) High willingness to pay for healthcare services (high out‐of‐pocket expenses) • Second large
Slide 19: Q&A
Q&A INVESTOR PRESENTATION I 19
Slide 20: AEVIS VICTORIA
Al EVIS VICTORIA