Slide 1: Presentation H1 2012 Results
Presentation H1 2012 Results 28 September 2012
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: Company highlights
Company highlights AEVIS Holding (AEVIS) is the new company name of Genolier Swiss Medical Network (AGM 6 June 2012) AEVIS invests in the healthcare sector, in life sciences and in services to people AEVIS integrated Swiss Healthcare Properties AG on 2 July 2012 In July 2012, AEVIS issued a 4 ¼ % CH
Slide 4: The Swiss healthcare market
The Swiss healthcare market • Switzerland has the second highest hospital bed coverage in the world Large and growing • Swiss healthcare spending > CHF 60bn or approx. 11% of total Swiss GDP market • Constant market growth of 3.5% to 4.0% p.a. since 1996 • Demographic evolution increases orthopaedic
Slide 5: Group structure
Group structure AEVIS Holding SA Investments in healthcare sector, life sciences and services to people Genolier Swiss Medical Swiss Healthcare Other Activities Network SA Properties AG Clinic operations Healthcare real estate Related sectors • 2nd largest group of private • 18 healthcare properties
Slide 6: Corporate governance – AEVIS Holding SA
Corporate governance – AEVIS Holding SA Board of directors Dr. Christian Wenger, Chairman The board of directors of AEVIS combines Raymond Loretan, Vice-Chairman financial, legal and political skills as well as Antoine Hubert, Delegate of the Board in-depth knowledge of the Swiss Michel Reybier Anto
Slide 7: Corporate governance – Genolier Swiss Medical Network SA
Corporate governance – Genolier Swiss Medical Network SA Board of directors Raymond Loretan, Chairman The board of directors of GSMN contributes Dr. Philippe Glasson, Vice-Chairman additional healthcare and medical Antoine Hubert, Delegate of the Board expertise, a link to the group’s doctors as Mic
Slide 8: Corporate governance – Swiss Healthcare Properties AG
Corporate governance – Swiss Healthcare Properties AG Board of directors Antoine Hubert, Chairman The board of directors of SHP is well Michel Reybier, Vice-Chairman aligned within the corporate governance of Gilles Frachon AEVIS and shares in-depth knowledge of Olivier Bourgeois the portfolio of he
Slide 9: History – the creation of AEVIS
Cross-participation 20% share exchange History – the creation of AEVIS GSMN Zurich-Pyramide Acquisition of Ambulance Services Geneva GSMN is renamed to AEVIS / SHP is integrated in AEVIS Acquisition of remaining 51% and real-estate of Lindberg Acquisition of Clinique Spontini Acquisition of Privatkl
Slide 10: GSMN network overview
GSMN network overview Canton Clinics owned by GSMN Turnover Available Admitting Employees Ownership HY 2012 beds physicians Real Estate Vaud Clinique de Genolier 37.1m 115 150 350 SHP Vaud Clinique de Montchoisi 10.8m 21 100 75 SHP Vaud Clinique Valmont 4.6m 57 4 95 SHP Fribourg Clinique Générale 18
Slide 11: Clinic operations – national coverage and regional presence
Clinic operations – national coverage and regional presence Clinique Générale Privatklinik Obach Klinik Lindberg Fribourg Solothurn Winterthur Clinique de Genolier Privatklinik Bethanien Genolier Zurich Pyramide am See (20%) Zurich Centre médical des Clinique de Montchoisi Clinique Valmont Clinica A
Slide 12: Healthcare real estate – long-term commitment to clinic operation's growth
Healthcare real estate – long-term commitment to clinic operation’s growth Bâtiment CRG Clinique Générale Privatklinik Obach Privatklinik Lindberg Genolier Fribourg Solothurn properties, Winterthur Clinique de Genolier Genolier Les Hauts de Genolier Genolier Clinique de Montchoisi Clinique Valmont C
Slide 13: Strategy – Buy, Invest, Reap on a stable ground
Strategy – “Buy, Invest, Reap” on a stable ground Market analysis & In depth Investments & Marketing of Ongoing take-over clinic analysis renovation „new“ clinic optimisation Genolier 1 2 3 4 5 Pyramide Bethanien Montchoisi Obach Générale Clinic Value development CMEV operations Reaping the Valmont
Slide 14: Healthcare real estate development
Healthcare real estate development 2006-2007 Clinique Générale: complete refurbishment 2007 Clinique Valmont: development of parking and terrace 2009 Les Hauts de Genolier: construction of building 2010 Les Hauts de Genolier: development of parking 2010-2011 Clinique de Montchoisi: new radiology and
Slide 15: Selected AEVIS clinics and healthcare real estate: Clinique de Genolier
Selected AEVIS clinics and healthcare real estate Clinique de Genolier Genolier Canton Vaud PRESENTATION RESULTS HY-12 I 15
Slide 16: Clinique de Genolier – clinic operations
Clinique de Genolier – clinic operations 154 admitting physicians 290 employees 115 beds 5 operating theatres 2’561 surgical interventions Key specialties • Oncology • General and digestive surgery • Orthopaedics • Gynaecology and Senology (IORT) • Internal medicine • Preventive medicine • Plastic s
Slide 17: Clinique de Genolier – healthcare real estate
Clinique de Genolier – healthcare real estate Total site area 57’869m2 • View over Lake Geneva and the Alps • Room for further development Clinique de Genolier • Multi speciality hospital building • Floor area (net): 18’724m2 • Floor levels: 7 CRG Building • Center with medical practices and offices
Slide 18: Selected AEVIS clinics and healthcare real estate: Privatklinik Bethanien
Selected AEVIS clinics and healthcare real estate Privatklinik Bethanien Zurich Canton Zurich PRESENTATION RESULTS HY-12 I 18
Slide 19: Privatklinik Bethanien – clinic operations (no real estate)
Privatklinik Bethanien – clinic operations (no real estate) 204 admitting physicians 250 employees 96 beds 5 operating theatres 3’925 surgical interventions 408 deliveries Key specialties • Orthopaedics • Gynaecology and obstetrics • Surgery and internal medicine • Visceral surgery • Maxillofacial s
Slide 20: Selected AEVIS clinics and healthcare real estate: Clinica Sant'Anna
Selected AEVIS clinics and healthcare real estate Clinica Sant’Anna Lugano Canton Ticino PRESENTATION RESULTS HY-12 I 20
Slide 21: Clinica Sant'Anna – clinic operations
Clinica Sant’Anna – clinic operations 90 admitting physicians 200 employees 87 beds 4 operating theatres 4’000 surgical interventions per year 900 deliveries Key specialties • Female medicine and senology • Gynaecology and obstetrics • Neonatology • Oncology • Internal medicine • Specialised surgery
Slide 22: Clinica Sant'Anna – healthcare real estate
Clinica Sant’Anna – healthcare real estate Total site area 22’251m2 • Hillside development • View over Lake Lugano Clinica Sant’Anna • Multi speciality hospital building • Floor area (net): 14’203m2 • Floor levels: 8 3 further healthcare real estate on site • Medical related use • Floor area (net):
Slide 23: Les Hauts de Genolier – assisted living
Les Hauts de Genolier – assisted living Assisted living complex next to the Clinic Genolier 63 luxurious apartments offering modern infrastructure Mulit-disciplined care team Tailor-made nursing services Short-term or long-term stay PRESENTATION RESULTS HY-12 I 23
Slide 24: Nescens – Added value brand to the clinics
Nescens – Added value brand to the clinics Fruit of a partnership with CSPV-Centre Suisse de Prévention du Vieillissement SA and La Réserve Leading global anti-aging specialist – “live better and longer” First brand to bring a comprehensive and evidence-based answer to prolong healthy life Nescens i
Slide 25: Nescens – three areas of development
Nescens – three areas of development Nescens preventive medical check-up centres at Clinique de Genolier and Clinica Sant’Anna Nescens better-aging medspa programmes at Hôtel la Réserve Geneva Anti-age cosmetics • Nescens is a line of highly efficient anti-aging cosmeceuticals • Entirely formulated
Slide 26: Clinique Nescens Paris Spontini
Clinique Nescens Paris Spontini First clinic of the Group entirely dedicated to plastic surgery and medicine Located in the 16th district of Paris, is exclusively dedicated to plastic Managed under the better-aging brand Nescens To be positioned as a European benchmark for plastic and cosmetic surge
Slide 27: Clinic related activities – ambulance services
Clinic related activites – ambulance services 80% interest in AS Ambulance Services SA, Geneva 80 employees Turnover of more than CHF 8 million Founder and COO Olivier Gonin owns a 13% stake Acquisitions in line with AEVIS strategy of developing several activities in the healthcare sector Further ac
Slide 28: Financial Highlights HY 2012
Financial Highlights HY 2012 Growth strategy successfully continued with the integration 4 new clinics Strong revenue growth of 61% to CHF 161.8 million One off costs related to growth acquisition (around CHF 1.5 million) EBITDA surges by 39% to CHF 15.9 million EBITDA level temporarily affected by
Slide 29: Half-year results 2012: Income Statement
Half-year results 2012: Income Statement In CHF '000 1HY 2012 1HY 2011 The revenue increase in 1HY 2012 is AEVIS AEVIS mainly due to the newly acquired clinics in Lugano and Solothurn Key figures P&L Total revenue 161'803 100'676 Non-recurring transaction costs and growth 161% n/a uncertainty in the
Slide 30: Half-year results: Balance Sheet
Half-year results: Balance Sheet In CHF '000 30 June 2012 30 June 2011 Main growth drivers were clinic AEVIS AEVIS acquisitions in Lugano, Solothurn and Winterthur Key figures balance sheet Assets The growth effect was further Total non-current assets 200'017 100'855 accentuated as AEVIS acquired bo
Slide 31: Pro forma results after SHP integration
Pro forma results after SHP integration In CHF '000 1HY 2012 1HY 2012 1HY 2011 Pro forma 1HY 2012 pro forma AEVIS AEVIS incl. SHP includes the effect of the integration of SHP as per Key figures P&L Total revenue 162'130 161'803 100'676 30 June 2012 growth n/a 161% n/a Reduction of rent EBITDA 20'64
Slide 32: Further development potential
Further development potential • New long-term outsourcing contracts have been recently closed with Synlab and Dosim (lab and cleaning) • Further process optimisations are continuously being explored such as GSMN regarding uniform laundry services for the entire group • Size effects such as increased
Slide 33: Ongoing restructuring of Privatklinik Lindberg
Ongoing restructuring of Privatklinik Lindberg • AEVIS has been a 49%-shareholder since 2011 Background • As restructuring was not possible without a majority position the remaining 51% were acquired in June 2012 • Make all doctors attending doctors (no employed doctors anymore) • Reduction of servi
Slide 34: New corporate website
New corporate website PRESENTATION RESULTS HY-12 I 34
Slide 35: AEVIS – outlook 2012
AEVIS – outlook 2012 2012 forecast (i.e. same scope as pro forma on previous page) • Total revenue: nearly CHF 350m • Proforma EBITDA: around CHF 50m Further integration and consolidation of current investment portfolio of AEVIS Genolier Swiss Medical Network SA • Continuation of growth strategy, or
Slide 36: Investment highlights
Investment highlights • High attractiveness of the growing and recession-resilient healthcare sector Attractive − Demographic trends (more people get older) sector focus − Increasing economic wealth (people have more money) − Increasing willingness to pay for healthcare services (people pay more) •
Slide 37: AEVIS Holding – Investing for a better life
AAs HOLDING Investing for a better life