Aevis Victoria Sa · SIX:AEVS
Aevis Victoria Sa — FY2024 Earnings Presentation
26 slides from Aevis Victoria Sa's earnings presentation, Apr 3, 2025
Slide 1: Investing for a better life
ANNUAL RESULTS 2024 Investing for a better life 3 April 2025 AEVIS VICTORIA SA
Slide 2: Forward-looking statements
Forward-looking statements 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 st
Slide 3: Overview
Overview Antoine Hubert Delegate of the board 03.04.2025 3
Slide 4: AEVIS VICTORIA: An investment company focused on services to people
AEVIS VICTORIA An investment company focused on services to people HOSPITALITY & LIFESTYLE HEALTHCARE * * * * * INFRASTRUCTURE * * Not consolidated 03.04.2025 4
Slide 5: Most important highlights in FY 2024 & Q1 2025
Most important highlights in FY 2024 & Q1 2025 Strong performance, deleveraging & successful investment activities lead to significant value creation overall MRH Switzerland AG VALUE CREATION Genolier Innovation Hub (2024) Strong business activity in Strong business activity Strong portfolio Strong
Slide 6: Deal activity highlights 4Q 2018-1Q 2025
Deal activity highlights 4Q 2018-1Q 2025 Strong track record of strategic acquisitions & successful exits 2018 2019 2020 2021 2022 2023 2024 2025 Q1 Q2 Q3 Q4 Q1 Completion of GIH Acquisition of real- Deconsolidation after sale of ~50% to MPT and Baloise estate in Zofingen Share capital opened with e
Slide 7: FY2024 performance
FY2024 performance Michel Keusch CFO/CIO 03.04.2025 7
Slide 8: AEVIS statutory numbers
FY 2024 AEVIS statutory numbers Strong group performance thanks to successful investment activities Statutory income statement Statutory net profit strongly increased to CHF 26.5m, compared to a statutory loss of CHF 8.8m in 2023 CHF 26.5m net profit Strong improvement in financial performance thank
Slide 9: Healthcare segment
FY 2024 Healthcare segment Resilient operating margins despite the negative impact from the strategic investments in primary care Net revenues (CHFm) EBITDAR (CHFm) EBITDA (CHFm) and margin (%) and margin (%) +5.6% +6.7% +11.9% 5.7% 16.6% 16.5% 5.4% 648.9 684.9 106.8 113.9 34.9 39.0 2023 2024 2023 2
Slide 10: Healthcare segment: Hospitals and ambulatory services
FY 2024 Healthcare segment: Hospitals and ambulatory services Underlying profitability improvement diluted by the investments in primary care EBITDAR (CHFm) EBITDA (CHFm) Net revenues (CHFm) and margin (%) and margin (%) +5.1% +17.2% +2.2% 19.4% 8.9% 18.2% 7.1% Hospitals 601.9 615.4 109.5 119.6 42.9
Slide 11: Hospitality segment
FY 2024 Hospitality segment Profitability improvement reflecting strong RevPar growth MRH Switzerland AG Net revenues (CHFm) EBITDAR (CHFm) EBITDA (CHFm) and margin (%) and margin (%) +10.5% +25.8% +45.7% 23.1% 7.2% 20.3% 5.5% 170.5 188.4 34.6 43.5 9.3 13.6 2023 2024 2023 2024 2023 2024 Organic: 10.
Slide 12: Real Estate segment
FY 2024 Real Estate segment Higher rental income and an enlarged portfolio Market value (CHFm) EBITDA (CHFm) LTV (%) and margin (%) +2.7% +29.6% 88.8% 87.4% 857.8 881.2 21.2 27.4 46.9% 46.5% 2023 2024 2023 2024 2023 2024 03.04.2025 12
Slide 13: Infracore (30% stake)
FY 2024 Infracore (30% stake) Solid performance and strong financial foundations Market value (CHFm) EBITDA (CHFm) LTV (%) and margin (%) +2.2% +4.7% 92.9% 90.4% 1,301.3 1,329.3 56.8 59.5 48.0% 43.3% 2023 2024 2023 2024 2023 2024 03.04.2025 13
Slide 14: Others segment
FY 2024 Others segment 2024 starting a new era for Nescens Net revenues (CHFm) EBITDAR (CHFm) EBITDA (CHFm) and margin (%) and margin (%) -1.5% 10.3 10.2 2023 2024 2023 2024 2023 2024 (2.3) (7.9) (4.6) (10.7) 03.04.2025 14
Slide 15: Sum of the parts valuation of AEVIS
Sum of the parts valuation of AEVIS Current share price does not reflect AEVIS' value potential AEVIS SOTPsum of value equity the parts valuation analysis as of as of AEVIS 02.04.2025 of 31.12.2023 In CHFbn Per share (CHF) CHF CHF >23 12.10 Miscellaneous 0.1 (0.2) Infracore 0.2 Overhead (0.2) • The
Slide 16: Conservative valuation of real estate assets
Conservative valuation of real estate assets Very reasonable valuations per m2 Hotel and healthcare real estate portfolio CHF 891m CHF 1’287m Portfolio of leading landmark hotels and state-of-the- art hospitals Market value as of 31.12.2024 131’020m2 206’267m2 Rental area as of 31.12.2024 Prime hote
Slide 17: Outlook
Outlook Fabrice Zumbrunnen CEO 03.04.2025 17
Slide 18: Healthcare segment: Good start to 2025
Healthcare segment Good start to 2025 driven by organic growth and acquisitions Swiss Medical Network Healthcare • Good start to 2025 (+24.7% in the first two months) driven by organic growth (ca 4%) and acquisitions. • Acquisition effects relate to Spital Zofingen and CentroMedico, which were conso
Slide 19: Healthcare segment strategy: A proven turnaround playbook
Value creation Healthcare segment strategy A proven turnaround playbook In-depth Investments & Marketing of Continuous Turnaround and ramp-up measures analysis Renovation new clinics optimisation Valmont Stable growth Ars Medica Ramp-up Ste Anne Turnaround cases Clinic repositioning Genolier Valère
Slide 20: Hospitality & Lifestyle segment: Luxury repositioning
Hospitality & Lifesyle segment Luxury repositioning – positive momentum MRH Switzerland Hospitality & Lifestyle • Solid start of 2025, with a 4% like-for-like increase in revenue at the end of February, with growth particularly driven by establishments in Zermatt and Zürich • Premiumization strategy
Slide 21: Others segment: Genolier Innovation Hub
Others segment: Genolier Innovation Hub A cutting-edge building dedicated to the interaction of research and healthcare services MILESTONES Fostering innovation at the Genolier Innovation Hub 2019 • Start of project KEY DATA • 25’000m2 total surface area 2022 • Start of construction • 6’000m2 green
Slide 22: Others segment: Nescens
Value creation Others segment: Nescens 2024 marked by a reorganization 2 Clinique Nescens • Focus on preventive medicine: health optimization and longevity • Pioneer in cellular aging biology: Strong credentials thanks to world-wide renowned Prof. Dr. med Jacques Proust • Exclusive and personalized
Slide 23: Conclusion
Conclusion Fabrice Zumbrunnen CEO 03.04.2025 23
Slide 24: Conclusion: Continued focus on value creation, deleveraging and growth
Conclusion Conclusion Continued focus on value creation, deleveraging and growth opportunities • Focus on deleveraging and further unlocking value potential in all segments Strategy • Continue investing in services to people that bring real added value to its customers, with a focus on healthcare, h
Slide 25: Strong track record of value creation
Strong track record of value creation Equity value of AEVIS has increased by a factor of 17x since 2011 AEVIS equity value development 2011-2024 In CHFm ~ 17.0x Sum of the parts NAV 2’021 2,000 Market capitalization 1,800 1,700 1,600 1,477 1,424 1,300 1,222 1,125 1,183 1,038 118140 2011 2019 2020 20
Slide 26: Thank you for your attention.
Thank you for your attention. 03.04.2025 26