EQS-Adhoc HBM Healthcare Investments Quarterly Report December 2020
EQS Group-Ad-hoc: HBM Healthcare Investments AG / Key word(s): Quarter Results
HBM Healthcare Investments continued its impressive growth in net assets in the third quarter of the 2020/2021 financial year. Thanks to a quarterly profit of CHF 203 million with contributions from all portfolio categories, the result for the first nine months rose to CHF 645 million. The highlights included five IPOs and one sale from the portfolio of private companies. Six new investments were made to compensate for these disposals and more are planned. A total of CHF 95 million was invested in private companies and the portfolio allocation therefore remained stable. HBM Healthcare continued to hedge market risk and increased the hedging of US dollar currency risk. The fundamental outlook for the healthcare sector remains favourable and HBM Healthcare has sufficient liquidity to seize new opportunities.
HBM Healthcare Investments closed the third quarter of the 2020/2021 financial year with a net profit of CHF 203 million. Net asset value (NAV) rose by 11 percent and the share price gained 13 percent. Over the first nine months of the financial year, profit totalled CHF 645 million and NAV grew by 44.5 percent.
All portfolio categories (private companies, public companies and funds) increased in value during the quarter. In the portfolio of private companies, the sale of Westmed in addition to five IPOs - C4 Therapeutics, Everest Medicines, Galecto, Seer and BioAtla - made a substantial contribution to the quarterly profit. Public companies, including those originating from the portfolio of private companies, also saw an overall increase in value. The declining share price of Cathay Biotech was more than made up for by increases in the value of companies such as ALX Oncology, SpringWorks Therapeutics and Y-mAbs Therapeutics.