EQS-Adhoc

AEVIS VICTORIA SA: resilient results despite the pandemic

EQS Group-Ad-hoc: AEVIS VICTORIA SA / Key word(s): Annual Results AEVIS VICTORIA SA: resilient results despite the pandemic 26-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, 26 March 2021

AEVIS VICTORIA SA: resilient results despite the pandemic

Operating revenue surged by 0.7% and EBITDAR margin reached 15.5%

The results of AEVIS VICTORIA (AEVIS) in fiscal year 2020 were marked by the COVID-19 pandemic. AEVIS's various participations confirmed its high ability to adapt and react despite the difficult environment, especially in the hotel industry, and during the spring lockdown also in the hospital segment. A solid operating revenue of CHF 716.7 million resulted, 0.7% above the previous year's (CHF 711.5 million). Total revenues amounted to CHF 733.0 million (2019: CHF 933.2 million). The year 2019 included the sale of the participations in Infracore SA and GENERALE-BEAULIEU IMMOBILIERE SA for CHF 221.4 million, while no participations were sold in 2020. The operating result amounted to CHF 99.3 million, corresponding to an EBITDAR margin of 15.5%. Depreciation of CHF 59.9 million contributed to the net loss of CHF 30.9 million. The capital base and reserves were further strengthened and the operating cash flow of CHF 23.8 million is encouraging. The financial consequences of the ongoing health crisis cannot yet be quantified and the Board of Directors of AEVIS has decided not to propose an ordinary dividend to the shareholders for the year under review.

High-quality investment portfolio
AEVIS VICTORIA made good progress in implementing its strategy in fiscal year 2020. The core holdings were strengthened, and the portfolio as a whole was further focused and optimized. As announced yesterday, Medical Properties Trust, Inc. acquired 10% of the share capital of Swiss Medical Network, at an enterprise valuation of CHF 1.7 billion, confirming the significant value creation achieved since the network's inception in 2002. With this sale, AEVIS will increase its liquidities by around CHF 145 million and this transaction marks the beginning of a process of opening-up the capital of the private hospital network to strategic investors. In the hospitality sector, the portfolio was significantly expanded through the consolidation of the Seiler Hotels and Hotel Schweizerhof in Zermatt as well as the InterContinental in Davos while the real estate segment also grew significantly due to the integration of the properties of the newly acquired hotels and the reopening of La Réserve Eden au Lac in Zurich.