VZ Holding AG

Above-average growth for VZ Group - Seite 2

Stable balance sheet and higher dividend
The balance sheet total rose from 5.9 billion to 6.5 billion francs. This is mainly due to the increase in client deposits. Capitalisation remains well above the industry average. With a core capital ratio (CET1 ratio) of 26.2 percent, the group is very solidly capitalised. The Board of Directors is proposing to the Annual General Meeting to raise the dividend from 1.74 to 2.24 francs per share. This will increase the payout ratio from 46 to 48 percent as planned.

Business outlook
«Over the next few years, we will continue to expand our consulting capacity to match the rising demand», says Giulio Vitarelli, Chief Executive Officer. «If the financial markets remain stable, revenue and profit growth in the 2024 financial year should be in line with the long-term average. Due to base effects, we expect growth to be stronger in the first half of the year.»

Expansion of the Board of Directors
VZ Group's Board of Directors will propose the election of two additional members to the Annual General Meeting on 8 April 2024. Nadia Tarolli Schmidt is a partner at the Basel-based commercial law firm VISCHER. She is admitted to the bar, is a federally certified tax expert and specialises in tax, occupational benefit schemes, banking and finance. Henriette Wendt is Axpo Holding’s Chief Operating Officer. She holds a master’s degree in business Strategy from ESSEC Paris and has international experience, particularly in the technology sector. «We are delighted to propose two highly qualified new members for election at the Annual General Meeting who will ideally complement our board on a personal and professional level», says Matthias Reinhart, Chairman of the Board of Directors of VZ Holding AG.

Annual report
The detailed annual report as well as an investor presentation can be downloaded from the investor relations section on VZ Group’s website: vzch.com

Conference call
Media representatives and analysts are invited to discuss VZ Group’s results in one of today’s teleconferences hosted by Giulio Vitarelli (Chairman of the Executive Board) and Rafael Pfaffen (Chief Financial Officer). For details, please get in touch with Adriano Pavone or Petra Märk: