AEVIS VICTORIA SA (AEVS.SW) – Publication of the 2023 revenue - Seite 2

Swiss Medical Network, an operating subsidiary dedicated to healthcare, generated revenues of CHF 768.7 million, taking into account the deconsolidation of Réseau de l'Arc. On a like-for-like basis, revenues remained stable, with organic growth of 0.3%. The overall increase in costs, especially energy, personnel expenses and materials, heavily impacts margins, as the fixed medical and hospital tariffs do not allow for the inflation to be passed onto revenues. This problem affects the entire Swiss healthcare sector, both public and private. Swiss Medical Network has initiated various cost-optimization measures in order to regain the margins achieved in 2022 by 2024.

Several exceptional factors have also affected Swiss Medical Network's profitability, but are essential investments for the future. The development of the integrated care and the Viva project require the creation of structures (primary care) and a dedicated organization, which temporarily affect overall profitability and will only bear fruit in a few years with the development of new integrated care regions. Another exceptional factor is various construction projects, particularly at the Clinique de Genolier (Genolier Innovation Hub) and Privatklinik Bethanien (integration of Privatklinik Pyramide) campuses, which also weighed on the activity and profitability of these two entities in 2023.

Visana Beteiligungen’s investment in Swiss Medical Network, which allowed the realization of the Viva-Réseau de l'Arc integrated care model designed to transform the Swiss healthcare system, confirmed the value of AEVIS' participation at over CHF 1.4 billion.

Investments in Well Gesundheit AG and AD Swiss Net AG, two minority holdings in digital health platforms, are showing promising developments, with Well becoming the most widely used health app in Switzerland, with over 300’000 users. The digital solutions offered by Well and AD Swiss Net are used in setting up integrated healthcare regions such as Réseau de l'Arc.

Infracore SA, a minority holding of AEVIS dedicated to healthcare infrastructures, achieved stable revenues (excluding revaluation changes) of CHF 59.6 million (2022: CHF 60.0 million). Due to new constructions and increased rental space, the total value of the real estate portfolio rose to CHF 1.29 billion (2022: CHF 1.25 billion), despite negative value adjustments of CHF 16.8 million on existing properties. Infracore SA has 206’267 sqm of rental space across 19 sites, with an average valuation per sqm of CHF 6’238 (2022: CHF 6’368).