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AEVIS VICTORIA SA

Investor Presentation • Sep 16, 2016

808_ip_2016-09-16_92f891df-b861-41a0-90c9-da78e25dbfde.pdf

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Investorpresentation

16September 2016

Disclaimer

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 strategic plans and objectives. Because these forward‐looking statements are subject to risks and uncertainties, actual future results may differ materially from those expressed in or implied by the statements. Many of these risks and uncertainties relate to factors which are beyond AEVIS VICTORIA SA's ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behavior of other market participants, the actions of governmental regulators and other risk factors detailed in AEVIS VICTORIA SA's past and future filings and reports and in past and future filings, press releases, reports and other information posted on AEVIS VICTORIA SA's group companies websites. Readers are cautioned not to put undue reliance on forward‐looking statements, which speak only of the date of this communication. AEVIS VICTORIA SA disclaims any intention or obligation to update and revise any forward‐looking statements, whether as a result of new information, future events or otherwise. This presentation does not constitute an offer to sell or a solicitation to purchase any securities of AEVIS VICTORIASA.

  • 1.Group overview
  • 2.Financial overview
  • 3.Acquisition offer Générale Beaulieu
  • 4.Key reasons to invest in AEVIS VICTORIA
  • 5.Q&A

AEVIS VICTORIA– group structure

AEVIS VICTORIASA

  • • AEVIS VICTORIA is an investment company investing in services to people, healthcare, hospitality, life sciences and lifestyle
  • • AEVIS VICTORIA is listed on SIX Swiss Exchange since 1999 and has a market capitalisation of CHF 856.0 million(as of 15.09.2016)
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Incubator

• AEVIS VICTORIA invests in various other activities along the value chain of its main segments. Activities range from early‐stage (such as AEVIS VICTORIA's participation in the field of stem cells) to companies under restructuring (such as AEVIS VICTORIA′s ambulance services)

Experienced leadership team

  • • The Board of Directors of AEVIS VICTORIA combines financial, legal and political skills as well as in‐depth knowledge of theSwiss healthcare sector
  • • The various subsidiaries of AEVIS VICTORIA are equipped with strong and independent management teams exhibiting long track records of experience in AEVIS VICTORIA
  • •Management members have on average 19 years of industry experience

  • • The Boardof Directors and management of AEVIS VICTORIA cover the necessary skill set to address arising challenges

  • 1.Group overview

  • 2.Financial overview
  • 3.Acquisition offer Générale Beaulieu
  • 4.Key reasons to invest in AEVIS VICTORIA
  • 5.Q&A

AEVIS VICTORIA– key financial highlights

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  • • Progress in the successful repositioning of hospitals has strongly improved revenue, utilization of resources and profitability
  • • Portfolio optimizations in the hospitality segment have reduced revenue but increasedprofitability
  • • Adjusted for seasonality and other exceptional items AEVIS VICTORIA's half‐year performance is in line with budget and shows a 33% increase inEBITDAR

HY 2015 Proforma figures exclude Hotel Palace Luzern operations

Hospital segment – key financial highlights

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  • • Strong revenue increase which was mainly based on an overall increase of the number of patients treated in the network's hospitals while lower DRG and TARMED rates for the domestic activity remained a challenge • Medical tourism recovered and partially offset last year's decline • Due to the higher utilization of resources and the successful completion of restructuring of
  • hospitals the segment's profitability has increased significantly

Hospitality segment – key financial highlights

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• Reduction in revenue due to the new management contract structure for the Hotel Palace Luzern which is no longer consolidated in VJC's accounts • The hotel continues to be operated by VJC under the VJC brand paying an annual management fee • In HY 2015, a revenue of CHF 6.5m was generated by the hotel explaining the year‐on‐year decrease in revenue • Due to loss making character of Hotel Palace Luzern the segment's profitability has increased substantially with the deconsolidation• The cooperation with Michel Reybier Hospitality is expected to lead tofurther efficiency gains in

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hotels

RealEstate segment – key financial highlights

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  • • The substantial revenue increase in the real estate segment is due to various reasons:
  • The restructuring of VJC and subsequent inclusion of hotel properties in the real estate segment
  • In 2015, some rent reductions were granted to tenants due to construction work. This is not the case inHY 2016
  • Several acquisitions executed in the secondhalf of 2015

AEVIS VICTORIA– consolidated balance sheet

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  • • No material change in AEVIS VICTORIA's balance sheet since year‐end 2015
  • • Issuance of a 5‐year 2.5% CHF 150m straight bond in May 2016 for the refinancing of the 4.25% CHF 80m bond maturing in August 2016 and further refinancing of bankdebt
  • • Nogoodwill on balance sheet
  • • AEVIS VICTORIA's financial debt is composed
  • of straight bonds on top‐holding level
  • of mortgages on the group's real estate(up to 50% LTV) and
  • of working capital credits (1.0x to 3.5x EBITDA) and leasing in thehospitals and hotels

Outlook – mid termfinancial guidance

AEVIS VICTORIA confirms its mid‐termfinancial guidance

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  • 1.Group overview
  • 2.Financial overview
  • 3.Acquisition offer Générale Beaulieu
  • 4.Key reasons to invest in AEVIS VICTORIA
  • 5.Q&A

Targeted transaction with Clinique Générale Beaulieu

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Overview of GénéraleBeaulieu

*Adjusted for exceptional items in 2015

  • • Générale Beaulieu, founded in 1899, is a multi‐disciplinary leading private hospital in Geneva on the hospital list of the Cantonof Geneva
  • • Générale Beaulieu would be one of the largest hospitals of AEVIS VICTORIA in terms of revenues and has a profitability aboveAEVIS VICTORIA's average
  • • Générale Beaulieu has a strong balance sheet in terms of equity ratio and has a net cash position
  • • Revenues are expected to remain rather constant in 2016 whileprofitability is projected to increase
  • • The hospital is specialized in orthopedics, general surgery, urology, gynecology and obstetrics and further comprises specialty centers for radiology, nuclear medicine, physiotherapy and rehabilitation
  • • Key figures:
  • Around 400 employees and 600 admitting physicians
  • Approximately 5'700 annual inpatient admissions
  • 8 operating theatres
  • Around 130 beds
  • • The company owns the hospital building as well as other properties in the immediate surroundings which are mostly rented out as medical practices

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  • 2.Financial overview
  • 3.Acquisition offer Générale Beaulieu
  • 4.Key reasons to invest in AEVIS VICTORIA
  • 5.Q&A

Key reasons to invest in AEVIS VICTORIA

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