AEVIS VICTORIA SA

Earnings Release • Apr 30, 2013

News Details

Ad-hoc | 30 April 2013 07:20

AEVIS Holding SA: Publication of the Annual Report 2012 – strong increase in revenues and EBITDA

AEVIS Holding SA / Key word(s): Final Results/Final Results

30.04.2013 07:20

Release of an ad hoc announcement pursuant to Art. 53 KR

Consolidation of real estate portfolio for second half-year allows to
propose a first-time distribution of CHF 0.30 per share to shareholders

AEVIS Holding SA today published its Annual Report 2012. Total consolidated
revenues increased by 72% to CHF 344.4 million (CHF 200.8m) and the EBITDA
increased by 67% to CHF 40.0 million (CHF 24.0m). AEVIS realised a net
operating profit (EBIT) of CHF 16.7 million (CHF 8.3m). During the second
half-year, the company realised revenues of CHF 182.6 million and an EBITDA
of 13.5% thanks to operational improvements and real estate. The
consolidation of Swiss Healthcare Properties AG resulted in a clear net
profit increase to CHF 3.3 million, despite exceptional charges of CHF 1.3
million linked to the restructuring of Privatklinik Lindberg. For the first
time since its listing in 1999, the company will propose to its
shareholders at the General Meeting of 5 June 2013 the distribution of CHF
0.30 per share. The company expects revenues of more than CHF 450 million
in 2013, thanks to the integration of Clinique de Valère and Hôpital de la
Providence as at 1 January 2013.

AEVIS Holding SA (AEVIS) realised a good fiscal year 2012, despite the
uncertainties linked to the introduction of the new hospital financing
system and the DRGs. The name change and the subsequent integration of the
healthcare real estate portfolio Swiss Healthcare Properties AG with a
contribution in kind in July 2012 signalled the start of a new phase of
growth and diversification. Total turnover increased by 72% to CHF 344.4
million (CHF 200.8 million in 2011), mainly due to acquisitions of clinics
in Lugano and Solothurn. Organic growth amounted to 5.7%. The EBITDA surged
by 67% to CHF 40.0 million (of which CHF 24.6 million in the second
half-year), representing 11.6% of revenues. The operating profit (EBIT)
doubled to CHF 16.7 million (CHF 8.3 million in 2011), mainly due to the
integration of the healthcare real estate portfolio. Net profit amounted to
CHF 3.3 million or CHF 0.34 per share. These results enable the Board of
Directors to propose for the first time, at the General Meeting of 5 June
2013 in Fribourg, the distribution of CHF 0.30 per share.

Genolier Swiss Medical Network SA (GSMN) continues to grow
GSMN pursued its growth strategy and integrated the acquisitions of the
clinics Sant'Anna and Ars Medica in Lugano, Privatklinik Obach in Solothurn
and Privatklinik Lindberg in Winterthur. These additions were the main
factors contributing to GSMN's increase in revenues, which reached CHF
341.3 million in 2012. Clinique de Valère in Sion and Hôpital de la
Providence in Neuchatel were acquired early 2013 and will be consolidated
as of 1 January 2013. GSMN today comprises 12 clinics located in 8
different cantons and in all three of Switzerland's main linguistic
regions. GSMN offers nearly 800 beds, employs almost 2'500 persons and
counts around 1'100 admitting physicians in its clinics.

Integration of Swiss Healthcare Properties AG (SHP)
In July 2012, 5'600'000 new registered AEVIS shares with a nominal value of
CHF 5 per share were issued in exchange for a contribution in kind of all
outstanding shares of SHP. With the integration of this healthcare real
estate portfolio, the business model of the Group has been strengthened, as
has been the operational profitability. During 2012, SHP acquired the real
estate of the clinics Sant'Anna and Ars'Medica in Lugano, Privatklinik
Obach in Solothurn and Privatklinik Lindberg in Winterthur. At the
beginning of 2013, SHP also acquired the buildings of Clinique de Valère in
Sion and Privatklinik Bethanien in Zurich. SHP's property portfolio today
counts 25 quality entities located in premium locations, representing a
total rental surface of 110'867 m2 and a market value of CHF 578.2 million.
At the end of 2012, all properties were fully let, mostly to the GSMN
clinics.

Extension of complementary activities
The Nescens brand, active in the field of better aging and cosmetics,
continued its expansion with the opening of two preventive medicine and
check-up centres in Lugano and Genolier. In December 2012, the first clinic
entirely dedicated to aesthetic surgery, Clinique Nescens Paris Spontini,
opened its doors in Paris. 2013 will see the opening of Nescens medical
spas as well as new care products. AEVIS also made a first step into the
very fragmented ambulance market, with the acquisition of Geneva-based AS
Ambulances Services SA. AEVIS plans to further develop this activity while
contributing to the consolidation of the sector.

Challenging regulatory environment
Major regulatory challenges in 2012 were the introduction of the SwissDRG
(Swiss Diagnosis Related Groups) and the revision of the hospital financing
legislation LAMal, both effective since 1 January 2012. GSMN opted for a
flexible strategy, with both contracted clinics (for patients with
complementary insurances) and listed clinics (for patients with basic
insurance coverage) in its network. Well-managed and cost-effective clinics
will benefit from the new system, defining a fixed price per medical
service. At the same time, opportunities for private providers will arise
in the management of real estate facilities of hospitals and public
institutions, due to the fact that investments are integrated in the
forfeit financing and can no longer be financed by public funds.

Outlook 2013
AEVIS will continue to support GSMN's growth and evaluate investment
opportunities in the medical real estate market. The Group is expecting to
reach a turnover of more than CHF 450 million in 2013, based on both
internal growth and two acquisitions already realised since the beginning
of the year. Thanks to the optimisation of its existing facilities and the
diversification of its investments, AEVIS has the intention to realise in
the mid-term an EBITDA of over 20% of revenues, in line with industry
benchmarks. With these new scope, AEVIS foresees being able to reinforce
its distribution policy in 2013.

Detailed reporting
AEVIS Holding SA's Annual Report 2012 can be downloaded via this link:

http://www.aevis.com/aevis/pdf/AEVIS_AR_2012.pdf

Telephone conference for analysts and media today at 2.00 p.m. CET
A telephone conference for analysts and media will be held today at 2.00
p.m. CET (in English). Antoine Hubert (Delegate of the Board) and Gilles
Frachon (CFO) will be presenting the 2012 results and will be available to
answer questions. Registration is not required.
Dial-in number: +41 22 580 59 81 / PIN: 32 04 18 27

Investor Day in Zurich
AEVIS Holding AG will hold an Investor Day in Zurich on the premises of
Privatklinik Bethanien on 23 May 2013. A separate invitation will be
circulated shortly.

For further information:
AEVIS Holding AG Media and Investor Relations: c/o Dynamics Group, Zurich
Edwin van der Geest, vdg@dynamicsgroup.ch, +41 (0) 43 268 32 35 or +41 (0)
79 330 55 22
Philippe R. Blangey, prb@dynamicsgroup.ch, +41 (0) 43 268 32 35 or +41 (0)
79 785 46 32

About AEVIS Holding
AEVIS Holding SA invests in the healthcare sector, life sciences and
personal care services. AEVIS's main shareholdings are Genolier Swiss
Medical Network, the second largest group of private clinics in
Switzerland, Swiss Healthcare Properties AG, a company specialized in
medical real estate, Nescens SA, a brand dedicated to better aging, and AS
Ambulances Services SA. AEVIS plans to continue development in these
sectors of activity as well as in others, including outpatient surgical
centres, radiology and dental medicine. AEVIS Holding SA is listed on the
Domestic Standard segment of the SIX Swiss Exchange under AEVS.

30.04.2013 News transmitted by EquityStory AG.
The issuer is responsible for the contents of the release.

EquityStory publishes regulatory releases, media releases on the capital
market and press releases.
The EquityStory Group distributes authentic and real-time financial news
for over 1'300 listed companies.
The Swiss news archive can be found at www.equitystory.ch/news

---