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29.01.2024 19:00:56 - dpa-AFX: EQS-Adhoc: Bellevue expects a sharp drop in consolidated net profit to CHF 15 mn - ordinary dividend of CHF 1.15 per share to be proposed (english)
Bellevue expects a sharp drop in consolidated net profit to CHF 15 mn -
ordinary dividend of CHF 1.15 per share to be proposed
Bellevue Group AG / Key word(s): Annual Results/Dividend
Bellevue expects a sharp drop in consolidated net profit to CHF 15 mn -
ordinary dividend of CHF 1.15 per share to be proposed
29-Jan-2024 / 19:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.
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Ad hoc announcement pursuant to Art. 53 of the SWX Listing Rules
Zurich, January 29, 2024
2023 annual results
Bellevue expects a sharp drop in consolidated net profit to CHF 15 mn -
ordinary dividend of CHF 1.15 per share to be proposed
Bellevue Group expects a significantly lower net profit of approximately CHF
15 mn based on unaudited financial statements. This decline is attributed in
particular to the continued subpar and in some cases negative performance of
small- and mid-cap growth stocks in the healthcare sector - Bellevue's
acknowledged area of expertise. Average assets under management over the
year declined significantly, by some 21%, compared to the previous year's
level. Despite selective investments to broaden and deepen the Group's
investment expertise and modernize its infrastructure, operating expenses
were reduced by about 5%. The resulting consolidated net profit for the 2023
financial year will be approximately 40% lower at about CHF 15 mn.
Thanks to the attractive valuations of the aforementioned segments and
indications of a stabilization on the interest-rate front, signs of a
recovery of small- and mid-cap healthcare stocks began to materialize during
the fourth quarter of 2023. This had a positive impact on the performance of
Bellevue's healthcare strategies. The company's mid- to long-term growth
outlook remains intact given its clearly defined position as a specialist
asset manager.
Bellevue reiterates its shareholder-friendly dividend policy. The Board of
Directors will propose an ordinary dividend of CHF 1.15 per share at the
Annual General Meeting of shareholders on March 20, 2024. Based on the
closing share price of December 31, 2023, this corresponds to a dividend
yield of 4.7%.
The full annual report for 2023 will be published on February 27, 2024.
Contact
Media Relations: Jürg Stähelin, IRF
Telephone: +41 43 244 81 51, staehelin@irf-reputation.ch
Investor Relations: Michael Hutter, CFO Bellevue Group
Telephone: +41 44 267 67 00, mhu@bellevue.ch
Bellevue
Bellevue is a specialized asset manager listed on the SIX Swiss Exchange
with core competencies covering healthcare strategies, alternative
investments (including private equity) and selected niche strategies.
Established in 1993, Bellevue, a House of Investment Ideas staffed by 100
professionals, generates attractive investment returns and creates value
added for clients and shareholders alike. Bellevue managed assets of CHF 6.9
bn as of December 31, 2023.
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1825463 29-Jan-2024 CET/CEST
ordinary dividend of CHF 1.15 per share to be proposed
Bellevue Group AG / Key word(s): Annual Results/Dividend
Bellevue expects a sharp drop in consolidated net profit to CHF 15 mn -
ordinary dividend of CHF 1.15 per share to be proposed
29-Jan-2024 / 19:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Ad hoc announcement pursuant to Art. 53 of the SWX Listing Rules
Zurich, January 29, 2024
2023 annual results
Bellevue expects a sharp drop in consolidated net profit to CHF 15 mn -
ordinary dividend of CHF 1.15 per share to be proposed
* Persistent difficult market environment for small- and mid-cap growth
stocks in the healthcare - reduction of assets under management and
earnings base by more than 20% from the prior-year level
* Preliminary consolidated net profit about 40% lower compared to previous
year
* Shareholder-friendly dividend policy reiterated - 4.7% dividend yield
based on dividend proposal of CHF 1.15
Bellevue Group expects a significantly lower net profit of approximately CHF
15 mn based on unaudited financial statements. This decline is attributed in
particular to the continued subpar and in some cases negative performance of
small- and mid-cap growth stocks in the healthcare sector - Bellevue's
acknowledged area of expertise. Average assets under management over the
year declined significantly, by some 21%, compared to the previous year's
level. Despite selective investments to broaden and deepen the Group's
investment expertise and modernize its infrastructure, operating expenses
were reduced by about 5%. The resulting consolidated net profit for the 2023
financial year will be approximately 40% lower at about CHF 15 mn.
Thanks to the attractive valuations of the aforementioned segments and
indications of a stabilization on the interest-rate front, signs of a
recovery of small- and mid-cap healthcare stocks began to materialize during
the fourth quarter of 2023. This had a positive impact on the performance of
Bellevue's healthcare strategies. The company's mid- to long-term growth
outlook remains intact given its clearly defined position as a specialist
asset manager.
Bellevue reiterates its shareholder-friendly dividend policy. The Board of
Directors will propose an ordinary dividend of CHF 1.15 per share at the
Annual General Meeting of shareholders on March 20, 2024. Based on the
closing share price of December 31, 2023, this corresponds to a dividend
yield of 4.7%.
The full annual report for 2023 will be published on February 27, 2024.
Contact
Media Relations: Jürg Stähelin, IRF
Telephone: +41 43 244 81 51, staehelin@irf-reputation.ch
Investor Relations: Michael Hutter, CFO Bellevue Group
Telephone: +41 44 267 67 00, mhu@bellevue.ch
Bellevue
Bellevue is a specialized asset manager listed on the SIX Swiss Exchange
with core competencies covering healthcare strategies, alternative
investments (including private equity) and selected niche strategies.
Established in 1993, Bellevue, a House of Investment Ideas staffed by 100
professionals, generates attractive investment returns and creates value
added for clients and shareholders alike. Bellevue managed assets of CHF 6.9
bn as of December 31, 2023.
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Language: English
Company: Bellevue Group AG
Seestrasse 16
8700 Küsnacht
Switzerland
Phone: +41 44 267 67 00
Fax: +41 44 267 67 01
E-mail: info@bellevue.ch
Internet: www.bellevue.ch
ISIN: CH0028422100
Valor: A0LG3Z
Listed: SIX Swiss Exchange
EQS News ID: 1825463
End of Announcement EQS News Service
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1825463 29-Jan-2024 CET/CEST
