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

AEVIS VICTORIA SA / Key word(s): Sales Result
AEVIS VICTORIA SA (AEVS.SW) - Publication of the 2023 revenue

21-March-2024 / 07:00 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 LR

Fribourg, 21 March 2024

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

AEVIS VICTORIA SA (AEVIS) saw contrasting revenue developments in its
holdings in 2023. A record year for hospitality & services, while healthcare
experienced a stagnation. However, the overall value of the participations
increased significantly. The investment company expects a net loss of
between CHF 35 and 45 million due to the absence of M&A transactions
affecting the result.

MRH Switzerland SA (ex-Victoria Jungfrau AG), the subsidiary dedicated to
the hotel operations, achieved revenues of CHF 170.5 million in 2023, up by
10.3% (2022: CHF 154.5 million). Benefiting from investments and
repositioning, the average room rate increased from CHF 412 in 2019 to CHF
559 in 2023, enabling the absorption of rising costs due to inflation and
the geopolitical situation. Destinations like Zermatt and Interlaken
performed exceptionally well, buoyed by the positive momentum in
Switzerland's tourism sector. The organic growth of 6.4% recorded in 2023
continued into the first months of 2024.

Swiss Hotel Properties SA, the hotel real estate subsidiary, saw the value
of its real estate portfolio grow to approximately CHF 855 million, mainly
due to acquisitions and developments in Zermatt and Interlaken.

Batgroup, a minority and non-consolidated subsidiary of AEVIS specializing
in on-demand home services, increased revenues by 10.0% to CHF 34.1 million,
of which CHF 31.5 million in Switzerland. In the fourth quarter of 2023, the
company achieved a positive EBITDA for the first time. Batgroup acquired
Putzfrau.ch in 2023, the leading company in the sector in the
German-speaking part of Switzerland, securing its top position in
Switzerland.

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).

AEVIS' consolidated revenue, a less representative indicator for an
investment company, amounted to CHF 953.0 million (2022: CHF 1.14 billion),
down due to the deconsolidation of Réseau de l'Arc and the absence of M&A
transactions affecting the result. On a like-for-like basis, organic growth
stood at 1.5%.

AEVIS will publish its 2023 Annual Report on Thursday 28 March 2024. The
investment company expects a net loss after depreciation, amortization and
financial expenses of between CHF 35 and 45 million.

For further information:
AEVIS VICTORIA SA Media and Investor Relations: c/o Dynamics Group, Zurich
Philippe R. Blangey, prb@dynamicsgroup.ch, +41 (0) 43 268 32 35 or +41 (0)
79 785 46 32
Séverine Van der Schueren, svanderschueren@aevis.com, +41 (0) 79 635 04 10

AEVIS VICTORIA SA - Investing for a better life
AEVIS VICTORIA SA invests in healthcare, hospitality & lifestyle and
infrastructure. AEVISs main shareholdings are Swiss Medical Network SA
(80%, directly and indirectly), the only Swiss private network of hospitals
present in the country's three main language regions, MRH Switzerland AG, a
luxury hotel group managing eleven luxury hotels in Switzerland and abroad,
Infracore SA (30%, directly and indirectly), a real estate company dedicated
to healthcare-related infrastructure, Swiss Hotel Properties SA, a
hospitality real estate division, and NESCENS SA, a brand dedicated to
better aging. AEVIS is listed on the Swiss Reporting Standard of the SIX
Swiss Exchange (AEVS.SW). www.aevis.com.


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End of Inside Information

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1863565 21-March-2024 CET/CEST