AEVIS (AEVIS) H1 2024 earnings summary

Executive summary

• Revenue increased by 8.2% year-over-year to CHF 527.6 million in H1 2024, driven by strong organic growth in healthcare and hospitality segments.

• EBITDAR rose 21.3% to CHF 87.7 million, with margin improving to 18.9%, reflecting operational efficiency.

• Net profit reached CHF 0.7 million, reversing a CHF 10.2 million loss in H1 2023.

• New executive management team appointed, including CEO, CFO/CIO, and CAO, to drive strategic growth and sustainability.

• Strategic transformation continues toward a diversified investment model, including gradual opening of Swiss Medical Network's capital.

Financial highlights

• Net revenue rose to CHF 527.6 million, with organic growth of 7.1%.

• EBITDAR margin improved to 18.9%; EBITDA surged 45.2% to CHF 45.4 million, margin at 9.8%.

• Equity ratio improved to 29.4% as of June 2024; leverage ratio reduced to 54.8%.

• Cash and cash equivalents decreased to CHF 31.1 million from CHF 80.7 million at year-end 2023.

• Non-diluted earnings per share: CHF -0.01 (improved from CHF -0.13 year-over-year).

Outlook and guidance

• Positive full-year results expected, supported by strong hotel and healthcare performance.

• Real estate holdings anticipated to benefit from robust tenant momentum.

• No consolidated revenue or margin targets set for FY 2024 due to macroeconomic uncertainties.