BVZ Holding (BVZN) H1 2024 earnings summary

Executive summary

• Revenue rose by CHF 7.1 million or 7.4% year-over-year to CHF 103.7 million in H1 2024, driven by strong international tourism and stable domestic demand until severe weather disruptions in late June.

• Net profit declined by CHF 3.1 million or 24.6% to CHF 9.5 million, mainly due to weather-related costs and a weaker result in the subsidized Mobility segment.

• Private business segments maintained strong performance, offsetting some of the negative impact from public service disruptions.

Financial highlights

• Operating expenses increased by CHF 5.7 million (8.4%) to CHF 73.4 million; depreciation rose by CHF 3.6 million to CHF 16.5 million.

• EBIT for H1 2024 was CHF 13.8 million, down from CHF 15.9 million in H1 2023.

• Earnings per share fell to CHF 38.59 from CHF 56.90 year-over-year.

• Cash flow from operations was CHF 27.7 million, down from CHF 34.0 million in the prior year period.

Outlook and guidance

• Weather-related disruptions are expected to further impact the Mobility segment in H2 2024, but private segments are projected to remain resilient.

• Strategic planning for 2025–2028 is underway, focusing on diversification and leveraging strengths in tourism and real estate.