BVZ Holding (BVZN) H2 2024 earnings summary

Executive summary

• Revenue increased by 5% year-over-year to CHF 216.2 million, with over 10 million passengers transported for the second consecutive year.

• Net profit reached CHF 23.0 million, down from CHF 29.6 million in the prior year, mainly due to higher costs from weather-related disruptions.

• The Board proposes a dividend of CHF 18 per share, a 12.5% increase from the previous year.

• The company launched its 2025–2028 strategy, focusing on value creation, customer orientation, cooperation, technology, and culture.

Financial highlights

• EBITDA was CHF 66.0 million (30.5% margin), EBIT CHF 32.1 million (14.8% margin), and net profit CHF 23.0 million.

• Operating cash flow reached CHF 61.4 million; investments totaled CHF 27.5 million.

• Equity ratio improved to 36.4% (from 33.9%), and return on equity was 9.0%.

• Earnings per share were CHF 109, with a proposed dividend payout ratio of 16.5%.

Outlook and guidance

• Management expects continued profitable growth in 2025, supported by strong international tourism demand and new real estate projects.

• The 2025–2028 strategy aims to maintain or exceed 2024 results, with a focus on premium offerings and sustainability.

• Risks from geopolitical instability and weather events remain, but the company is well-positioned for further expansion.