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Bellevue Group AG / Key word(s): Half Year Results
Ad hoc announcement pursuant to Art. 53 of the SIX Listing Rules
Zurich, June 14, 2022
Half-year results 2022
Bellevue anticipates significantly lower half-year result
Based on the currently available internal May figures, Bellevue Group expects a significantly lower business result for the first half of 2022 compared to the previous year. The slowdown in business development is in particular due to the market turbulence resulting from the departure from the expansive monetary policy, rising inflation fears and acute geopolitical uncertainties in the first half of the year. In addition, the reduced demand for small and medium-sized companies with great innovative strength in the healthcare sector – Bellevue's recognized investment expertise – that was already noticeable in the fourth quarter of 2021 continued in the first half of 2022.
The reduced customer assets due to the very challenging market environment will lead to an approximately 15-20% lower operating result in the first half of 2022. In addition, the half-year result will be reduced by approximately 20% year-on-year due to non-recurring, unrealized losses on investments in proprietary products and financial investments for participation programs. This loss is due to the ongoing market dislocations in the healthcare sector, after gains were made on these investments in the previous year. These developments add up to an expected lower half-year result for Bellevue in 2022 of around 35-40%. Bellevue's customer base remained very stable even in this exceptional environment.
In view of the persistently uncertain geopolitical situation and the continuing very high market volatility, Bellevue expects business to remain subdued for the rest of the year. The very stable and broad-based customer base forms a solid foundation for long-term business development. The medium- to long-term growth prospects based on our clear positioning remain intact.
The half-year report for 2022 will be published on July 28, 2022.
Investor Relations: Michael Hutter, CFO Bellevue Group
End of ad hoc announcement
Bellevue Group AG
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