Valartis Group is expecting a significantly lower Group result for 2014
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Valartis Group AG /
Valartis Group is expecting a significantly lower Group result for 2014
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Valartis Group will post an overall Group loss for the financial year 2014,
taking into consideration exceptional factors arising out of continued and
discontinued operations. The Group result for 2014 is therefore expected to be
significantly lower than for 2013 (Group result for 2013: CHF 0.4 m). The
exceptional factors include effects from the divestment of Valartis Bank AG,
Switzerland in 2014 and the subsequent reorganisation of Valartis Group, as well
as from a fair value adjustment of some purchase price payments from the sale of
a participation in 2012. In addition, significantly lower interest income has
negatively affected the overall Group result.
Already in the half-year report 2014, Valartis Group reported a Group loss of
CHF 20.7 m for continued and discontinued operations in accordance with
International Financial Reporting Standards (IFRS). According to the information
currently available, Valartis Group is expecting a Group loss for the financial
year 2014 which is significantly below the previous financial year (Group result
2013: CHF 0.4 m). Exceptional factors arising out of the closing of the
divestment of the Swiss Bank on 29 August 2014 and the subsequent reorganisation
of Valartis Group, together with the fair value adjustment of some purchase
price payments from the sale of a participation in 2012, have also had
significant negative effects on the overall Group result. In addition, the
negative trend resulting from the continued low interest rate environment has
also led to significantly lower interest rate income.
Assets under management of the continued operations rose in 2014 by 9 percent to
CHF 6.6 bn (2013: CHF 6.0 bn). In particular, the continued positive trend in
the Private Clients segment led to a 15 percent rise in assets under management
to CHF 6.1 bn (previous year: 5.3 bn) and net new money increased to CHF 530 m
(previous year: CHF 508 m).
Valartis Group will publish its Annual Report 2014 on 14 April 2015.
Agenda
Results media conference 2015 14 April 2015
Annual General Meeting 2015 13 May 2015
Half-year report 2015 25 August 2015
For further information, please contact:
Mrs. Kim-My Schefer, Head Corporate Communications & Marketing
Tel. +41 43 336 82 94, corporate.communications(at)valartis.ch
Valartis Group
Valartis Group is an international banking and finance group represented today
with offices in Liechtenstein, Austria, Switzerland as well as Luxembourg and
Moscow. The Group's holding company is domiciled in Switzerland and is listed on
the SIX Swiss Exchange. Valartis Finance Holding AG in Liechtenstein comprises
the operations of the private banking and wealth management divisions, together
with the private equity operations of ENR Russia Invest. Valartis Finance
Holding AG is subject to the consolidated overview by the Financial Market
Authority Liechtenstein (FMA). Valartis Group focuses on the wealth management
business for wealthy private clients and institutional investors in addition to
traditional wealth management and investment advisory, it develops, manages and
markets innovative niche investment products and offers specialized product
packages. In doing so, Valartis Group combines a wide range of traditional
private banking services with specialized advisory and classical banking
services in the fields of Asset Management, Corporate Finance and Private Equity
together with innovative investment products in the categories Stocks, Fixed
Income, Alternative Investments and Real Estate. Valartis Group's core markets
include Central and Eastern Europe, the Middle East and certain countries in
North and South America and Asia.
www.valartisgroup.ch
Press release (PDF):
http://hugin.info/143135/R/1892552/670414.pdf
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Source: Valartis Group AG via GlobeNewswire
[HUG#1892552]
Unternehmensinformation / Kurzprofil:
Datum: 06.02.2015 - 18:00 Uhr
Sprache: Deutsch
News-ID 369835
Anzahl Zeichen: 4984
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