EQS-Adhoc: Bellevue Group with expected operating profit close to CHF 20 mn - Veit de Maddalena proposed as new Chairman with two new Board members

Media Release

Küsnacht, January 30, 2019

Bellevue Group with expected net profit after tax close to CHF 20 million -
Veit de Maddalena proposed as new Chairman with two new Board members
 

• Expected operating profit of about CHF 24.6 million for fiscal 2018, preliminary after-tax profit of almost CHF 20 million
   
• Assets under management of just under CHF 11 billion at year-end
   
• ​Proposed dividend of CHF 0.85 per share plus a cash distribution of CHF 0.25 per share from capital contribution reserves
   
• Non-executive director Veit de Maddalena to be proposed as new Chairman at the Annual General Meeting on March 19, 2019
   
• Katrin Wehr-Seiter and Urs Schenker to be proposed as new members of the Board of Directors

The Board of Directors and the Group Executive Board of Bellevue Group decided today to issue an ad hoc announcement for the company's shareholders, clients and employees.

Preliminary results for 2018 slightly lower due to market conditions

Based on the preliminary consolidated results, the group profit after tax for the 2018 fiscal year is expected to approach CHF 20 million. Bellevue Group reported an operating profit of CHF 13.5 million as per June 30, 2018. Challenging market conditions during the second half of 2018 diminished the group's operating performance, resulting in an expected full-year operating profit of about CHF 24.6 million. Assets under management dipped just below CHF 11 billion due to market conditions.

The Board of Directors will propose a continuous payout at the Annual General Meeting of shareholders: a dividend of CHF 0.85 per share plus a cash distribution of CHF 0.25 per share from capital contribution reserves.

Changes in the Board of Directors

The current director Veit de Maddalena will be proposed as the new chairman of the board at the Annual General Meeting on March 19, 2019. He is the designated successor to Thomas von Planta, who has decided not to stand for re-election. Mrs. Mirjam Staub-Bisang is also not standing for re-election.

Katrin Wehr-Seiter and Urs Schenker will be proposed as new members of the Board of Directors.

Katrin Wehr-Seiter is a Partner and Managing Director of BIP Capital Partners SA and BIP Investment Partners SA, both Luxembourg-based companies. Mrs. Wehr-Seiter had previously worked as a Principal at Permira, and supported thereafter as an independent advisor of medium-sized companies, and the international private equity group Bridgepoint as a Senior Advisor.

Urs Schenker holds law degrees from the University of Zurich (Dr. iur.) and Harvard (LLM) and is an attorney with Walder Wyss in Zurich. He has extensive experience in corporate, financial and capital markets law and is titular professor at the University of St. Gallen.

At the 2019 Annual General Meeting, the currently serving directors Veit de Maddalena, Daniel Sigg and Rupert Hengster will be standing for re-election and Katrin Wehr-Seiter and Urs Schenker will be proposed for election as new members of the board.

The annual report for 2018 will be published on February 26, 2019.

Contact:

Media Relations: Jürg Stähelin, IRF Communications

Telephone +41 43 244 81 51, juerg.staehelin@irfcom.ch

Investor Relations: André Rüegg, Group CEO

Telephone +41 44 267 67 00, Fax +41 44 267 67 01, ir@bellevue.ch

Bellevue Group

Bellevue Group is an independent Swiss asset management boutique listed on the SIX Swiss Exchange. Established in 1993, the company and its approximately 120 professionals are largely active in the areas of asset management and wealth management. The Asset Management segment offers a select range of active equity strategies in fast-growing markets, the healthcare sector and in other special themes such as owner-managed companies, as well as successful holistic investment strategies across all traditional asset classes. Bank am Bellevue offers first-class wealth and investment advisory services with a special focus on entrepreneurial private clients. The Group's offering of investment-related solutions is rounded out by other services. These include the establishment, management and consultation of Investment Offices, trading and custody services, and selected credit facilities for affluent private clients as well as institutional clients.