2020

28.01.2020 – Bellevue Group AG

Bellevue Group reports preliminary operating profit of CHF 39 mn and declares a special dividend of CHF 2.75 per share

Bellevue Group AG / Key word(s): Preliminary Results
Bellevue Group reports preliminary operating profit of CHF 39 mn and
declares a special dividend of CHF 2.75 per share

28-Jan-2020 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.

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Media release

Küsnacht, January 28, 2020

Annual results for 2019: Focus on Asset Management as the continuing
business1

Bellevue Group reports preliminary operating profit of CHF 39 mn and
declares a special dividend of CHF 2.75 per share

  * Operating profit of more than CHF 39 mn expected for fiscal year 20192

  * Sharp increase in assets under management of 18.1% to CHF 10.6 bn raises
    total operating income to CHF 104 mn2

  * Board proposes an ordinary dividend of CHF 1.25 per share (+13.6%)

  * Board proposes a special dividend of CHF 2.75 per share following sale
    of SIX shares

  * Slightly positive contribution from Bank am Bellevue to earnings (before
    restructuring charges)

  * One-off restructuring costs and impairment losses of more than CHF 19 mn
    impacts the expected consolidated Group net profit of CHF 11 mn3

Bellevue Group announced the sale of Bank am Bellevue on August 20, 2019 as
part of a strategic shift towards its successful international asset
management business. The transaction is scheduled to be completed in the
first quarter of 2020. Consequently, the reporting of its full-year results
for 2019 will be based on the Group's continuing business activities as a
standalone asset manager. The results of the discontinued business
operations following the divestment of Bank am Bellevue will be presented in
summary form only.

Based on the available, preliminary numbers, Bellevue Group expects assets
under management at its continuing asset management activities to show a
significant increase of 18.1% to CHF 10.6 bn. This leads to sharply higher
operating income of CHF 104 mn, an increase of more than 12% from the
previous year. Operating profit forecasting to show an even greater increase
of 30% to more than CHF 39 mn. Due to non-recurring impairment losses of
more than CHF 11 mn, after-tax profit is expected to amount to CHF 16 mn.

Preliminary Group net profit will be additionally impacted by one-off
restructuring costs and impairment losses of CHF 8 mn in connection with the
planned divestment of Bank am Bellevue and is therefore expected to amount
to CHF 11 mn.

In keeping with its shareholder-friendly dividend policy, the Board of
Directors will propose an ordinary dividend of CHF 1.25 per share plus a
special dividend of CHF 2.75 per share at the Annual General Meeting of
March 24, 2020. Bellevue Group is returning most of the proceeds from the
sale of its stake in SIX to shareholders through the special cash dividend.

Bellevue Group's annual report for 2019 will be published on March 3, 2020.

1 The reporting of 2019 annual results is focused on the continuing business
activities as a standalone asset manager; divestment of Bank am Bellevue
announced on August 20, 2019; the Bank's results will be presented in
summary form only (reported as discontinued operations)

2 Operating profit of continuing business activities, excluding discontinued
business operations

3 Consolidated Group net profit from all business areas


Events calendar:
March 24, 2020 General Meeting of Shareholders
July 30, 2020 Publication of half-year results for 2020


Contact:
Media Relations: Jürg Stähelin, IRF
Telephone: +41 44 244 81 51, staehelin@irf-reputation.ch

Investor Relations: Patrik Gilli, CFO Bellevue Group
Telephone: + 41 44 267 67 00, pgi@bellevue.ch


Bellevue Group

Bellevue Group is an independent Swiss financial boutique focused on the
asset management business. Its shares are listed on the SIX Swiss Exchange.
Established in 1993, the activities of the pure-play asset manager and its
approximately 100 employees are concentrated on innovative and distinctive
active equity investment strategies in the healthcare sector, specialized
regional equity strategies, traditional equity, fixed income and multi asset
class strategies, as well as alternative investments (absolute return and
private equity strategies).


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End of ad hoc announcement

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