Bellevue announces market-influenced drop in net profit to CHF 15.2 million and proposes dividend of CHF 1.15

Bellevue Group AG has published its annual results for 2023, revealing a 40% drop in net profit to CHF 15.2 million, mainly due to a difficult market environment for small and medium-sized company stocks in growth. Despite this, the group is proposing a dividend of 1.15 CHF, reflecting a yield of 4.7%. This period was also marked by a 26% drop in assets under management to CHF 6.9 billion, partly due to the reallocation of clients towards more profitable investment sectors.

Bellevue's operating income decreased by 15% to CHF 81.9 million, thanks however to an improvement in the net result of financial investments and performance fees linked to the private market area. The drop in net profit is accompanied by a 5% reduction in operational costs, mainly thanks to an entrepreneurial compensation model. This management led to an increase in the cost/income ratio to 71%, beyond the medium-term objective.

Bellevue, however, is optimistic about the future thanks to the recent recovery in its key markets since the fourth quarter of 2023, particularly in the healthcare sector. Gebhard Giselbrecht, CEO of Bellevue, highlights the promising growth potential of the product range in an improved market environment. In addition, the integration of new experts into the Bellevue Group Board of Directors demonstrates their commitment to supporting future development.