HBM Healthcare Investments Reports Significant Quarterly Profit and Modest Annual Growth

HBM Healthcare Investments AG disclosed a notable quarterly profit of CHF 156 million for the last quarter of the 2023/24 financial year as of March end. This surge helped counterbalance the losses faced in the initial nine months, leading to a 10.3 percent increase in the net asset value per share (NAV) to CHF 248.10.

Positive currency effects were primarily responsible for this quarterly upturn, following a period of significant Swiss franc appreciation. Although listed investments contributed positively to the quarterly results, adjustments in the valuation of private companies slightly dampened the overall performance.

For the full financial year 2023/2024, HBM Healthcare Investments presented a balanced outcome. Despite a marginal increase in NAV by 0.3 percent, the company anticipates a small annual loss of around CHF 1 million. The positive NAV movement is attributed to the share buyback program, which saw about 89,000 treasury shares bought back for CHF 15.6 million.

While public companies positively impacted the annual performance, setbacks in Cathay Biotech's stock price, negative currency effects, and underperformance in private sectors and funds negatively influenced the year's results. The company's net assets, valued at CHF 1.7 billion as of 31 March 2024, include contributions from cash, listed and private companies, fund investments, and other assets.

The reported figures are preliminary and unaudited, pending the final financial closure. HBM Healthcare Investments will release the definitive annual results on 8 May 2024.