COMMUNIQUÉ DE PRESSE
par VZ Holding AG (ETR:CH002820)
VZ Group's growth above average
VZ Holding AG / Key word(s): Half Year Results
VZ Group's growth above average
14-Aug-2026 / 06:30 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.
Ad hoc announcement pursuant to Art. 53 LR
Source: VZ Holding Ltd / SIX: VZN / ISIN: CH0528751586
VZ Group's growth above average
Zug, 14 August 2026 – VZ Group’s total revenues rose by 13.9 percent to 316.5 million Swiss francs in the first half of 2026. Net profit grew by 17.7 percent to 131.9 million francs. Giulio Vitarelli, Chairman of the Executive Board, expects growth rates in the second half of the year to be similar to those in the first half.
Revenues up 13.9 percent, profit up 17.7 percent
The positive performance of the stock markets contributed to VZ Group’s business growing at an above-average rate in the first half of 2026. Total revenues rose by 13.9 percent from 277.9 to 316.5 million Swiss francs. An important proportion thereof is attributable to revenues from assets under management, which rose by 18.2 percent to 216.6 million francs. As expenses increased at a slower rate than revenues in the first half of the year, net profit grew by 17.7 percent, from 112 to 131.9 million francs.
Demand remains strong
Compared with the first half of 2025, the strong demand for financial advice was reflected in a rise in consulting fees of 6.7 percent. On a net basis, VZ Group was able to convert more than 5,100 new clients from consulting projects to its platform services. At the same time, existing clients are also using increasingly more platform services. As a result, net new money rose from 3 to 3.3 billion francs compared with the same period last year. Assets under management rose by 19.8 percent to 67.7 billion francs over the same period.
Robust balance sheet
The low-risk structure of the group’s balance sheet remains unchanged. As at 30 June, the combined common capital ratio stood at 28.4 percent. Since the end of the year, the balance sheet has grown by around 500 million francs, from 8.3 to 8.8 billion francs. This growth is primarily attributable to the expansion of the client base.
Outlook
«Demand for first-class financial advice continues to rise and is set to underpin the growth of our business in the coming years», says Giulio Vitarelli, Chief Executive Officer. «Provided that the financial markets remain stable, we expect growth rates in the second half of the year to be similar to those in the first half. Shareholders can expect the dividend to rise once again in line with profit growth.»
Half-year report
The detailed half-year report as well as an investor presentation can be downloaded from the investor relations section on VZ Group’s website: vzch.com/investors
Conference call
Media representatives and analysts are invited to discuss VZ Group’s results in one of today’s teleconferences hosted by Giulio Vitarelli (Chairman of the Executive Board) and Rafael Pfaffen (Chief Financial Officer). For details, please get in touch with André Bissegger or Petra Märk:
Contacts
Alternative performance measures
To measure its performance, VZ Group uses key figures that are not defined under IFRS Accounting Standards (IFRS). These alternative performance measures are listed on page 34 of the half-year report 2026.
VZ Group
VZ is an independent Swiss financial service company, and VZ Holding Ltd’s shares are listed on the SIX Swiss Exchange. Asset management, pension and estate planning for individuals as well as insurance and pension fund management for companies are VZ Group’s core services. VZ Holding Ltd is headquartered in Zug, and VZ has more than 40 branch offices in Switzerland, Germany and England.
Forward-looking statements
This press release contains forward-looking statements that involve known and unknown risks, uncertainties or other factors that may cause the actual results to be materially different from any future results implied by such statements. Against the background of these uncertainties, readers should not rely on such forward-looking statements. The company assumes no responsibility to update forward-looking statements or to adapt them to future events or developments.
Key figures
Source: VZ Holding Ltd / SIX: VZN / ISIN: CH0528751586
VZ Group's growth above average
Zug, 14 August 2026 – VZ Group’s total revenues rose by 13.9 percent to 316.5 million Swiss francs in the first half of 2026. Net profit grew by 17.7 percent to 131.9 million francs. Giulio Vitarelli, Chairman of the Executive Board, expects growth rates in the second half of the year to be similar to those in the first half.
Revenues up 13.9 percent, profit up 17.7 percent
The positive performance of the stock markets contributed to VZ Group’s business growing at an above-average rate in the first half of 2026. Total revenues rose by 13.9 percent from 277.9 to 316.5 million Swiss francs. An important proportion thereof is attributable to revenues from assets under management, which rose by 18.2 percent to 216.6 million francs. As expenses increased at a slower rate than revenues in the first half of the year, net profit grew by 17.7 percent, from 112 to 131.9 million francs.
Demand remains strong
Compared with the first half of 2025, the strong demand for financial advice was reflected in a rise in consulting fees of 6.7 percent. On a net basis, VZ Group was able to convert more than 5,100 new clients from consulting projects to its platform services. At the same time, existing clients are also using increasingly more platform services. As a result, net new money rose from 3 to 3.3 billion francs compared with the same period last year. Assets under management rose by 19.8 percent to 67.7 billion francs over the same period.
Robust balance sheet
The low-risk structure of the group’s balance sheet remains unchanged. As at 30 June, the combined common capital ratio stood at 28.4 percent. Since the end of the year, the balance sheet has grown by around 500 million francs, from 8.3 to 8.8 billion francs. This growth is primarily attributable to the expansion of the client base.
Outlook
«Demand for first-class financial advice continues to rise and is set to underpin the growth of our business in the coming years», says Giulio Vitarelli, Chief Executive Officer. «Provided that the financial markets remain stable, we expect growth rates in the second half of the year to be similar to those in the first half. Shareholders can expect the dividend to rise once again in line with profit growth.»
Half-year report
The detailed half-year report as well as an investor presentation can be downloaded from the investor relations section on VZ Group’s website: vzch.com/investors
Conference call
Media representatives and analysts are invited to discuss VZ Group’s results in one of today’s teleconferences hosted by Giulio Vitarelli (Chairman of the Executive Board) and Rafael Pfaffen (Chief Financial Officer). For details, please get in touch with André Bissegger or Petra Märk:
Contacts
| André Bissegger | Petra Märk |
| Media Communications | Head Investor Relations |
| Phone +41 44 207 21 73 | Phone +41 44 207 26 32 |
| Mail andre.bissegger@vzch.com | Mail petra.maerk@vzch.com |
Alternative performance measures
To measure its performance, VZ Group uses key figures that are not defined under IFRS Accounting Standards (IFRS). These alternative performance measures are listed on page 34 of the half-year report 2026.
VZ Group
VZ is an independent Swiss financial service company, and VZ Holding Ltd’s shares are listed on the SIX Swiss Exchange. Asset management, pension and estate planning for individuals as well as insurance and pension fund management for companies are VZ Group’s core services. VZ Holding Ltd is headquartered in Zug, and VZ has more than 40 branch offices in Switzerland, Germany and England.
Forward-looking statements
This press release contains forward-looking statements that involve known and unknown risks, uncertainties or other factors that may cause the actual results to be materially different from any future results implied by such statements. Against the background of these uncertainties, readers should not rely on such forward-looking statements. The company assumes no responsibility to update forward-looking statements or to adapt them to future events or developments.
Key figures
| Income statement (CHF '000) | 1H 2026 | 2H 2025 | 1H 2025 |
| Total Revenues | 316’492 | 296’546 | 277’931 |
| Total Expenses | 163’354 | 152’288 | 147’952 |
| Operating profit (EBIT) | 153’138 | 144’258 | 129’979 |
| Net profit | 131’896 | 124’397 | 112’041 |
| Balance sheets (CHF '000) | 30.06.2026 | 31.12.2025 | 30.06.2025 |
| Total assets | 8’762’462 | 8’270’247 | 8’049’183 |
| Equity | 1’207’314 | 1’182’923 | 1’061’304 |
| Equity key figures | 30.06.2026 | 31.12.2025 | 30.06.2025 |
| Equity ratio | 13.8% | 14.3% | 13.2% |
| Common equity capital (CET1) ratio combined | 28.4% | 28.4% | 28.4% |
| Total eligible capital ratio combined | 28.4% | 28.4% | 28.4% |
| Assets under management (CHF million) | 30.06.2026 | 31.12.2025 | 30.06.2025 |
| Assets under management | 67’716 | 61’834 | 56’545 |
| Employees | 30.06.2026 | 31.12.2025 | 30.06.2025 |
| Full-time equivalents (FTE) | 1’794.3 | 1’716.9 | 1’621.9 |
End of Inside Information
| Language: | English |
| Company: | VZ Holding AG |
| Innere Güterstrasse 2 | |
| 6300 Zug | |
| Switzerland | |
| Phone: | +41 58 411 80 00 |
| E-mail: | ir@vzch.com |
| Internet: | www.vzch.com |
| ISIN: | CH0528751586 |
| Listed: | SIX Swiss Exchange |
| EQS News ID: | 2382674 |
| End of Announcement | EQS News Service |
2382674 14-Aug-2026 CET/CEST