06.02.2015 18:31:33
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Press Release: Valartis Group is expecting a significantly lower Group result for 2014
Valartis Group AG / Valartis Group is expecting a significantly lower Group result for 2014 . Processed and transmitted by Nasdaq OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.
Valartis Group will post an overall Group loss for the financial year 2014, taking into consideration exceptional factors arising out of continued and discontinued operations. The Group result for 2014 is therefore expected to be significantly lower than for 2013 (Group result for 2013: CHF 0.4 m). The exceptional factors include effects from the divestment of Valartis Bank AG, Switzerland in 2014 and the subsequent reorganisation of Valartis Group, as well as from a fair value adjustment of some purchase price payments from the sale of a participation in 2012. In addition, significantly lower interest income has negatively affected the overall Group result.
Already in the half-year report 2014, Valartis Group reported a Group loss of CHF 20.7 m for continued and discontinued operations in accordance with International Financial Reporting Standards (IFRS). According to the information currently available, Valartis Group is expecting a Group loss for the financial year 2014 which is significantly below the previous financial year (Group result 2013: CHF 0.4 m). Exceptional factors arising out of the closing of the divestment of the Swiss Bank on 29 August 2014 and the subsequent reorganisation of Valartis Group, together with the fair value adjustment of some purchase price payments from the sale of a participation in 2012, have also had significant negative effects on the overall Group result. In addition, the negative trend resulting from the continued low interest rate environment has also led to significantly lower interest rate income.
Assets under management of the continued operations rose in 2014 by 9 percent to CHF 6.6 bn (2013: CHF 6.0 bn). In particular, the continued positive trend in the Private Clients segment led to a 15 percent rise in assets under management to CHF 6.1 bn (previous year: 5.3 bn) and net new money increased to CHF 530 m (previous year: CHF 508 m).
Valartis Group will publish its Annual Report 2014 on 14 April 2015.
Agenda Results media conference 2015 14 April 2015 Annual General Meeting 2015 13 May 2015 Half-year report 2015 25 August 2015
For further information, please contact:
Mrs. Kim-My Schefer, Head Corporate Communications & Marketing
Tel. +41 43 336 82 94, corporate.communications@valartis.ch
Valartis Group
Valartis Group is an international banking and finance group represented today with offices in Liechtenstein, Austria, Switzerland as well as Luxembourg and Moscow. The Group's holding company is domiciled in Switzerland and is listed on the SIX Swiss Exchange. Valartis Finance Holding AG in Liechtenstein comprises the operations of the private banking and wealth management divisions, together with the private equity operations of ENR Russia Invest. Valartis Finance Holding AG is subject to the consolidated overview by the Financial Market Authority LiechtenSHYstein (FMA). Valartis Group focuses on the wealth management business for wealthy private clients and institutional investors in addition to traditional wealth manageSHYment and investment advisory, it develops, manages and markets innovative niche investment products and offers specialized product packages. In doing so, Valartis Group combines a wide range of traditional private banking services with specialized advisory and classical banking services in the fields of Asset Management, Corporate Finance and Private Equity together with innovative investment products in the categories Stocks, Fixed Income, Alternative Investments and Real Estate. Valartis Group's core markets include Central and Eastern Europe, the Middle East and certain countries in North and South America and Asia.
www.valartisgroup.ch
Press release (PDF): http://hugin.info/143135/R/1892552/670414.pdf
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Valartis Group AG via Globenewswire
HUG#1892552
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Valartis Group AG
Blegistrasse 11a Baar ZG Switzerland
ISIN: CH0001840450;
http://www.valartisgroup.ch/ (END) Dow Jones Newswires
February 06, 2015 12:00 ET (17:00 GMT)- - 12 00 PM EST 02-06-15
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