Overview
Swiss financial services firm's revenue rose 9.4% to 574.5 mln CHF
Net profit increased by 7.9% to 236.4 mln CHF
Assets under management grew 16.6% to 61.8 bln CHF
Outlook
Company expects demand for expertise to continue growing
VZ Holding anticipates low interest rates to slow banking income growth
CEO expects revenue and net profit growth to return to average levels
Result Drivers
CONSULTING DEMAND - Consulting fees increased by 13.4% as more individuals and companies sought advice from VZ Group
ASSETS UNDER MANAGEMENT - Assets under management grew by 16.6% to 61.8 bln CHF, supporting revenue development
BANKING INCOME DECLINE - Banking income fell by 10.1% due to lower interest rates
Company press release: ID:nEQbvK63Wa
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
FY Revenue
Beat
CHF 574.48 mln
CHF 567.61 mln (2 Analysts)
FY Net Income
CHF 236.44 mln
FY EBIT
CHF 274.24 mln
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the investment management & fund operators peer group is "buy"
Wall Street's median 12-month price target for Vz Holding Ltd is CHF181.00, about 24.8% above its February 26 closing price of CHF145.00
The stock recently traded at 23 times the next 12-month earnings vs. a P/E of 25 three months ago
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)