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VZN VZ Holding AG News Story

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Switzerland's VZ Holding annual revenue rises 9.4% on consulting demand

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

MetricBeat/MissActualConsensus Estimate
FY RevenueBeatCHF 574.48 mlnCHF 567.61 mln (2 Analysts)
FY Net IncomeCHF 236.44 mln
FY EBITCHF 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.)

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