lifePR
Pressemitteilung BoxID: 390820 (VZ VermögensZentrum AG)
  • VZ VermögensZentrum AG
  • Beethovenstrasse 24
  • 8002 Zürich
  • http://www.vzch.com
  • Ansprechpartner
  • Nicola Waldmeier
  • +41 (44) 20727-27

VZ Group increases revenues and profits by 6 percent

(lifePR) (Zürich, ) In comparison to the previous year VZ Gruop increased net profit by 6.4% to CHF 54.3 million. Operating revenues totalled CHF 153.2 million (+6.8%), while operating costs rose to CHF 83.3 million (+7.6%). The Board of Directors proposes to raise the dividend from CHF 2.40 to CHF 2.65. Provided the positive financial market trend continues, VZ Group is expecting growth in 2013 to be stronger than in 2012.

The 2012 financial year was overshadowed by debt crises and gloomy economic outlooks. Financial markets were particularly turbulent during the first half of the year, which unsettled our clients. During the second half of the year, however, sentiment brightened, and we were able to slightly exceed the expectations for the financial year as a whole: in comparison to the previous year we increased net profit by 6.4% to CHF 54.3 million. Operating revenues totalled CHF 153.2 million (+6.8%), while operating costs rose to CHF 83.3 million (+7.6%).

Client numbers on the rise

With its consultancy and management services VZ Group is well established in the market and is continuously attracting new clients. The net inflow of new money totalled CHF 1.3 billion (previous year: CHF 1.0 billion), while assets under management grew from CHF 8.4 billion to CHF 10.1 billion. The services available on vzfinanzportal.ch enable the company to reach a significantly younger demographic in addition to its target segment of individuals aged 50 or over. This portal is an easy and intelligent platform for savings, investments and real-estate financing.

Low-risk balance sheet

In comparison with the previous year the balance sheet total remained virtually unchanged at CHF 1.038 billion at the end of the year. Because equity capital increased during the year under report, the equity ratio rose to 22.6% and the core capital ratio reached 29.5%. High equity capital combined with low balance sheet risks gives clients security. At the same time, it enables the company to continue growing organically in future.

Dividend 10 percent higher

The Board of Directors proposes to raise the dividend from CHF 2.40 to CHF 2.65. This means 39% of the net profit will be distributed (previous year: 38%). As in previous years, the retained profit is available to expand the company's services and to finance organic growth.

VZ creates new jobs

During the year under report alone VZ Group created an additional 60 jobs and employed more than 600 experts by the end of 2012. The company will continue to hire promising talents in the coming years as well in order to meet the growing demand.

Outlook

"Demand for our services is characterised by stable and steady growth", says Matthias Reinhart, VZ Group's Chief Executive Officer and Chairman of the Board of Directors. "Provided the positive financial market trend continues, we are expecting growth in 2013 to be stronger than in 2012".

Annual report

The detailed annual report as well as an investor presentation can be downloaded from VZ Group's website: www.vzch.com/Investor Relations.

Conference call

Media representatives and analysts are invited to discuss VZ Group's results this in one of today's teleconferences hosted by Matthias Reinhart (Chairman of the Board of Directors and Chief Executive Officer) and Philipp Marti (CFO). For details please get in touch with Nicola Waldmeier or Petra Märk:

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, performance, or achievements expressed or 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 up-date forward-looking statements or to adapt them to future events or developments.

VZ VermögensZentrum AG

VZ Group is an independent Swiss financial service company listed on the SIX Swiss Exchange. The company specialises in the areas of retirement planning and portfolio management for individuals as well as in insurance and pension fund management for companies. The services are focused on wealthy private clients aged 50 or older and on corporate clients with more than 20 employees. VZ does not sell any financial products of its own and is not a product broker. Instead, it is financed by consulting fees and management fees.

At the end of 2012, VZ managed client assets in the amount of 10.1 billion Swiss francs and an annual insurance premium volume in the amount of CHF 280 million. The group employs some 600 people.

VZ is headquartered in Zurich and has offices in Aarau, Baden, Basel, Bern, Fribourg, Chur, Geneva, Horgen, Lausanne, Liestal, Luzern, Meilen, Neuchâtel, Rapperswil, Rheinfelden, Schaffhausen, Solothurn, St. Gallen, Thun, Winterthur and Zug as well as in Munich, Düsseldorf, Frankfurt and Nuremberg.