Pressemitteilung BoxID: 293822 (VZ VermögensZentrum AG)
  • VZ VermögensZentrum AG
  • Beethovenstrasse 24
  • 8002 Zürich
  • Ansprechpartner
  • Petra Märk
  • +49 (4420) 727-27

VZ Group records satisfactory result in demanding market environment

(lifePR) (Zurich, ) VZ Group's operating revenues increased 8.0% relative to the previous year to reach CHF 143.5 million. At the same time, net profit rose 3.4% to CHF 51.0 million. The Board of Directors proposes an increase of the dividend from CHF 2.30 to CHF 2.40 per share. Due to the high volatility on the financial markets, forecasts for the current business year remain difficult. However, VZ expects a restrained but positive development for the 2012 financial year.

The 2011 financial year was characterised by debt crises, volatile financial markets and considerable shifts in exchange rates. Within this difficult environment VZ Group generated a net profit of CHF 51.0 million (+3.4%). Operating revenues reached CHF 143.5 million (+8.0%), while operating expenses rose to CHF 77.4 million (+12.0%).

More client contacts
VZ Group's 19 branch offices recorded a 4.2% rise in initial meetings. These contacts represent the basis for future consulting and management mandates. During the year under report the inflow of net new money amounted to CHF 1.0 billion (previous year: CHF 1.2 billion). Assets under management increased from CHF 7.8 billion to reach CHF 8.4 billion. The online services provided by the new financial portal perfectly supplement the existing services, and are recording growing user numbers.

Targeted workforce expansion
In the year under report VZ Group created 38 new jobs. As a result the size of the workforce rose 7.5% to reach 542 employees. Even in the current difficult environment VZ is determined to continue expanding its capacities in a targeted manner. This will enable the company to meet growing demand and to further widen the scope of services.

Solid balance sheet
The equity ratio remained unchanged at a robust 19.0%. In terms of risk-weighted assets, the core capital ratio was 26.1%. The balance sheet total grew from CHF 840 million to reach CHF 1'059 million relative to the end of 2010.

Slightly higher dividend proposed
The Board of Directors is proposing to raise the dividend from CHF 2.30 to CHF 2.40 per share. This means the distributed dividend corresponds to 38% of net profit. As in previous years, the retained profit is used to finance the future growth of the business.

"We are confident that our business is capable of posting above-average medium and long-term growth. Demand for our services remains strong, and the market is large", says Matthias Reinhart, Chairman of the Board of Directors and Chief Executive Officer. "An important share of our revenue streams is volume based, resulting in a delayed impact on our financial results. Therefore, we are expecting a restrained but positive development for the 2012 financial year: If financial markets continue to stabilise, this will be reflected in our revenues in the second half of 2012 at the earliest."

Annual report
The detailed annual report as well as an investor presentation can be downloaded from VZ Group's website: Relations.

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 2011, VZ managed client assets in the amount of 8.4 billion Swiss francs and an annual insurance premium volume in the amount of CHF 276 million. The group employs about 550 people. VZ is headquartered in Zurich and has offices in Aarau, Baden, Basel, Bern, Geneva, Horgen, Lausanne, Luzern, Liestal, Neuchâtel, Meilen, Rapperswil, Schaffhausen, St. Gallen, Thun, Winterthur and Zug as well as in Munich, Düsseldorf, Frankfurt and Nuremberg.