VZ Holding AG announces above-average growth for 2023

VZ Group saw significant growth in 2023, with its revenue increasing by 14.8% compared to 2022, reaching 463.8 million Swiss francs. This increase is largely attributed to fees for assets under management and an exceptional increase in banking revenues, driven by higher interest rates. Profit also saw a substantial increase of 23.5%, amounting to 187.0 million francs.

Strong demand for VZ Group's services continues to follow a long-term trend, supported by demographic developments and ongoing reforms of the Swiss pension system. VZ was able to expand its office network and advisory capacity, recording a 19.2% growth in advisory fees and welcoming 8,000 new clients. However, the volume of new capital decreased slightly compared to the previous year.

The company's balance sheet remains stable with capitalization well above the industry average, and management is proposing an increase in the dividend from 1.74 to 2.24 francs per share. The outlook for 2024 forecasts growth in line with the long-term average, with a particularly strong performance forecast for the first half of the year.

In addition, VZ Group plans to expand its board of directors by proposing two new members at the Annual General Meeting on April 8, 2024, aiming to strengthen its advisory capacity in the face of growing demand.