Vontobel Holding AG (FRA:VTLN)

Full Year 2024 Vontobel Holding AG Earnings Call Transcript

Feb 7, 2025 / 08:30 AM GMT

Release Date Price: €47.98

Transcript

Key Points

Positve

Vontobel Holding AG (XSWX:VONN) reported a 32% increase in profit before taxes, reaching CHF 354 million, marking one of the best financial results in its history.
The company returned to positive net new money growth, with revenues increasing in both private and institutional client segments.
Vontobel Holding AG maintained a solid capital position with a CT1 ratio of 16.1%, well above the 12% target, allowing for an unchanged dividend proposal of CHF 3 per share.
Significant strategic progress was made, including two acquisitions that align with the company's strategy to enter private markets and strengthen its position with high net worth clients.
The efficiency program is on track, achieving exit rate savings of CHF 45 million, contributing to a cost-to-income ratio improvement to below 75%.

Negative

The company faced foreign exchange effects that resulted in a profit reduction of CHF 40 million due to a stronger CHF against the US dollar.
Institutional clients experienced outflows, particularly in emerging market strategies, which continue to face challenges.
The tax rate increased due to global minimum tax regulations and reduced participation exemptions, impacting profitability.
Interest income decreased by 36% due to reductions in Swiss interest rates and shifts in deposit mix, impacting overall revenue.
Despite improvements, the company still faces challenges in emerging markets, which remain unpopular among investors, affecting inflows.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

VONN.S - Vontobel Holding AG
Full Year 2024 Vontobel Holding AG Earnings Call
Feb 07, 2025 / 08:30AM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, welcome to the presentation of Pho Table's full year 2024 results webcast. I'm Sandra, the chorus co operator.

I would like to remind you that all participants have been listening on the mode and the conference is being recorded.

The presentation will be followed by a Q&A session. You can register for questions at any time by pressing star, and one on your telephone.

For operator assistance, please press star and 0. The content must not be recorded for publication or broadcast.

At this time, it's my pleasure to hand over to G Schubbier. Please go ahead, sir.

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