Bellevue Group will publish its annual report for 2019 on 3 March 2020. Earlier the group announced the sale of Bank am Bellevue on 20 August 2019 as part of a strategic shift towards its successfulinternational asset management business. The transaction is scheduled to be completed in the first quarter of 2020.
Consequently, the reporting of its full-year results for 2019 will be based on the Group's continuing business activities as a standalone asset manager. The results of the discontinued business operations following the divestment of Bank am Bellevue will be presented in summary form only.
Based on the available, preliminary numbers, Bellevue Group expects assets under management at its continuing asset management activities to show a significant increase of 18.1% to CHF10.6bn. This leads to sharply higher operating income of CHF104m, an increase of more than 12% from the previous year. Operating profit forecasting to show an even greater increase of 30% to more than CHF39m. Due to non-recurring impairment losses of more than CHF11m, after-tax profit is expected to amount to CHF16m.
Preliminary Group net profit will be additionally impacted by one-off restructuring costs and impairment losses of CHF 8m in connection with the planned divestment of Bank am Bellevue and is therefore expected to amount to CHF 11m.
In keeping with its shareholder-friendly dividend policy, the Board of Directors will propose an ordinary dividend of CHF1.25 per share plus a special dividend of CHF2.75 per share at the Annual General Meeting of 24 March 2020. Bellevue Group is returning most of the proceeds from the sale of its stake in SIX to shareholders through the special cash dividend.