jeu, Avr 4th 2024
HBM Healthcare Investments closes the fiscal year with a significant quarterly profit of CHF 156 million and a NAV jump to CHF 248.10.
HBM Healthcare Investments has demonstrated a strong financial turnaround in the last quarter of the fiscal year 2023/24, recording a substantial profit of CHF 156 million according to claims made by a press release.
As of March 31, 2024, the Net Asset Value (NAV) per share experienced a notable increase of 10.3%, reaching CHF 248.10.
The weakening of the Swiss Franc during the quarter, following a notable appreciation in the earlier months of the fiscal year, played a critical role in this financial rebound.
The company’s publicly listed investments added positively to the results, while write-downs on private companies slightly impacted the overall performance.
Despite the challenges faced in the earlier part of the year, HBM Healthcare Investments concluded the fiscal year with a balanced outcome. The minor increase in NAV by 0.3% is indicative of a stable financial position, despite anticipating a slight annual loss of around CHF 1 million.
The company repurchased approximately 89,000 of its own shares for CHF 15.6 million through a secondary trading line. These shares, acquired at an average discount of 30% to the NAV, are slated for cancellation at an upcoming general meeting.
The annual performance was buoyed by the listed companies within the portfolio, which contributed a 5.7% increase. This is notable despite the underwhelming stock performance of Cathay Biotech, the largest listed investment in the portfolio.
As of the end of March 2024, HBM Healthcare Investments’ net assets stood at CHF 1.7 billion, with allocations spread across liquid assets (12%), publicly listed companies (45%), private companies (38%), fund investments (10%), and other assets (2%).
HBM Healthcare Investments, headquartered in Zug, Switzerland, is a leading investor in the healthcare sector. The company manages a diversified international portfolio comprising promising companies in human medicine, biotechnology, medical technology, diagnostics, and related fields.
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