Swiss financial services group Valartis reported a sharp decline in first-half earnings, with net profit falling 57% to CHF 3.7 million from CHF 8.6 million a year earlier. The result, disclosed on Tuesday, aligned with the company’s preliminary outlook issued a week prior.
The group attributed the drop primarily to the absence of one-off gains recorded in 2024, which had boosted the prior-year comparison. On an underlying basis, adjusted operating profit increased, supported by stable administrative costs. Total operating revenue fell 22% to CHF 5.5 million, driven largely by the prior year’s non-recurring liquidation gains.
Management fee income rose 15% to CHF 1.5 million, driven by additional transaction fees, while rental income and currency effects lifted real estate earnings 24% to CHF 2.6 million. Credit impairments, provisions and losses totaled CHF 2.8 million, with the group citing a negative valuation adjustment on a loan extended to its flower-sector joint venture as the main contributor.
Valartis did not provide full-year guidance but reaffirmed its focus on expanding profitable activities, including investments in domestic real estate projects and the shipping sector slated for 2025. The company is headquartered in Baar, Zug canton.
