As announced earlier this month, the Valartis Group posted a half-year profit of 8.6 million francs. This brings the international financial group back into the profit zone, after recording a net loss of 4.6 million francs in the same period last year.

Valartis has undergone numerous restructuring efforts that have positively influenced its business performance. For example, operating expenses decreased by 7 percent, from 4.2 million to 3.9 million francs. The financial group optimized operations and costs, particularly at its Russian subsidiaries. In addition, a foreign exchange gain of 3.9 million francs, resulting from the appreciation of all investment currencies against the franc, had a positive impact on the accounts.

Operating income increased by 16 percent compared to the previous year, while operating expenses decreased by 7 percent.

As of the end of the first half of the year, consolidated equity amounted to 101 million francs.

The outlook for the Valartis Group is therefore significantly better. The sale of a minority stake in Athris, a Swiss investment company, had no impact on the half-year results. In return, Valartis received shares and a cash payment. According to the financial group, the deal will result in a valuation gain in the single-digit million range and will be reflected in the full-year financial report.