The healthcare-focused asset manager Bellevue Group reported a consolidated net profit of 1,9 million francs in 2025, compared with 9,2 million francs in the previous year. Due to the below-average performance of the healthcare sector, the depreciation of the dollar and net outflows, assets under management decreased by 9 percent over the course of the year to 5,3 billion francs, according to a media release issued on Tuesday.

As the average asset base was 23 percent lower than in the previous year, revenues fell by 25 percent to 52,6 million francs. Operating expenses were also significantly reduced; at 49,1 million francs, they were 16 percent lower than in 2024.

«Signs of Stabilization Toward the End of the Year»

The Board of Directors will propose a dividend of 0,15 francs per share at the Annual General Meeting on 24 March.

Veit de Maddalena, Executive Chairman of Bellevue Group, commented on the annual result as follows: «2025 was an extraordinarily challenging year for Bellevue Group. The result primarily reflects the weakness of the healthcare sector in the first half of the year, shaped by uncertainties surrounding drug pricing in the United States, tariff issues, patent expirations and the significant depreciation of the US dollar against the Swiss franc. Signs of stabilization only emerged toward the end of the year. Against this backdrop, we have consistently focused our business model on our core competencies and reduced our cost base.»

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