The Swiss Market Update #1 - 2024/04/27

The Swiss Market Update - weekly

Roche reports quarterly results

Pharmaceutical firm Roche reported a 6% sales decrease in Q1 2024, to 14.4 billion francs, due to reduced earnings from Corona-related drugs and tests. Despite the dip, Roche expects a mid-single-digit percentage increase in sales and core earnings per share for 2024, and aims to raise the dividend in Swiss francs, with losses from generic competition expected to be lower than previous years.

Original article: https://www.srf.ch/news/wirtschaft/basler-pharmakonzern-roche-setzt-im-ersten-quartal-weniger-um-als-vor-einem-jahr

Also Novartis reports quarterly results

The Swiss pharmaceutical company Novartis made a profit of 2.7 billion USD in Q1 of 2024, a 10% increase from the previous year. Due to these figures, the company has increased its annual forecast, projecting higher revenue growth and an increase in core operational earnings; Giovanni Caforio will succeed Jörg Reinhardt as company president in 2025.

Original article: https://www.handelszeitung.ch/unternehmen/novartis-mit-mehr-gewinn-und-wechsel-im-prasidium-705060

The value of the Swiss National Bank’s holdings increased significantly

The Swiss National Bank (SNB) has posted a record quarterly profit of 59 billion Swiss francs, largely due to the weakening Swiss franc and a stock market boom. Despite the record profits, it is unlikely that SNB will be able to make a payout to the federal government and the cantons due to obligations and losses, mainly from increased yields on U.S. government bonds.

Original article: https://www.nzz.ch/wirtschaft/der-schwaechere-franken-verhilft-der-nationalbank-zu-einem-rekordgewinn-ld.1827926

AMS Osram reports a loss in the quarterly results

Semiconductor manufacturer AMS Osram reported lower results for Q1 2024 due to the cancellation of a major microLEDs project which led to restructuring and a loss of €35 million. The company anticipates improved cash flows and EBIT by 2025 after restructuring, with future focus on automotive applications, and expects sales of €770 to €870 million in the second quarter with improved business prospects in the latter half of the year.

Original article: https://www.cash.ch/news/top-news/ams-osram-im-ersten-quartal-mit-roten-zahlen-restrukturierung-706544