In the first half of 2025, the Valartis Group maintained its profit at 8.6 million Swiss francs, the same level as in the previous-year period, as the international financial group headquartered in Fribourg announced on Tuesday.  The group is active in financial services, real estate project management, and equity investments; its shares are listed on the SIX Swiss Exchange.

Income from management services remained virtually unchanged at 1.3 million francs, while investment properties achieved an increase from 1.7 million to 2.1 million francs.

Banque Cramer Makes a Contribution

Income from associated companies amounted to 1.6 million francs, significantly below the previous figure of 4 million francs. According to the statement, the main driver was the holding in Norinvest Holding SA, which was valued 1 million francs higher due to the positive result of Banque Cramer.

Since the sale of Valartis Bank and asset management to Geneva-based Banque Cramer in 2014, Valartis has held almost 30 percent of its owner, Norinvest.

Thanks to the liquidation of a subsidiary in March 2015, a liability of 2 million francs could be dissolved, which had a positive effect on other income.

Higher Expenses, Special Effects in Financial Income

Operating expenses rose by 5 percent to 4.1 million francs due to higher personnel as well as consulting and legal costs.

The half-year report mentions a foreign exchange gain of 5.8 million francs on the investment property and long-term receivable, offset by financial expenses of 6.3 million francs from the termination of a derivative contract. However, Valartis notes that this expense was «compensated by an equivalent gain from the successful renegotiation of an external investment facility.»