Aduno Group becomes Viseca
Zurich, 28 August 2020
COVID-19 has dampened the outlook for 2020. The Aduno Group’s sales as well as consolidated earnings were significantly below those of the previous year as of 30 June. The card portfolio, on the other hand, showed gratifyingly positive growth, reaching a new high with a little over 1.7 million payment cards. As part of the strategic focus on the card business, Aduno Holding became Viseca Holding on 18 June 2020. In the second half of the year, the company will be divided into an issuing and a processing business as planned.
The first semester of 2020 was dominated by the coronavirus pandemic. Viseca Holding’s consolidated turnover fell by 32.4 percent from CHF 281.3 million to CHF 190.2 million compared to the same period in the previous year. This corresponds to a decrease of CHF 91.1 million, with CHF 50.3 million that can be attributed to the sale of cashgate AG. Consequently, Viseca Holding's consolidated earnings decreased to CHF -11.8 million in the first half of 2020 (2019: CHF 34.3 million, CHF 8.5 million of which from the former subsidiary cashgate).
Card portfolio continues to grow
The card portfolio amounted to just over 1.7 million cards as of 30 June 2020, which corresponds to a 6.0 percent increase compared to the previous year. The migration of the myOne customer card to Manor World Mastercard® contributed to this, among other things. Not only did we expand our card portfolio with the launch, but we were also able to tap into the important retail trade as a second pillar in addition to customer banks.
After the lockdown was eased, Swiss consumers showed above-average spending behaviour, which was reflected in a significant increase in turnover. Starting from the middle of June, there was also an improvement in business within the Euro zone, but still below the level of the previous year. Outside of Europe, however, there has been no recovery so far. This is not expected to change significantly in the coming months. The annual result will be significantly lower than that of the previous year.
The full online version of the 2020 half year report is available at reports.viseca.ch