TX Group's investment in the now-insolvent Lykke crypto exchange has turned into a complete loss, with the publishing house's 2 million franc stake in Lykke Coins written off entirely. Despite still holding the worthless tokens, TX Ventures no longer lists Lykke as a portfolio company, as it only holds tokens and not shares. The situation worsened for Lykke after a significant cyber attack in 2022, leading to a loss of 22 million francs in cryptocurrency assets.
Dominique Gerster, a seasoned communicator with nearly two decades at UBS and Credit Suisse, will join the Zurich consultancy IRF as a partner in November 2024. He brings extensive experience in corporate communications, crisis management, and strategic messaging, having led global communications at Credit Suisse during challenging times. Gerster holds a Master's degree in law and is pursuing an Executive MBA at the University of St. Gallen, set to complete in early 2025.
Luzerner Kantonalbank has demonstrated steady dividend growth over the past decade, supported by a manageable payout ratio of 46.5% and a net profit of CHF 144.73 million in the first half of 2024. With a dividend yield of 3.89%, it remains a stable option for investors, despite being below the top Swiss payers. Recent valuations suggest potential undervaluation of its shares in the market.
Weak trading in Zurich saw the SPI index drop 0.20% to 16,290.51 points at the start of Monday, with a market capitalization of €2.200 trillion. The index has risen 11.81% since the beginning of 2024, with a high of 16,557.98 points and a low of 14,455.60 points this year. Curatis led gains with a 6.86% increase, while Meyer Burger Technology faced the largest decline at -10.98%.
Burkhalter Holding AG, with a market cap of CHF 937.29 million, offers electrical engineering services and boasts a 5% dividend yield, placing it among the top Swiss dividend payers. Despite a volatile track record, recent results show sales growth to CHF 570.3 million and a net profit of CHF 23.3 million. Romande Energie Holding SA, valued at CHF 1.23 billion, operates in energy production and distribution, with a stable dividend yield of 3% but concerns over sustainability due to low free cash flow coverage.
Luzerner Kantonalbank offers a stable dividend yield of 4.06%, supported by a solid payout ratio of 46.5% and an increase in net profit to CHF 144.73 million in H1 2024. Meanwhile, Phoenix Mecano, with a higher yield of 6.4%, faces sustainability challenges due to a cash payout ratio of 118.5% and declining sales.
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