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Group Report

VFS GLOBAL

Visa services provider VFS Global → generated turnover of CHF 244 million in 2013. This represents nominal year-on-year growth of 19.0%, a very positive result which can be attributed to a strong increase in the number of visa applications processed. A total of 18 million applications were processed in 2013. In 2012 the figure was 15 million. Organic turnover growth came to 23.6%. With many emerging economies seeing their currencies weaken, negative currency effects came to – 4.6%. Operating earnings (EBIT) came to CHF 40.2 million, up 13.2% on the prior year (2012: CHF 35.5 million). Political upheavals delayed the opening of several application centres. In 2012 VFS Global won the major contract to provide visa services for the Kingdom of Saudi Arabia. The joint venture with a local partner is the biggest contract won by VFS Global so far in terms of both order volume and scope of services.

VFS GLOBAL TURNOVER SHARE BY SOURCE MARKETS AND DESTINATIONS

The most important source market for VFS Global is Asia/Pacific, accounting for 70% of turnover (2012: 72%). At 19%, the second most important source market is Europe. Its share of turnover has improved by one percentage point on the previous year. Russia and the UK are the most important source markets in this region. Europe, with 60%, is the most important holiday destination, with the UK generating the highest turnover in the region. Other top destinations for VFS Global are the USA, India and Spain. The destinations Europe and the Middle East/Africa increased their share of turnover by one percentage point year-on-year. Meanwhile, Asia/Pacific dropped three percentage points to 16% of total turnover. This is mainly because of a slight fall in the share of turnover generated by destinations in India. North America’s share remained at 17%.

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