Selected Key Figures
11.9 million
Net income excluding revaluation and special
effects as at June 30, 2020
Income statement | H1 2020 | H1 2019 | ||
| Property income | TCHF | 28 195 | 26 744 | 5.4% |
Operating revenue1 | TCHF | 105 426 | 36 721 | 187.1% |
Operating expenses | TCHF | 77 115 | 14 715 | 424.1% |
Operating income before depreciation and revaluation | TCHF | 28 311 | 22 006 | 28.7% |
Revaluation of investment properties (net) | TCHF | -13 612 | 11 513 | -218.2% |
Income from sale of investment properties | TCHF | 0 | 982 | n/a |
Operating income EBIT | TCHF | 12 883 | 32 848 | -60.8% |
Net income | TCHF | 8 273 | 26 084 | -68.3% |
Net income excluding revaluation and special effects2 | TCHF | 11 900 | 15 401 | -22.7% |
| Result from sale of promotional properties after tax3 | TCHF | 8 351 | 0 | n/a |
Balance Sheet | 30.06.2020 | 31.12.2019 | ||
Total assets | TCHF | 1 601 754 | 1 654 946 | -3.2% |
Interest-bearing debt | TCHF | 587 106 | 597 443 | -1.7% |
- Interest-bearing debt in % of Total assets | 36.7% | 36.1% | ||
| - Average rate of interest of the interest-bearing dept (period) | 1.3% | 1.4% | ||
| - Average maturity of the interest-bearing debt | YEARS | 4.8 | 5.2 | |
Shareholders’ equity | TCHF | 891 470 | 905 637 | -1.6% |
- Equity ratio | 55.7% | 54.7% | ||
Employees | 30.06.2019 | 31.12.2019 | ||
Headcount | FTE | 140.2 | 139.6 | 0.4% |
Share | H1 2020 | H1 2019 | ||
Closing price | CHF | 2 010 | 1 820 | 10.4% |
Market capitalization4 | TCHF | 1 025 100 | 928 200 | 10.4% |
Earnings per series B registered share5 | CHF | 16.2 | 51.1 | -68.3% |
Earnings per series B registered share | CHF | 23.3 | 30.2 | -22.7% |
NAV at market value per series B registered share B5, 6 | CHF | 1 895.9 | 1 821.2 | 4.1% |
Portfolio | 30.06.2020 | 31.12.2019 | ||
Investment properties | TCHF | 1 504 460 | 1 478 364 | 1.8% |
Investment properties under construction | TCHF | 7 811 | 31 402 | -75.1% |
Undeveloped plots | TCHF | 2 524 | 2 524 | 0.0% |
Total real estate portfolio | TCHF | 1 514 795 | 1 512 290 | 0.2% |
Operating properties (market value)7 | TCHF | 118 250 | 118 250 | 0.0% |
Total portfolio | TCHF | 1 633 045 | 1 630 540 | 0.2% |
Vacancy rate investment properties8 | 5.3% | 3.3% | ||
Gross return investment properties9 | 431% | 4.1% | ||
| Weighted average unexpired lease term of rental contracts in portfolio (WAULT) | YEARS | 6.7 | 6.8 | |
| Average discount rate (nominal) | 3.6% | 3.6% |
1Excluding income from revaluation of investment properties and gains on the sale of investment properties
2Corresponds to net income excluding income from revaluation of investment properties (net), excluding income from the disposal of investment and promotional properties and corresponding deferred taxes as well as the effect of adjustments made to deferred tax rates
3Corresponds to the income from the sale of promotional properties, less expenses incurred directly through the sale of promotional properties and corresponding deferred taxes
4 In relation to number of shares outstanding (series A registered shares converted)
5In relation to number of shares on average outstanding (series A registered shares converted)
6NAV at market value per share includes properties used for operational purposes at market value and corresponding deferred taxes
7Operational properties are revaluated on a yearly basis at financial year-end
8As at the balance sheet date, as a percentage of projected rental income
9Projected rental income (annualized) as a percentage of the market value on the balance sheet date
