Selected Key Figures

Selected financial highlights for the Zug Estates Group

15.4 million

Net income excluding revaluation and special
effects as at 30 June 2021

Income statement

  H1 2021H1 2020
Property income TCHF 29 765 28 195 5.6%

Operating revenue1

TCHF 36 140 105 426 -65.7%

Operating expenses

TCHF 13 322 77 115 -82.7%

Operating income before depreciation and revaluation

TCHF 22 818 28 311 -19.4%

Revaluation of investment properties (net)

TCHF 12 269 -13 612 190.1%

Income from sale of investment properties

TCHF 7 317 0 n/a

Operating income (EBIT)

TCHF 40 639 12 883 215.4%

Net income

TCHF 32 663 8 273 294.8%

Net income excluding revaluation and special effects2

TCHF 15 427 11 900 29.6%
Result from sale of promotional properties after tax3 TCHF 0 8 351 -100.0%

Balance Sheet

  30.06.202131.12.2020

Total assets

TCHF 1 631 356 1 626 245 0.3%

Interest-bearing debt

TCHF 581 433 591 770 -1.7%

- Interest-bearing debt in % of Total assets

  35.6% 36.4%
- Average rate of interest of the interest-bearing dept (period) 1.3% 1.3%
- Average maturity of the interest-bearing debt YEARS 3.9 4.3

Shareholders’ equity

TCHF 925 680 915 457 1.1%

- Equity ratio

  56.7% 56.3%

Employees

  30.06.202031.12.2020

Headcount

FTE 116.0 128.1 -9.4%

Share

  H1 2021H1 2020

Closing price

CHF 1 990 2 010 -1.0%

Market capitalization4

TCHF 1 014 900 1 025 100 -1.0%

Earnings per series B registered share5

CHF 64.0 16.2 294.8%

Earnings per series B registered share
excl. revaluation2, 5

CHF 30.2 23.3 29.6%

NAV at market value per series B registered share B5, 6

CHF 1 947.9 1 895.9 2.7%

Portfolio

  30.06.202131.12.2020

Investment properties

TCHF 1 549 987 1 534 432 1.0%

Investment properties under construction

TCHF 10 638 9 794 8.6%

Undeveloped plots

TCHF 2 524 2 524 0.0%

Total real estate portfolio

TCHF 1 563 149 1 546 750 1.1%

Operating properties (market value)7

TCHF 108 110 108 110 0.0%

Total portfolio

TCHF 1 671 259 1 654 860 1.0%

Vacancy rate investment properties8

  4.8% 5.0%

Gross return investment properties9

  4.0% 4.1%
Weighted average unexpired lease term of rental contracts in portfolio (WAULT) YEARS 6.5 6.8
Average discount rate (nominal) 3.4% 3.5%

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

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