Selected Key Figures
25.9 million
Net income excluding revaluation and special
effects as at December 31, 2020
Income statement | 2020 | 2019 | ||
| Property income | TCHF | 57 782 | 54 481 | 6.1% |
Operating revenue1 | TCHF | 140 394 | 120 378 | 16.6% |
Operating expenses | TCHF | 90 825 | 66 960 | 35.6% |
Operating income before depreciation and revaluation | TCHF | 49 569 | 53 418 | -7.2% |
Revaluation of investment properties (net) | TCHF | -2 224 | 19 552 | -111.4% |
Income from sale of investment properties | TCHF | 0 | 998 | -100.0% |
Operating income EBIT | TCHF | 43 749 | 70 549 | -38.0% |
Net income | TCHF | 32 260 | 76 046 | -57.6% |
Net income excluding revaluation and special effects2 | TCHF | 25 866 | 31 373 | -17.6% |
| Result from sale of promotional properties after tax3 | TCHF | 8 351 | 6 792 | 23.0% |
Balance Sheet | 31.12.2020 | 31.12.2019 | ||
Total assets | TCHF | 1 626 245 | 1 654 946 | -1.7% |
Interest-bearing debt | TCHF | 591 770 | 597 443 | -0.9% |
- Interest-bearing debt in % of Total assets | 36.4% | 36.1% | ||
| - Average rate of interest of the interest-bearing dept (period) | 1.3% | 1.4% | ||
| - Average maturity of the interest-bearing debt | YEARS | 4.3 | 5.2 | |
Shareholders’ equity | TCHF | 915 457 | 905 637 | 1.1% |
- Equity ratio | 56.3% | 54.7% | ||
| - Return on equity4 | 3.5% | 8.7% | ||
Employees | 31.12.2020 | 31.12.2019 | ||
Headcount | FTE | 128.1 | 139.6 | -8.2% |
Share | 2020 | 2019 | ||
Closing price | CHF | 2 030 | 2 330 | -12.9% |
Market capitalization5 | TCHF | 1 035 300 | 1 188 300 | -12.9% |
Earnings per series B registered share6 | CHF | 63.25 | 149.11 | -57.6% |
Earnings per series B registered share | CHF | 50.72 | 61.52 | -17.6% |
| Distribution per series B registered share8 | CHF | 34.00 | 31.00 | 9.7% |
| Special dividend promotional profit from Aglaya per series B registered share8 | CHF | 10.00 | 13.00 | -23.1% |
NAV at market value per series B registered share B5, 7 | CHF | 1 926.36 | 1 923.87 | 0.1% |
Portfolio | 31.12.2020 | 31.12.2019 | ||
Investment properties | TCHF | 1 534 432 | 1 478 364 | 3.8% |
Investment properties under construction | TCHF | 9 794 | 31 402 | -68.8% |
Undeveloped plots | TCHF | 2 524 | 2 524 | 0.0% |
Total real estate portfolio | TCHF | 1 546 750 | 1 512 290 | 2.3% |
Operating properties (market value)7 | TCHF | 108 110 | 118 250 | -8.6% |
Total portfolio | TCHF | 1 654 860 | 1 630 540 | 1.5% |
Vacancy rate investment properties9 | 5.0% | 3.3% | ||
Gross return investment properties10 | 4.1% | 4.1% | ||
| Weighted average unexpired lease term of rental contracts in portfolio (WAULT) | YEARS | 6.8 | 6.8 | |
| Average discount rate (nominal) | 3.5% | 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
4In relation to average shareholders' equity
5In relation to number of shares outstanding (series A registered shares converted)
6In relation to number of shares on average outstanding (series A registered shares converted)
7NAV at market value per share includes properties used for operational purposes at market value and corresponding deferred taxes
8Proposed by board of directors
9As at the balance sheet date, as a percentage of projected rental income
10 Projected rental income (annualized) as a percentage of the market value on the balance sheet date
