Selected Key Figures

31.4 million

Net income excluding revaluation and
special effects as at December 31, 2019

2019 2018 %
Zug Estates Group
Operating revenue 1 TCHF 120 378 70 828 70.0%
Operating expenses TCHF 66 960 28 630 133.9%
Operating income before depreciation and revaluation TCHF 53 418 42 198 26.6%
Revaluation of investment properties (net) TCHF 19 552 11 082 76.4%
Income from sale of investment properties TCHF 998 0 n/a
Operating income (EBIT) TCHF 70 549 49 797 41.7%
Net income TCHF 76 046 38 811 95.9%
Net income excluding revaluation and special effects 2 TCHF 31 373 28 616 9.6%
Result from sale of promotional properties after tax 3 TCHF 6 792 0 n/a
Total assets TCHF 1 654 946 1 552 511 6.6%
Interest-bearing debt TCHF 597 443 554 546 7.7%
– Interest-bearing debt in % of total assets 36.1% 35.7%
– Average rate of interest of the interest-bearing debt (period) 1.4% 1.8%

Average maturigy of the interest-bearing debt

YEARS 5.2 5.4
Shareholders' equity TCHF 905 637 843 871 7.3%

Equity ratio

54.7% 54.4%

Return on equity 4

8.7% 4.7%
Headcount FTE 139.6 135.4 3.1%
Share
Closing price CHF 2 330 1 675 39.1%
Market capitalization 5 TCHF 1 188 300 854 250 39.1%
Earnings per series B registered share 6 CHF 149.11 76.35 95.3%
Earnings per series B registered share excluding revaluation and special effects 2, 6 CHF 61.52 56.29 9.3%
Distribution per series B registered share 8 CHF 31.00 28.00 10.7%
Special dividend promotional profit from Aglaya per series B registered share CHF 13.00 0.00 n/a
NAV at market value per series B registered share 5, 7 CHF 1 923.87 1 796.71 7.1%
Portfolio
Investment properties TCHF 1 478 364 1 273 724 16.1%
Investment properties under construction TCHF 31 402 140 739 - 77.7%
Undeveloped plots TCHF 2 524 2 524 0.0%
Total real estate portfolio TCHF 1 512 290 1 416 987 6.7%
Operating properties (market value) TCHF 118 250 118 705 - 0.4%
Total portfolio TCHF 1 630 540 1 535 692 6.2%
Property income TCHF 54 481 50 794 7.3%
Vacancy rate investment properties 9 3.3% 2.9%
Gross return investment properties 10 4.1% 4.2%

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 (see page 58, Annual Report 2019)

3Corresponds to the income from sale of promotional properties, deducted with the expenses incurred directly through the sale of proportional 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

10Projected rental income (annualized) as a percentage of the market value on the balance sheet date