Financial Report

Real estate portfolio, Property income, Net income

Real estate portfolio in TCHF

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Property income in TCHF

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Net income

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Key financial figures

 
in TCHF
 
H1 20
Restated
H1 19¹
Property income 29,472 29,731
Revaluation of properties 17,694 –26,015
Earnings before interest, taxes, depreciation and amortisation (EBITDA) 30,035 –45,096
Net income 22,062 –43,364
Cash flow from operating activities incl. sales promotion 10,022 –6,252
 
in TCHF
 
30.06.2020
 
31.12.2019
Cash and cash equivalents 21,456 23,933
Shareholders’ equity 694,449 672,085
Equity ratio 41.2% 41.3%
LTV ratio 51.4% 51.4%
Balance sheet total 1,686,382 1,628,641
Employee headcount 103 107
– thereof real estate 56 51
– thereof Pratteln site 23 23
– thereof cloud services 12 20
– thereof Jaeger et Bosshard SA 12 13
  1. Restated due to changes in accounting policies

Portfolio key figures

in TCHF 30.06.2020 31.12.2019
Real estate portfolio 1,662,670 1,571,676
Yielding portfolio 1,056,401 1,053,441
Development portfolio 566,269 518,235
Real estate portfolio (number of real estate properties) 118 116
Number of redevelopment properties 48 45
Investments in real estate 39,395 103,516
Annualised rental income in CHF million 58.9 58.7
Vacancy rate for yielding properties 13.3% 14.4%
Vacancy rate for yielding properties
undergoing repositioning¹
37% 40.9%
Vacancy rate for redevelopment properties 16.7% 13.7%
  1. Properties Mandachstrasse 50 – 56 ZH and Sternenfeldpark 14 BL

EPRA key figures

 
in TCHF
 
H1 20
Restated
H1 19¹
Adjusted EPRA Earnings 11,150 –5,249
 
in TCHF
 
30.06.2020
 
31.12.2019
EPRA NAV 767,054 741,923
 
in %
 
30.06.2020
Restated
31.12.2019¹
Equity ratio according to EPRA NAV 45.5% 45.6%
EPRA vacancy rate 15.2% 16.6%
Adjusted EPRA vacancy rate
(excl. investment properties undergoing repositioning)²
13.3% 14.4%
Adjusted EPRA cost ratio
(yielding portfolio incl. direct vacancy rate)
25.3% 22.7%
Adjusted EPRA cost ratio
(yielding portfolio excl. direct vacancy rate)
24.1% 21.8%
  1. Restated due to changes in accounting policies
  2. Properties Mandachstrasse 50 – 56 ZH and Sternenfeldpark 14 BL

Key figures per share

in CHF 31.12.2019 31.12.2018
Earnings per share (EPS) 2.76 −5.42
Earnings per share without revaluation of properties 0.55 −2.17
 
in CHF
 
30.06.2020
 
31.12.2019
Shareholders’ equity (NAV) per outstanding registered share, before deferred taxes 95.84 92.60
Shareholders’ equity (NAV) per outstanding registered share, after deferred taxes 86.77 84.01