Financial Report
Real estate portfolio, Property income, Net income
Real estate portfolio in TCHF
Property income in TCHF
Net income
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 |
- 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% |
- 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% |
- Restated due to changes in accounting policies
- 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 |