Procimmo Swiss Commercial presents annual results
Procimmo Swiss Commercial Fund achieved a net profit of CHF 24.4 million in the past financial year. Rental income increased by almost two million to CHF 52.9 million compared to the previous year. The return on investment is 4.95 percent.
As of June 30, 2015, the net asset value (NAV) per unit was CHF 127.80, slightly higher than the previous year (CHF 127.50). Although the rent default rate rose slightly to 14.72 percent (2014: 14%), rental income increased, in particular due to the letting of additional space, Procimmo reports.
Shareholders' equity reached around CHF 617 million and non-current assets CHF 902.5 million. Both figures were thus slightly higher than in the previous year (615.7 million and 900 million). The TER REF (GAV) fell slightly year-on-year from 1.04 to 1.02 percent. In the medium to long term, Procimmo is targeting a TER of 0.9 percent for this fund.
A dividend of CHF 5.10 was distributed.
The Procimmo Swiss Commercial Fund invests mainly in commercial properties, industrial buildings, commercial and administrative buildings and flexible warehouses in Switzerland. (ah)
