Plazza AG: More earnings and profit in prospect
For the 2018 financial year, Plazza, which is listed on the stock exchange, expects a significant increase in real estate income of around a quarter. The main driver is the first letting of apartments in Wallisellen.
According to Plazza, around half of the 218 apartments in the "Im Glattgarten" development in Wallisellen have already been let. The rental income will accrue after completion of the project on the former Swilac site at Industriestrasse 45 from mid-2018. The company also continues to focus on reducing vacant commercial space and expects "a noticeable, further increase in real estate income", according to a media release.
Accordingly, "a marked increase in profit before revaluation in the order of one third compared to 2017" is on the horizon for 2018. Plazza will publish its detailed annual results for 2017 with an updated outlook for 2018 on March 28, 2018.
In the 2017 financial year - as already reported in September with the half-year figures -. the operating result before depreciation and revaluation will be slightly above the previous year. In 2017, a large part of the vacant commercial space was leased again and the construction projects progressed according to plan, Plazza reports.
The real estate company, which has been listed on the SIX Swiss Exchange since June 2015, plans, realizes, manages and markets properties and real estate projects in this country. It manages an existing portfolio of residential and commercial properties with a focus on the Zurich economic area. In addition, there are development properties and projects in the economic centers of Zurich and Lausanne.
