Senior Residence: Rental Income and Profit in the Plus Zone
Senioresidenz AG reports a significant increase in profit and rental income for the first half of 2020.
According to preliminary, unaudited results, net rental income in the first half of 2020 increased by 142% to approximately CHF 4.3 million (previous year: 1.8 million), Senioresidenz reports. The increase was mainly due to acquisitions, it said: In the second half of 2019, the company acquired properties in Martigny and Richterswil, and with the transfer of ownership on January 1, 2020, a portfolio of six residential and care centers in Berg, Egnach, Kradolf, Kirchlindach, Reute and Wald was added. Meanwhile, the market valuation of the real estate portfolio had led to a negative result from revaluation of -0.1 million compared to +0.2 million in the prior-year period.
At EBIT level, Senioresidenz reported a profit of 3.0 million compared to 1.3 million in the previous year - an increase of almost 140%. According to the company's first preliminary figures, profit including revaluation result was around 2.1 million (previous year: 1.1 million) and profit excluding revaluation result was also around 2.1 million, compared with 0.9 million in the previous year.
The company plans to publish the full half-year report on August 20, 2020. (ah)
