Zug Estates: Group result rises
Zug Estates increased its operating profit before depreciation and revaluation by five percent to CHF 39.6 million in the 2015 financial year.
Income from revaluation of investment properties (net) increased by CHF 29.3 million to CHF 50.6 million compared with the same period of the previous year. Taking into account investments and land consolidation totalling 46.9 million, as well as the sale of properties with a market value of 26.7 million, the market value of the Zug Estates Group portfolio as at 31 December 2015 was 1.2 billion, up seven percent on the previous year.
As Zug Estates writes in a media release, the positioning of the Suurstoffi site in Risch-Rotkreuz as a residential and business location, the completion of the second stage of the Suurstoffi development on schedule and successes in letting have contributed significantly to the revaluation success.
Tobias Achermann, CEO of the Group, says: "Our properties have above-average location and property qualities. In addition, the portfolio has an extremely balanced mix of uses with a residential share of around 30 percent and significant development reserves that we will successively realise in the coming years."
Due to the good operating result and the high profit from the revaluation of investment properties, the consolidated result for 2015 will be significantly higher than the previous year's figure of CHF 45.1 million at over CHF 67 million, Zug Estates further announces. (ah)
