Procimmo fund Immo56 increases rental income
In the first half of the current fiscal year, Procimmo's Immo56 real estate fund increased rental income by 7.7% and also increased overall profit.
According to Procimmo, the fund Immobilier-CH pour Institutionnels 56j (Immo56) closed the first half of the current fiscal year, which ended on September 30, 2020, with a total income of approximately CHF 8.59 million (previous year: approximately 7.74 million).
Rental income increased byTP2T 7.71 to 9.98 million. The vacancy rate (excluding vacancies due to construction work) is put at 3.04% of target rental income. The rent default rate decreased from 4.00% to 3.90% compared to the previous year.
Total income of around 10.39 million (previous year: 9.87 million) was offset by total expenses of 4.92 million (previous year: 4.49 million). Net fund assets amount to 283.4 million and total fund assets to 462.8 million.
The EBIT margin was 64.17% (previous year: 68.19%), the return on equity (ROE) increased from 4.70% to 5.95% and the return on investment over twelve months also increased to 6.18% (previous year: 4.87%). The leverage ratio is 37.44% (PY: 35.33%). The TER ref (GAV) decreases slightly from 0.88% to 0.87%.
For the second half of the year, Immo56 expects rental income to rise despite the Corona crisis; it is expected to exceed 19.5 million. (ah)
