La Foncière: Total assets increase to 1.54 billion
The La Foncière real estate fund holds properties with a market value of around CHF 1.54 billion in its portfolio at the end of the 2019/20 financial year. This is 5.4% more than in the previous year.
As reported by Investissements Fonciers, the net assets of La Foncière amount to CHF 1.23 billion after CHF 1.06 billion in the previous year. The net asset value is CHF 90.10 (PY: CHF 85.90; +4.89%).
The rental loss rate is estimated at 2.41%. Rent losses related to the Corona pandemic amounted to 0.98% of recoverable rental income. Overall, the Fund's rental income was stable at 81.31 million. According to Investissements Fonciers, the loss of profit from properties that were temporarily unrented amounted to 0.52% of annual income (PY: 0.74%).
The operating profit margin (EBIT margin) is reported to be 51.62%, and the fund operating expense ratio (TERREF GAV) is 0.71%. Return on equity (ROE) is put at 7.38% and return on invested capital (ROIC) at 5.74%.
The dividend for the financial year ending September 30, 2020, will increase by 3 centimes to CHF 2.20 per share. (ah)
