Fortimo Group exceeds billion mark
Fortimo Group AG reports a successful financial year 2020: According to the company, the real estate portfolio held in its own portfolio has increased to a volume of CHF 1.08 billion.
As Fortimo Group AG announces, sales in the reporting period amount to CHF 191 million (previous year: 167 million). Equity increased to CHF 410 million as of the end of 2020 (previous year: 344 million) and the properties held in Fortimo's portfolio exceeded the billion threshold for the first time as of December 31, 2020, at CHF 1,083 million (previous year: 851 million). The equity ratio is reported to be 34.5 percent (2019 37.7%).
According to management, the company is benefiting from strong demand for residential space, which has picked up again in Fortimo projects in both the rental and condominium sectors. The sale of condominiums was very encouraging in the past financial year. With a vacancy rate of less than 1 percent, Fortimo also considers itself well positioned in its rental apartments. After a record-high completion of 610 residential units in 2020, Fortimo's project pipeline "remains well filled thanks to promising acquisitions," it said.
Despite the early closure of ski resorts last spring due to the pandemic, tourism operations achieved record sales, management said. Fortimo opened one new resort in Adelboden BE and one in the center of Dubai UAE. (bw)