Warteck Invest increases profit
Warteck Invest achieved a consolidated profit of CHF 27.4 million in the financial year 2021, which is 2.4% more than in the previous year.
2021 was a successful business year despite the ongoing Corona pandemic, Warteck Invest wrote in presenting its annual results. Net profit reached CHF 27.4 million (+2.4%), and excluding the effect from the revaluation of properties, profit was 17.4 million, up 5.6% on the previous year. As a result of investments in the portfolio and as a consequence of the revaluations, the market value of the real estate portfolio increased byTP4.312T or35.8 million to874.4 million (previous year:838.6 million).
Target rental income increased slightly by 0.4% to 36.9 million in the reporting year (previous year: 36.7 million). The increase was recorded despite rent reductions of 0.25 million due to Corona and isolated rent reductions in connection with the leasing of commercial and office space, Warteck Invest reports. The vacancy rate decreased from 3.0% to 2.4%. Rental income improved by 0.7% to 30.8 million (previous year: 30.6 million). At 39.0 million, EBIT was 2% higher than the previous year's figure of 38.2 million.
The consolidated result corresponds to earnings per share of CHF 110.80, or CHF 70.45 excluding revaluation effects. Warteck Invest puts the return on equity at 6.7%.
Well-filled pipeline
According to the real estate company, the projects are proceeding according to plan. The shell of the Syd residential and commercial building in Basel will be completed shortly, it said, after which interior work on the twelve-story building is scheduled to start. Completion is scheduled for January 2023. After deducting the building lease interest, Warteck Invest expects 2.1 million in annual rental income from the property.
In the case of the Binningerstrasse/Weiherweg residential development in Allschwil (BL), total replacement with simultaneous redensification of the site in two stages proved to be the most sustainable solution, the real estate company added. In 2021, a corresponding neighborhood plan procedure was started.
At the end of 2021, the neighborhood plans in Hagnau in Muttenz (BL) have become legally binding. Here, Warteck Invest is the owner of a 1,300 sqm building plot in the Hagnau-West perimeter. A residential and commercial building with a gross floor area of around 12,500 sqm could be realized there. The real estate company wants to develop a building permit project for this by 2024.
Warteck Invest is also planning the total renovation of properties in Basel and Suhr (AG) with a total of 130 apartments. According to the real estate company, the investments amount to 4.6 million in Basel and 13.1 million in Suhr. For the next five to seven years, the company has a pipeline consisting of a number of further increase, refurbishment and site development projects with a total volume of more than
Changes in the Board of Directors
Warteck Invest further announces that there will be changes in the Board of Directors: Dr. Ulrich Vischer does not wish to stand for re-election at the upcoming Annual General Meeting on May 18, 2022, due to reaching the age limit. At the same time, the Board of Directors is to be strengthened by one member in view of future growth and the project pipeline. Therefore, the Board of Directors proposes Tanja Temel and Dr. Roland Müller for election to the Board. Temel is an architect ETH SIA and owner of the architectural office ATT AG in Lucerne. Müller is a lawyer and notary and a partner in the Vischer law firm in Basel. He advises primarily on construction, real estate and corporate law. (ah)
