Warteck Invest with record result

Warteck Invest increased its consolidated result by 3.5 percent to CHF 15.1 million compared with the previous year, when the figure was CHF 14.6 million. The operating result (EBIT) in the past financial year was 26.6 million, an increase of 7.2 percent compared to the previous year (24.8 million).

According to the company, the result was boosted by increased rental income of 26.7 million (previous year: 25.1 million), a positive revaluation result for the properties and the reversal of provisions no longer required for the rental business (0.5 million).

Portfolio value increases significantly

The market value of Warteck Invest's real estate portfolio grew significantly in the reporting period. It increased by 74.9 million or 12.6 percent to 667.4 million. 3.4 million of this (previous year: 3.5 million) was attributable to the revaluation of properties, while the remaining increase in value was due to the acquisition of three existing properties and two new construction projects, as well as to investments in projects already underway.

The vacancy rate in the portfolio increased from 3.2 to 4.2 percent, although two properties alone account for 1.4 percentage points. Apart from these two properties, the portfolio has a vacancy rate of 2.3 percent, Warteck Invest said.

The gross return (target rental income in relation to market value) decreased to 5.0 percent (previous year: 5.3%). The net yield (gross yield less vacancies, bad debt losses, operating costs and maintenance) was 4.3 percent (4.5%) and the performance, which also takes into account the change in value, was 4.5 percent (5.2%).