HIAG presents half-year figures
In the first half of 2015, HIAG Immobilien AG increased its property income by 7.4 percent year-on-year to CHF 25.1 million. At the operating level, the company reported Ebitda of CHF 30.4 million, slightly below the previous year's figure (30.9 million). Corporate profit reached CHF 24.2 million, compared to CHF 24.6 million in the same period last year. Earnings per share amounted to CHF 3.02 (previous year: CHF 3.44).
Revaluation effects were equivalent to CHF 15.2 million in the first half of the year, compared with CHF 16.2 million in the same period last year, the company announced on Tuesday.
Operating income before revaluation effects increased by nine percent year-on-year to CHF 26.2 million. The property portfolio, consisting of 115 properties, was valued at CHF 1.2 billion on the reporting date of June 30, 2015.
The vacancy rate in the overall portfolio was reduced by 1.7 percentage points to 16.3 percent in the reporting period (December 31, 2014: 18%). At 5.4 percent, the net return on investment in the existing portfolio remained at the prior-year level (December 31, 2014: 5.4%).
As of June 30, the equity ratio was 53.9 percent; on an EPRA (European Public Real Estate Association) basis, the figure was 58.9 percent.
HIAG Immobilien expects property income excluding acquisitions to increase by around four percent and operating income (excluding changes in value and acquisitions) to increase by around six percent in the 2015 business year. (ah)
