bfw liegenschaften: EBIT rises to 19.5 million
According to preliminary and unaudited results, bfw liegenschaften ag generated a profit at EBIT level of CHF 19.5 million in the 2015 financial year, compared with CHF 14.1 million in the previous year.
The fair value measurement of the interest rate swaps and receiver swaptions resulted in a negative effect before tax of CHF 2.9 million. Taking this effect into account, profit including revaluation and attributable deferred taxes amounted to 10.2 million (previous year: 2.8 million). Excluding the fair value adjustments of the interest rate swaps and receiver swaptions, profit was 12.6 million (previous year: 9.1 million).
Net rental income rose by 17 percent to CHF 19.1 million, while net rental income increased by 22 percent to CHF 15.9 million. The increases were mainly a result of the property in Zurich (Hönggerstrasse 40/Röschibachstrasse 22), which was added to the portfolio in January 2015, and the new construction projects completed during the 2015 financial year, bfw liegenschaften wrote in a statement.
The market valuation of the real estate portfolio resulted in income from revaluation of 6.4 million (previous year: 3.6 million). This increase was mainly due to a reduction in the discount rates for residential and residential/commercial properties by the independent real estate appraiser KPMG, as well as to the development of the conversion projects and the completion of the new construction projects.
The company will publish the annual report and further details on the 2015 annual results on March 16, 2016. (ah)
