bfw liegenschaften reports record result

bfw liegenschaften ag posted EBIT of CHF 27.3 million, up from CHF 19.5 million in 2015, while profit including revaluation gains rose from CHF 10.2 million to CHF 18.2 million. According to the company, this is the highest EBIT and profit in the company's history. Excluding the fair value adjustments of interest rate swaps and receiver swaptions, profit was 18.7 million (2015: 12.6 million).

The value of the real estate portfolio increased by 5.6 percent to 424.4 million in the reporting year (2015: 401.9 million). The main reasons for the increase cited by bfw were the development of a conversion project in Weinfelden, the completion of a conversion project in Zurich, and positive valuation effects amounting to 13.2 million.

Net rental income increased by 6.4 percent to 20.4 million in the 2016 reporting year (2015: 19.1 million), with around three-quarters of the income coming from residential use.

The vacancy rate excluding conversion projects was 7.1 percent, up only minimally from 2015 (7.0%).