Fundamenta Real Estate with record profit
Fundamenta Real Estate AG reports a net profit of CHF 14.21 million for the financial year. This is an increase of almost 40 percent over the previous year and a new record figure.
Fundamenta Real Estate AG expanded its real estate portfolio to a market value of around CHF 509 million in the 2016 financial year through the acquisition of seven portfolio properties. Rental income from properties therefore increased by 13.5 percent to 19.37 million. In this context, 91.5 percent of rental income came from residential use. At 6.3 percent, the vacancy rate of the real estate portfolio was at the previous year's level, Fundamenta reports.
The revaluation of the existing portfolio by JLL resulted in a valuation gain (before deferred taxes) of 8.61 million, according to a company statement. This corresponds to an increase of 67.4 percent compared to the previous year.
Net profit increased to a new record of 14.21 million. This is an increase of 39.6 percent compared to the previous year (10.18 million). At 7.35 million, operating net profit (excluding revaluation effect) exceeded the previous year's result by a good 20 percent.
