HIAG increases earnings
The site developer HIAG increased its property income and earnings before taxes and revaluation in the 2016 financial year compared with the previous year.
As HIAG reports, property income collected increased from CHF 51.2 million in the 2015 business year to CHF 52.4 million last year. Earnings before taxes and revaluation rose from 28.3 to 30.7 million.
Earnings (EBT) per share before revaluation increased by 8.1 percent to CHF 3.84 (previous year: 3.54). At 20 million, revaluation effects were around 11.5 million below the prior-year figure (December 31, 2015: 31.5 million). At 30.5 million, profit according to EPRA was eight percent above the comparable period.
As of the reporting date, HIAG's portfolio comprised around 350,000 sqm of usable space. The vacancy rate in the overall portfolio declined slightly and was most recently 15.3 percent (previous year: 16%) or 15.2 percent on a like-for-like basis. On the reporting date, the overall portfolio consisted of 112 properties valued at 1.24 billion.
The development portfolio comprised 50 projects with around 639,000 sqm of usable space. According to the company, the expected investment volume is around 1.8 billion. Of these, nine development projects with a total floor space of around 77,200 sqm and an investment volume of 246.5 million are to be launched in the next three years, HIAG announces.
