Acron Helvetia I: Profit more than doubled
The real estate fund Acron Helvetia I achieved a profit of CHF 758,555 in the past financial year, which is more than twice as much as in the previous year, when the profit was 315,235.
According to Acron, the positive annual result of Acron Helvetia I was significantly influenced by the favorable financial result and the lower valuation adjustment on the properties of -250,000 CHF (previous year: -560,000). The fund holds the Waser office and logistics property in Buchs (ZH) and the Südpark Solothurn office property. Rental income of CHF 1.96 million is on par with the previous year, Acron added.
Based on the new valuation report as of December 31, 2016, the balance sheet value of the office property in Solothurn was reportedly set at 12.98 million and reduced by 230,000 compared to the value at the end of 2015. That of the office and logistics property in Buchs/Zurich was valued at 15.65 million, 20,000 lower than in the previous year.
Financial expenses were 254,515, significantly lower than the previous year's 520,678, Acron said. As a result, the average interest rate on the mortgage loan was 1.1 percent p.a. (previous year: 2.3 percent p.a.), it added. The company further reduced its mortgage debt, bringing its leverage ratio down to 78.10 percent from 79.41 percent at the end of fiscal 2015.
The net asset value of the company after deferred taxes was CHF 8.33/share as of December 31, 2016 (previous year: 7.95).
Acron Helvetia I has held the Lyreco office and logistics property in Buchs (ZH) since December 2007. On January 1, 2009, the company merged with Südpark Zuchwilerstrasse Immobilien AG. Since then, it has held the office property Südpark Solothurn as a second investment property. Since September 2009 the shares of the company are listed on the BX Berne eXchange.
