bfw liegenschaften presents figures for 2017
Last year, bwf liegenschaften achieved an EBIT of CHF 22.6 million and a profit of CHF 18 million.
Although bfw liegenschaften was unable to match the record result achieved in 2016, the company nevertheless speaks of a "very good result".
According to preliminary unaudited results, EBIT was 22.6 million (previous year: 27.3 million). Profit including revaluation gains and deferred taxes was 18 million, compared to 18.2 in 2016.
Income from rentals was around 0.2 million higher than the previous year's figure and amounted to 17.0 million. The market valuation of the real estate portfolio resulted in income from revaluation of 8.1 million (previous year: 13.2 million).
The fair value measurement of interest rate swaps and receiver swaptions resulted in a positive pre-tax effect of 2.6 million (previous year: -0.7 million) in the 2017 reporting year, taking into account the effects of these valuation differences. Excluding these fair value adjustments, profit was around 15.9 million (previous year: 18.7 million).
In the new year, bfw liegenschaften has already sold two properties at a profit: as of January 1 and February 1, two smaller residential properties in Sevelen (Arinstrasse 42) and Aristau (Steinistrasse 3/5, 7/9, 11/13) were sold for a total value of 14.1 million. This results in a one-off gain on sale of around two million for the 2018 reporting year. According to the company, the sales values achieved were 16 and 24 percent above the DCF property valuations as of December 31, 2017.
