Fortimo increases turnover and property portfolio
The real estate company Fortimo Group from St. Gallen significantly increased its property portfolio and equity in the financial year. Sales also increased.
Fortimo Group AG generated sales of CHF 206.3 million in the past year compared to CHF 117.4 million in the previous year. Shareholders' equity was 201.2 million as of December 31, 2017, compared to 153.9 million in 2016. The properties in the company's own portfolio are recognized at 507.6 million as of the end of the year (previous year: 463.2 million). The equity ratio is 31.1 percent (previous year: 29.5%).
Last year, Fortimo completed several hundred apartments and handed them over to new tenants or owners. The completed rental properties remain in the company's own portfolio. At the same time, several smaller rental properties in rather peripheral locations were sold as a package. This has substantially strengthened the equity base and makes it possible to look for new opportunities, Fortimo reports. Due to the increasing vacancy rate, especially outside the centers and agglomerations, the company intends to focus more on attractive micro and macro locations in future acquisitions.
Fortimo Group AG develops, holds and operates residential real estate and special properties. Since its start in 2000, the company has planned and realized over 3,800 residential units (rental and owner-occupied apartments, building land parcels, etc.). The group, with just under 55 employees at the St. Gallen site, is entrepreneurially managed by the Remo Bienz and Philipp Bienz families.
