Swiss Estates back in the black
Swiss Estates AG made a profit of CHF 1.74 million in the 2017 financial year. In the previous year, there was still a loss of around 2.1 million.
Net property income rose from CHF 5.35 million in 2016 to CHF 6.01 million, according to Swiss Estates based on the consolidated financial statements. The operating result (EBIT) including income from revaluation was 1.92 million, compared with 1.62 million in 2016. Earnings before taxes reached 0.86 million after -2.15 million in the previous year.
Shareholders' equity came to 45.24 million (previous year: 43.31 million). Net asset value (per share with a par value of CHF 9.80) reached CHF 13.16 (previous year: 12.97).
Swiss Estates invests in residential properties in the urban areas of Switzerland, including agglomerations of the larger cities. The company currently holds 18 investment properties in its portfolio.
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