SenioResidenz presents half-year figures

SenioResidenz, which specializes in senior citizens' real estate and nursing care facilities, carried out a capital increase of 50 million in the first half of the year, and acquired the Leukerbad Clinic property in Leukerbad (VS) for CHF 34 million.

Rental income in the first half of 2018 amounted to CHF 923,000 and comprises two months of rental income from the Leukerbad Clinic acquired on May 1, 2018 and six months of rental income from the La Louvière senior citizens' residence in Presinge (GE). The operating result before interest and taxes (EBIT) amounted to CHF 173,000. After taking into account financial expenses (153,000 CHF) and income taxes (54,000), the bottom line was a minus of 34,000 CHF.

Total assets amounted to 75.6 million as of the reporting date. It had increased by around 51 million compared to the end of 2017 due to the capital increase and portfolio expansion, SenioResidenz reports. Fixed assets of 59.5 million consisted mainly of the value of the investment properties in Presinge (21.8 million) and Leukerbad (36.0 million), as well as goodwill of 1.2 million from the acquisition of the property in Presinge. Equity amounted to 61.8 million as of the balance sheet date, corresponding to an equity ratio of 81.7 percent. Net asset value as of June 30, 2018, was reportedly CHF 48.35.

The board of directors is convinced that the demand for attractive forms of living for the third and fourth phase of life will continue unabated due to demographic changes in the population, according to a statement by SenioResidenz. The current high equity ratio and access to the capital market will enable further acquisitions of properties in the target market in the future, it adds. The pipeline is currently well filled and the company is convinced that it will find further very interesting properties for its portfolio. (ah)