Hiag: One-off effects shape the annual result
Two opposing effects characterize the 2018 corporate result of the real estate company Hiag: Significantly higher valuation gains on real estate investments are offset by a one-off write-down in the Hiag Data segment.
According to the real estate company, the two one-off effects would neutralize each other in the result. Changes in value from the revaluation of real estate assets for the 2018 financial year will be "at least twice as high" as in the previous year, when the figure was CHF 33.29 million, according to the company. The reasons for this are progress in development projects and acquisitions in the second half of the year, it said.
At Hiag Data, the company is taking a one-time write-down of 16.4 million as of December 31, 2018, which will impact the segment in addition to the ongoing negative earnings contribution. The investments in Cloud 4.0 were reviewed for impairment at the end of the year against the backdrop of further technical development and the intended partnership with SIX Group, Hiag further states as the reason.
The bottom line is that the doubling of changes in value from the revaluation of real estate investments will be offset by the loss and the one-off write-down at Hiag Data. The property income received for the 2018 financial year - increased by the acquisitions made - will be in line with the expectations already communicated, Hiag added.
The full 2018 Annual Report will be published on March 18, 2019. (ah)
