Procimmo fund Immo56 yields 4%
The Immo56 real estate fund of Procimmo SA reports a return on investment of 4.09% for the past financial year.
AtT 4.091TP3k, the return on investment of Immo56 is significantly below the previous year's figure ofT 6.731TP3k. The distribution yield fell from 3.43% to 3.41%.
The net asset value as at March 31, 2019 was CHF 145.10 per unit - a slight increase on the previous year (CHF 144.40/unit). The tax-exempt dividend per unit is CHF 4.90.
Total income amounted to around 18.4 million, compared to expenses of 9.3 million. The total profit for the financial year is estimated at 10.9 million.
Rental income fell from 17.9 million to 17.5 million. As at March 31, 2019, the rent loss ratio was 6.04%, which also includes vacant buildings and vacancies in properties that are currently being marketed.
The EBIT margin amounted to kEUR 65.511 compared to kEUR 66.941 in the same period of the previous year; the leverage ratio fell from kEUR 32.341 to kEUR 31.851. The TER REF (GAV) increased from 0.88% to 0.93%.
According to Procimmo, the net fund assets of Immo56 amounted to 278.4 million as at March 31, 2019, with total fund assets amounting to 419.3 million. (ah)
