Procimmo: Immo56 increases earnings
In the first half of the year, the real estate fund Immobilier-CH pour Institutionnels 56j (Immo56) increased its income by almost 20% compared to the previous year.
According to a statement from Procimmo, Immo56's net income as of September 30, 2019 is approximately CHF5.38 million, up 19% from the previous year. The investment return is put at 4.87%. The fund's net asset value is reportedly CHF144.20 per unit, up from CHF142.40 as of September 30, 2018.
Total income amounted to around 9.87 million; in the previous year it was 9.12 million. Rental income increased from 8.70 to 9.27 million. Total expenses decreased from 4.6 to 4.49 million.
Procimmo further reports that Immo56 achieved an Ebit margin of 68.19% (previous year: 65.45%), while return on equity increased from 4.40% to 4.70%. The twelve-month return on investment was 4.87%.
The leverage ratio was 35.33% as of the reporting date (previous year: 29.86%). The TER ref (GAV) decreased from 0.91% to 0.88%. The rent default rate decreased from 6.72% to 4% (6.72% as of 9/30/2018).
As of the reporting date, the net fund assets of Immo56 were 276.8 million, and total fund assets were 441.8 million. (ah)
