La Foncière achieves 7.6% return on equity

La Foncière's total assets stood at CHF1.48 billion at the end of the fiscal year, an increase of 2.78%, according to a statement from the fund's management. The fund's net worth is reportedly 1.06 billion, up 3.61% from the previous year. The debt financing ratio is 19.77% of the market value of all properties (previous year: 18.41%).

Rental income amounted to 81.41 million; the rent default rate is 0.78% (previous year: 1.37%). At the end of the fiscal year, eleven of the 4,233 apartments in the portfolio were vacant, informs the fund management.

The fund's share price fluctuated between CHF 99.30 and CHF 127.00 in the past fiscal year, closing at CHF 121.20 - an increase of almost 14% compared to the previous year's closing price of CHF 106.40.

The one-year performance is reported to be 17.43%. Over a five-year period, La Foncière achieved a perfomance of 53.71%. Return on equity (ROE) is put at 7.59% - up from 12.38% in 2018, while return on invested capital (ROIC) is 5.60%, up from 8.58% in the previous year.

The distribution yield increased year-on-year from 2.02% to 2.72% due to the distribution of an extraordinary dividend in September 2019. The fund operating expense ratio TER (REF GAV) decreased slightly from 0.76% to 0.75%. La Foncière increased the dividend from CHF 2.15 to CHF 2.17. (ah)