Novavest: Significant growth and a new CFO
According to preliminary figures, Novavest Real Estate grew in fiscal 2019, primarily thanks to acquisitions. With Patrick Hauser, the real estate company also has a new CFO.
Novavest Real Estate has achieved a pleasing result in the 2019 financial year, according to preliminary, unaudited results. Net rental income increased by 10.5% to around CHF 21.5 million in the 2019 reporting period (previous year: 19.4 million). The majority of the year-on-year growth was attributable to additional rental income from the nine properties in the "Berne Portfolio", which the company acquired in mid-December 2018. The market valuation of the property portfolio resulted in income from revaluation of 6.6 million (previous year: 4.2 million).
According to preliminary results, earnings before interest and taxes (EBIT) amounted to 20.5 million (previous year: 17.3 million). Profit including revaluation gains is 14.3 million (previous year: 11.9 million), excluding revaluation gains it amounts to 9.2 million (previous year: 9.0 million). The company will publish its 2019 annual report and additional details on the 2019 annual results on February 25, 2020.
Patrick Hauser becomes new CFO
At the beginning of the year, Novavest saw personnel changes in the management team. Patrick Hauser took over as Chief Financial Officer (CFO) on January 9, 2020. He succeeds Michel Aebischer, who is leaving the company by mutual agreement, according to a statement. Aebischer had been CFO of the real estate company since July 2019.
Patrick Hauser (born 1969) was already CFO and member of the Executive Board at Novavest Real Estate from 2015 to 2018. In the course of a change of ownership at Nova Property Fund Management, which provides management and consulting services for the benefit of Novavest, Hauser left the Executive Board of Novavest Real Estate at the end of April 2018.
He became CFO and a member of the executive committee at Nova Property Fund Management, overseeing Novavest Real Estate as chief financial officer until June 2019. With his reappointment as CFO and member of the executive committee at Novavest, Hauser has stepped down from his positions at Nova Property Fund Management.
Hauser has also been CFO of Ralbau AG Generalunternehmung in Chur since 2011 and CFO of Senioresidenz, which is listed on the BX Swiss AG, since 2017.
(bw/ah)
