Acron Helvetia I closes 2019 in the red

Acron Helvetia I Immobilien Aktiengesellschaft closed the 2019 financial year with a loss of CHF 1.28 million, after a profit of around CHF 403,517 in the previous year. The reason for the minus was an additional depreciation of around 1.1 million for the Südpark office property in Solothurn, which the company has since sold. Acron Helvetia I now holds another office and logistics property in Buchs (ZH) in its portfolio.

Operating income before depreciation and amortization in 2019 was about 390,000 below the comparable figure for the previous year, Acron says. Rental income fell from about 1.96 million to 1.763 million, it said, with the decline in revenue attributable to the Buchs property. The financial result for fiscal 2019 was around -457,000, slightly better than the previous year's -459,000, as expected.

According to the new valuation report, the balance sheet value of the office and logistics property in Buchs will be set at 16.41 million at the end of 2019 and that of the office property in Solothurn at 10.2 million.

Net asset value after deferred taxes was CHF 6.67 per share as of December 31, 2019. As of June 30, 2019, it was CHF 7.98 per share. There is to be no distribution to shareholders.