Senior residence doubles profit
For the 2020 financial year, Senioresidenz AG reports strong growth in rental income: according to preliminary, unaudited results, it rose by 129% to around CHF 8.7 million.
According to Senioresidenz AG, the increase in net rental income from CHF 3.8 million in the previous year 2019 to around CHF 8.7 million in 2020 is attributable to the acquisitions of properties in Martigny and Richterswil (H2 2019) and a portfolio of six residential and care centers in Berg, Egnach, Kirchlindach, Kradolf, Reute and Wald (1.1.2020), as well as the purchase of a property in Hergiswil (1.12.2020). The market valuation of the real estate portfolio resulted in a slightly negative result from revaluation of -0.1 million (2019: +0.9 million).
SenioResidenz puts profit at EBIT level at 5.8 million; this is double the figure for the previous year (2019: 2.8 million). According to the first unaudited figures, profit including revaluation result is expected to be 4.1 million (2019: 2.8 million) and profit excluding revaluation result is also expected to be around 4.1 million (2019: 2.1 million).
The company will publish its full 2020 annual report on February 26, 2021. (bw)
