Hiag: Back on track
Hiag Immobilien Holding achieved its targets in the 2020 financial year. All real estate projects were successfully advanced; the vacancy rate decreased significantly.
According to Hiag Immobilien Holding AG, annualized rental income increased by 2.2 percent to CHF 60.0 million (previous year: CHF 58.7 million). Rental income received amounted to CHF 59.7 million (previous year: CHF 61.4 million); the 2.7 percent decline mainly reflects the impact of the bankruptcy of Rohner AG Pratteln and the departure of Decathlon in Dietikon, Hiag management said. New contracts concluded, progress in project developments and an acquisition had enabled a positive effect from revaluations totaling CHF 27.0 million; in the previous year, there had still been a minus of CHF 16.0 million, mainly as a result of the bankruptcy of Rohner AG Pratteln. In the year under review, a solid consolidated result of CHF 55.2 million (2019: CHF -70.7 million) was achieved despite subsequent operating costs in connection with the redevelopment of the site in Pratteln and the restructuring of Hiag Data.
Hiag reported earnings per share (EPS) of CHF 6.82 (2019: CHF -8.85) and profit before revaluations and deferred taxes of CHF 32.6 million (previous year: CHF -69.1 million). The vacancy rate in the overall portfolio had been reduced by 3.0 percentage points to 13.2 percent, and in the existing portfolio to 13.0% (PY: 16.6%). The average remaining lease term is reported to be 7.9 years (2019: 8.9 years). The value of the total portfolio of 116 properties was CHF1.64 billion at the end of 2020 (2019: 1.57 billion); the weighted average discount rate for the total portfolio reportedly decreased slightly to 3.73% (2019: 3.94%). The Board of Directors proposes to the Annual General Meeting on April 22, 2021, a distribution of CHF 2.30 per outstanding share, half from reserves from capital contributions and half as ordinary dividend. (bw)
