Investis expects more profit
Investis expects a significantly higher net profit for the first half of 2021 than in the same period last year. This is due to a sharp increase in revaluation gains, the real estate company said.
A significantly higher valuation of the property portfolio is expected for the first half of the year, Investis Holding announces. The portfolio comprises 167 buildings and was valued at CHF 1.49 billion as of December 31, 2020.
The independent external valuation expert CBRE determined a significantly higher valuation of the property portfolio as of June this year due to again lower discount rates and a further increase in rental income like-for-like, Investis writes in an ad hoc release. The average real discount rate is expected to fall to around 2.9%, down from 3.15% in December 2020, it said. This would lead to significantly higher revaluation gains in the range of CHF 125 million to CHF 135 million.
In view of this and the "continued solid performance" of the Properties and Real Estate Services segments, Investis says it expects net profit for the first half of 2021 to be significantly higher than in the same period last year. (ah)
