Warteck Invest: profit increase in the first half-year
Warteck Invest reports a profit of CHF 16.4 million for the first half of 2021, a good 3% more than in the same period last year.
According to Warteck Invest, the profit increase of T€3.11 was due to a T€1.61 increase in rental income to CHF15.5 million (previous year: 15.2 million) and the result from the revaluation of properties of T€9.7 million (previous year: 8.9 million). The Group's operating profit (excluding revaluations and the release of provisions) increased in the first half of the year by 4.1% to 8.8 million (previous year: 8.4 million) compared with the same period last year. The return on equity rose slightly fromTP1T 8.01 toTP1T 8.11.
Tenants who were affected by the renewed Corona lockdown were granted rent reductions totalling 0.26 million, which equates to 1.4% of the target rent, Warteck Invest added. Nonetheless, the target rental income in the first half of the year increased by 1.0% to 18.4M compared to the same period last year, it added. The vacancy rate reportedly fell from 3.4% to 2.2%, and actual rental income came in at 18.0M (PY: 17.6M).
The value of the real estate portfolio increased by 1.9% to 854.5 million compared to the end of 2020 (previous year: 838.6 million), Warteck Invest said. Current projects are developing according to plan, and planning for further projects has begun, it added. For the next five years, the real estate company has, according to its own information, a pipeline of increase, redevelopment and area development projects with a total volume of around 255 million euros. (ah)
