Investis: Sales up in the first half of the year
The Investis Group increased its sales by 14% to CHF 102 million in the first half of 2021. The operating result rose from CHF 62m to CHF 155m.
Investis reports that the Properties segment kept revenue stable at CHF29 million, despite the sale of three commercial properties in the second half of 2020. Like-for-like rental income increased by 1.6%, and vacancy decreased to 2.7% (31/12/2020: 3%). Annualized target rental income amounted to 63.0 million (12/31/2020: 58.6 million). In the Real Estate Services segment, there was a decline in revenue of 1.6% in the Property Management segment. However, Facility Services increased sales significantly from 32 to 45 million. In total, the Investis Group achieved sales of 102 million
Continued higher cash flows from real estate and a decline in the average real discount rate led to revaluations of 131 million, Investis added. This resulted in an operating profit (EBIT) of 155 million, compared to 62 million in the previous year. EBITDA of the Investis Group before revaluations and capital gains reached 25 million, compared to 24 million in the previous year.
Net income climbed from 51 million to 132 million in the reporting period; excluding the revaluation effect, net income was 19.6 million. For the full year, barring unforeseen circumstances including a renewed spread of Covid-19, Investis expects net income to be significantly higher than last year. (ah)
