Epic Suisse AG: Rental income up in H1

Epic Suisse AG increased rental income by 8.3% to CHF 30.7 million in H1. One driver was the purchase of a logistics property in Roggwil at the end of March 2021, which contributed an additional three months of rental income to the new half-year figures, as well as lower vacancy rates and expiring Covid effects. Vacancy decreased from 7.6% to 6.5% during the half year, mainly due to office lettings.

The revaluation of the portfolio resulted in an increase of 1.3% to CHF 1.48 billion. Ebitda increased by 5.8% to CHF 24.4 million. Included are one-off IPO costs of CHF 5.9 million. Profit including revaluation effects amounted to CHF 38.7 million (H1 2022: CHF 18.3 million). However, excluding revaluation gain and including IPO costs, profit decreased from CHF 17.3 million to CHF 13.5 million.

Project progress

Major projects include the construction of the Pulse building in Cheseaux-sur-Lausanne (IB reported) and the expansion of the Leman Campus (Building C), for which a building permit has now been obtained. The main tenant has already agreed to use 33% of the space. Construction is expected to start in the 1st half of 2023.

Forecast confirmed

For the full year, Epic confirms the forecast of rental income in excess of CHF 60 million - but subject to new risks that could arise from the geopolitical and macroeconomic situation. (aw)