Plazza: Operating profit stable in 2022
Plazza no longer expects a positive valuation result for 2023. In the past year, it already declined massively. However, the operating result before depreciation and revaluation of CHF 20.4 million is only minimally below that of the previous year (20.6 million).
Plazza's rental income increased slightly from CHF 26.1 million to CHF 26.3 million. The vacancy rate of the portfolio properties shrank by one fifth to 3.5%. The fact that the operating result nevertheless fell slightly is due to higher real estate expenses. Profit fell significantly, from CHF 71.9 million to CHF 23.6 million. This was due to the revaluation, where income fell from CHF 72.8 million to CHF 9.0 million. However, Plazza had already announced.
Plazza invested CHF 52.7 million last year (previous year: CHF 81.7 million), mainly in the development property in Crissier. The value of the real estate portfolio held as fixed assets increased from CHF 887.7 million to CHF 949.4 million. In the new year, the billion mark is to be exceeded, although, according to management, an appreciation of the portfolio is "in all probability" no longer to be expected.
Management proposes to the Annual General Meeting to maintain the dividend increased in the previous year. This means a distribution of CHF 7.00 per registered share A. For the current year, operating profit before depreciation and revaluation is expected to be in the order of magnitude of the previous year. However, the effects of supply bottlenecks and inflation cannot yet be estimated, it says. (aw)
