Espace increases profit by over eight percent in 2022

Espace Real Estate Holding is satisfied with the course of the year 2022 and speaks of a "very successful business year". Operating profit for the period, excluding revaluation and income from the sale of properties, climbed from CHF 16.9 million to CHF 18.2 million, according to a statement from the real estate company. This is a growth of 8.2 percent.

Profit for the period, including revaluation and income from the sale of real estate, was CHF 21.4 million, below the previous year's figure of CHF 22.8 million. At that time, a one-off gain from the sale of properties and a higher revaluation gain had a positive impact on the result, Espace said.

Portfolio value increases

The value of the real estate portfolio at the end of 2022 was CHF 781.8 million (previous year: CHF 738.1 million). According to Espace, investments, income from revaluations and the purchase of a residential development with 75 apartments in Zuchwil (SO) contributed to the increase in value. A non-strategic industrial building site in Oensingen (SO) and a commercial building in Grenchen (SO) were sold.

Rental income increased from CHF 34.5 million to CHF 35.6 million, mainly due to the acquisitions, the first-time rental of 93 refurbished apartments and the lower vacancy rate. The vacancy rate of investment properties decreased from 5.30% to 3.89%.

Capital increase in planning

In the current year, Espace intends to carry out a capital increase and expects proceeds of CHF 35 million from this. The company intends to provide further details at the Annual General Meeting on April 26. At this meeting, the distribution of a dividend of CHF 5.75 (previous year: CHF 5.50) will be approved and Anouk Marazzi will be elected as an additional fifth member of the Board of Directors. Marazzi is a lawyer and owner of Anouk Marazzi Immobilien GmbH. (ah)