Fundamenta Group increases operationally in 2022

Fundamenta Group reports a net profit for the year 2022 of CHF 22.3 million (previous year: 28.9 million). The reason for the decline is the lower valuation result of CHF 3.9 million (previous year: 15.3 million). However, excluding this effect, the operating result increased to CHF 19.9 million (+12.4 %). Fundamenta increased its net actual rental income by 10.0%, exceeding the 40 million mark for the first time. This development was based on the acquisition of six existing properties, the completion of a development project and a further reduction in vacancy, from 2.5 to 1.6%. The real estate portfolio reached a balance sheet value of CHF 1.2 billion thanks to a growth of 10.7%. The weighted average interest rate increased from 0.8% to 1.1% as of the reporting date. Over the entire reporting year, the average interest rate was unchanged at 0.8%.

Performance negative

After increasing by a total of 26.7% in the two previous years, the share price declined by 17.2% to CHF 16.10 in the more difficult market environment of 2022. Taking into account the dividend of CHF 0.55 per share distributed in April, the overall performance was -14.9% (PY: +10.9%). As of the balance sheet date, the capital market valued the share at a discount of -4.5% (PY: premium of +16.7%) measured against NAV after deferred taxes due to the share price development.

For the financial year 2022, the Board of Directors will again propose a distribution of CHF 0.55 per share at the Annual General Meeting on April 5, 2023. The proposed distribution of CHF 16.5 million in total corresponds to a payout ratio of 74.3% in relation to the reported net income.

Board of Directors: Herbert Stoop will not run again in 2024

At the upcoming Annual General Meeting, the entire Board of Directors will stand for re-election. In this context, Herbert Stoop has announced that he will not stand for re-election at the 2024 Annual General Meeting. A new Board of Directors is being sought. (aw)