Epic Suisse increases rental income in 2022

Epic Suisse AG is satisfied with the operating result for the financial year 2022: Rental income increased by 4.9% to CHF 61.5 million (prev. yr.: 58.6 million), the real estate company reports. On a like-for-like basis, the increase was 3.2%, mainly due to new leases. The increase was mainly due to a reduction in the vacancy rate to 5.8% in 2022 (prev. yr: 7.6%) and full-year rental income from the acquisition of the logistics property in Roggwil as of April 1, 2021, Epic Suisse said. Net rental yield from properties in operation reached 4.2%, up from 4.1% a year earlier, it said. The WAULT is 8.2 years (PY: 8.6 years).

Real estate portfolio increases in value

As of the end of 2022, the real estate portfolio had a value of approximately CHF 1.5 billion, an increase of 2.5% compared to the previous year. Revaluation gains of CHF 0.9 million were significantly lower than the previous year's figure of CHF 48.9 million. Epic Suisse invested CHF 29.5 million both in the existing portfolio and in the acquisition of a company holding a production/industrial building on a site in Tolochenaz. The site in Tolochenaz is adjacent to land already owned by Epic Suisse.

EBTIDA significantly below previous year

EBITDA (including revaluation of real estate) amounted to CHF 44.0 million in 2022, less than half of the previous year's figure of CHF 97.8 million. EBTIDA 2022 included the expenses for the IPO (CHF 5.9 million). Excluding the revaluation effect and the IPO costs, EBITDA remained at the previous year's level of CHF 48.9 million.

Profit (including revaluation effects) reached CHF 56.4 million compared to CHF 77.5 million in 2021. Excluding revaluation effects, profit was CHF 32.6 million (PY: 38.1 million). (ah)