Senioresidenz: profit down due to revaluation in H1

According to Senioresidenz's preliminary figures, the total value of the real estate portfolio increased by almost CHF 30 million to CHF 258.3 million in the first half of the year, mainly due to investments and acquisitions. Rental income rose from CHF 5.3 million to CHF 5.7 million. By contrast, the revaluation result deteriorated from CHF +0.1 million to CHF -3.4 million compared to the same period last year, mainly due to higher discount rates and investment requirements for the properties in Leukerbad and Richterswil. For the operating result before interest and taxes (EBIT), this means a decline from CHF 3.3 million to CHF 0.9 million. Profit including revaluations is expected to amount to CHF 0.3 million, compared to CHF 2.4 million in the first half of 2022. Excluding revaluations, however, profit improved from CHF 2.3 million to CHF 3.1 million.

In the first half of the year, Senioresidenz acquired an existing property in Salmsach (TG), finalized investments in the "Domum Saline II" project in Bad Zurzach (AG) and completed the "Croix Blanche" new-build project in Aigle (VD). The "Leuenegg" new-build project in Oberdiessbach (BE) is proceeding according to plan. The 24 age-appropriate residential units should be ready for occupancy in August 2023. In the long term, the annual target rental income from the four properties mentioned will amount to around CHF 2 million after completion or the expiry of a graduated rent. (aw)