Swisscanto AST: Real estate investment group with higher net income
Swisscanto reports higher net income and only a slight decline in total income for the Real Estate Responsible Switzerland investment group.
The Swisscanto AST Real Estate Responsible Switzerland investment group increased its net income from CHF 231.3 million to CHF 242.1 million in the 2022/2023 financial year. At CHF 405.7 million, total income was slightly lower than in the previous year (CHF 418.9 million) despite substantial capital gains from project developments due to declining changes in portfolio values, Swisscanto writes in the annual report. Based on this result, a return on investment (GT class) of 4.95% (previous year: 5.51%) was achieved.
As at June 30, the portfolio consisted of 240 existing properties and six properties under construction with a balance sheet value of CHF 9.5 billion (previous year: CHF 8.9 billion). Around half (48.8%) of the portfolio income came from residential properties. In the financial year, 15 existing properties, one residential plot and one co-ownership share were added. In addition, two major new construction projects were completed. The rent loss ratio fell from 6.2% in the previous year to 6%. (aw)
