Fundamenta: Revaluations will depress profit in 2023
Net profit excluding valuation effects, on the other hand, increased slightly to CHF 20.3 million.
One day, before the takeover by Swiss Prime Site was announcedFundamenta presented its results for the 2023 financial year. Net profit excluding revaluation effects increased slightly, but including revaluation effects it decreased by more than 60% compared to the previous year.
In the 2023 financial year, Fundamenta was able to keep net actual rental income stable at CHF 41.0 million (previous year: CHF 40.9 million) despite temporary reductions in income of CHF 1.3 million due to repositioning. The vacancy rate was reduced from 1.6% to 1.3%.
Net profit excluding revaluations rose by CHF 2.3% to CHF 20.3 million (previous year: CHF 19.9 million), mainly due to reduced administrative costs and lower income taxes, according to the company. The sale of three properties contributed CHF 0.9 million to net profit excluding revaluation effects. However, ordinary net profit including revaluations decreased significantly, falling from CHF 22.3 million in the previous year to CHF 8.3 million. This is due to impairments in the portfolio amounting to more than CHF 10 million (0.8% of the portfolio volume). The carrying amount at the end of 2023 was CHF 1.2 billion.
As in the previous year, the dividend for the financial year will amount to CHF 0.55/share. A total of CHF 16.5 million will be distributed, which corresponds to a payout ratio in relation to net profit excluding revaluation of 81.3%. (ah)
