Ina Invest with higher profit in H1
The past half-year was characterized by stable rental income and appreciation due to project progress.
Ina Invest generated a consolidated profit of CHF 2.1 million in the first half of the year. This is almost double the previous year's figure (CHF 1.2 million). This was boosted by a valuation result of CHF 4.3 million, which was significantly higher than in the same period of the previous year (CHF 0.8 million). According to the information provided, this was due not least to the progress made with the development projects. Ina Invest positively highlighted the "Rocket & Tigerli" (Lokstadt) project in Winterthur and the "Schaffhauserstrasse" project in Zurich. By contrast, negative value adjustments were recorded for office properties. The market value of the real estate portfolio rose by a total of CHF 10.5 million or 1.3% to CHF 847 million as a result of the aforementioned changes in market value and investments.
Operating result before valuation lower
The operating result (EBIT) including valuation rose by 63% to CHF 6.9 million. Excluding changes in market value, however, the operating result fell from CHF 3.4 million to CHF 2.6 million. Despite the larger real estate portfolio, operating expenses were only slightly higher, mainly due to higher borrowing costs. At CHF 7.6 million, rental income was roughly on a par with the same period of the previous year (H1 2023: CHF 7.9 million).
Renting in Geneva
The "Elefant" building (Lokstadt) in Winterthur contributed a full semester of rental income. In the "Chemin des Olliquettes" property in Geneva, three out of four floors were leased to the Canton of Geneva on a long-term basis. On the other hand, there are properties that became vacant due to an upcoming renovation, such as the "Rue du Valais" in Geneva.
Referendum for major project in Pratteln
Ina Invest reports progress on numerous key projects, including the receipt of the building permit for the casino in the "Lokstadt-Hallen" in Winterthur and for the "Rue du Valais" project in Geneva, where construction can now begin a year earlier than originally planned. The preliminary projects "Rocket & Tigerli" in Winterthur and "Unterfeld, Baufeld 3" in Baar have been completed. In Pratteln, however, the "Bredella West" district plan will probably have to face a referendum in the fall. (aw)
