Hiag: Net profit increases by over 60 percent

In the first half of the year, Hiag increased its real estate income by 5.3% year-on-year to CHF 37.1 million. The further reduction in vacancies from 4.0% to 3.5% as well as project completions and the associated new rental agreements contributed to this. The "Librec" commercial property on the "Papieri-Areal" in Biberist (SO), the "Kesselhaus" with 24 apartments and a share of commercial space in Windisch (AG) and the "Chama" rental and condominium project in Cham (ZG) were completed. The contribution to earnings from promotions amounted to CHF 11.1 million (H1 2023: CHF 5.3 million). Hiag also announced the start of construction on the second phase of the site in Cham (ZG) with 140 rental and condominium units in August and progress on the "Fahrwerk" logistics and industrial building in Winterthur (ZH) and the 80-metre-high "Alto" residential tower in Zurich-Altstetten. However, there was a setback at the "Campus Reichhold" in Hausen/Lupfig (AG), where additional contaminated sites were discovered, delaying the start of construction planned for the second half of 2024 by several months.

The value of the existing portfolio remained stable with a change of CHF 1.0 million or 0.1% (H1 2023: -1.3%). Despite the expected higher investments on the "Reichhold Campus", the progress made in project developments led to an overall increase in the value of the development portfolio of CHF 10.6 million or 1.3% (H1 +7.8 million or 1.1%). Transactions are not expected until the second half of the year.

At CHF 45.7 million, EBIT was well up on the previous year by CHF 32.6%. Net profit improved even more significantly, by 63.5% to CHF 36.2 million. Adjusted for revaluation effects, however, net profit of CHF 25.5 million was CHF 6.9% below the previous year's figure. Hiag points to a high level of sales success, which had characterized the comparative figures for the previous year. The company expects a "good financial year 2024 overall". (aw)