SF Sustainable Property Fund increases net income
The overall result is positive again thanks to an improved valuation result. Together with the half-year figures, SFP announces the departure of the portfolio manager.
The SF Sustainable Property Fund's real estate portfolio had a market value of CHF 1.45 billion as at June 30. The like-for-like portfolio experienced a slight appreciation of 0.07%. No transactions were carried out in the first half of the year.
Total income fell slightly from CHF 26.8 million to CHF 26.0 million. Target net rents fell by around 0.8 million or 2.8% due to the sales in the previous year. Like for like, however, rental income rose by +2.47%. On the other hand, SFP was able to reduce total expenses from CHF 14.4 million to CHF 13.2 million. Net income thus rose by CHF 4.0TP3T to CHF 12.9 million, and the overall result was clearly positive again at CHF 7.1 million, following a loss of CHF 8.3 million in the prior-year period. A key factor in the improvement was that the valuation and liquidation taxes item was considerably more favorable at CHF -5.8 million than in the first half of 2023 (CHF -20.7 million).
SFP has also announced that Nicolas Beutler, the fund's portfolio manager, will be leaving the company at the end of the year, having decided to pursue an "entrepreneurial challenge outside the real estate sector". A successor has not yet been appointed. (aw)
