Helvetia Swiss Property: Fund with stable net income
The fund increased its rental income in the past financial year. The distribution remains stable.
The recently listed on the stock exchange According to the 2024 annual report, Helvetia (CH) Swiss Property Fund generated stable net income of CHF 22.3 million (previous year: CHF 22.6 million). Total income increased dramatically from CHF 0.2 million to CHF 24.2 million. This was due to a positive valuation result of around CHF 4 million, which was not realized, after the portfolio had been devalued by CHF 22.0 million in the previous year. Realized capital gains of CHF 0.4 million from the sale of the property at Talbodenstrasse 15 in Schliern bei Köniz are also included in the result. Helvetia puts the return on investment at 3.01 %.
The predominantly residential properties in the portfolio generated rental income of CHF 42.6 million (previous year: CHF 36.9 million). The rent loss rate was 2.06 % (previous year: 2.48%).
Distribution yield of around 2.5%
Last year's distribution of CHF 2.75 was again achieved despite higher financing costs. Based on the share price on the reporting date, the distribution yield was 2.49 %. The performance of 9.14 % was below the sector benchmark of 15.32 %.
The fund intends to make additional purchases in the 2024/25 financial year. To this end, it is planning a capital increase in the first half of the year. "The issue proceeds can be used to acquire a broadly diversified residential real estate portfolio with high location and property quality from the Helvetia Insurance portfolio," writes the fund management company. No acquisitions were made in the last financial year. (aw)
