La Foncière: Portfolio grows to over two billion francs
The fund increased its rental income by almost eight percent and its gross assets by over nine percent in the last financial year.
La Foncière increased rental income by CHF 7.9TP3T to CHF 92.7 million in the 2023/24 financial year. The market value of the fund properties increased by CHF 6.0% and exceeded the CHF 2 billion threshold for the first time. Gross assets even rose by 9.3 % to CHF 2.1 billion.
At 17.6%, the leverage ratio is lower than in the previous year and the fund's premium remains considerable at 32.12 %. The fund management company has also announced that the fund is increasing the dividend to CHF 2.55 per unit. The dividend yield thus amounts to 1.78 %. The annual performance of the fund is 13.12 %, compared with 15.32 % for the benchmark index SXI Real Estate Funds.
Overall success grows strongly
The completion of the Rue de la Servette 89abc and Côté Parc projects in Geneva in 2023 and 2024 contributed to the increase in rents. The two acquisitions, Chemin des Semailles 51 in Geneva and Rue de la Servette 93, which were acquired after the balance sheet date, are also expected to further increase rental income. There were no sales in the financial year.
Net income was reported at CHF 36.1 million (previous year: CHF 31.3 million), while total income rose from CHF 63.3 million to CHF 88.3 million. Revaluations of CHF 52.7 million (previous year: around CHF 32 million) contributed to this. (aw)
