Fundamenta Real Estate posts record result
Net profit excluding revaluation improved by 6.9% in 2024. Sales significantly above book value.
Fundamenta Real Estate AG sold four properties in the 2024 financial year, generating sales proceeds of CHF 4.8 million. This corresponds to a premium of 15.8% on the balance sheet value. The company acquired the property at Schoorenstrasse 35 in Kilchberg (ZH) for consolidation purposes. Despite the divestments, the balance sheet value of CHF 1.2 billion was CHF 1.5% above the previous year's level.
Net profit and EBT margin significantly improved
Net actual rental income increased by 2.0% to CHF 41.9 million. According to the company, the completed repositioning in Glattbrugg and Dietikon had an impact here. The vacancy rate remained unchanged at 1.3%. Operating expenses, on the other hand, fell slightly by CHF 0.4% to CHF 12.1 million, boosted by a reduction of CHF 2.8% in administrative expenses.
Net profit excluding revaluation rose by CHF 6.9 million to CHF 21.7 million. According to the information provided, this is the best result in the company's history. The operating EBT margin improved from 50.8 to 62.9%.
Profit including revaluation of 30.5 million francs
While there was still a loss from revaluation of CHF 10.0 million in the 2023 financial year, the revaluation result in 2024 was positive at CHF 10.9 million. The ordinary net profit therefore rose from CHF 8.3 million to CHF 30.5 million. The distribution is expected to increase by CHF 9.1% to CHF 0.60 per share.
The sales mentioned relate to the following properties:
- Kreuzlingen, Gottliebenstrasse 6/8
- Berne, Werkgasse 53/55
- Forest, Schüsselwiese 7/9/11/13
- Berikon, Musperfeldstrasse 3.
