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Type: | Actions |
Ticker: | HELN |
ISIN: | CH0466642201 |
Helvetia (CH) Swiss Property Fund delivers solid results for 2022/23
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Helvetia Holding AG
/ Key word(s): Miscellaneous
Helvetia (CH) Swiss Property Fundis reporting a solid set of results for 2022/23 against a challenging market backdrop for indirect real estate investments. The net income available for distribution registered a substantial year-on-year increase, rising from CHF 17.94 million to CHF 22.59 million, corresponding to a net income per unit of CHF 2.78. For its fourth financial year, Helvetia (CH) Swiss Property Fund is again able to report an encouraging set of results, in a challenging market environment. With solid net income of CHF 22.59 million as well as the strategic focus on residential usage accounting for 78% of rental income, a stable development produced total income of CHF 0.16 million. This represents an investment yield of 0.41%. Active management of the investments increased rental income to CHF 36.93 million (2021/22:CHF 27.36 million), while the rent default rate declined to 2.48% (2021/22: 2.53%). This had a positive impact on earnings capacity, with the EBIT margin increasing to 66.19%, versus 65.05% in the previous year. Higher net income per unit The slight, market-related drop in property portfolio value is offset in part by the positive operating result. Unrealized capital losses amount to CHF22.02 million (2021/22: unrealized capital gains of CHF 8.45 million). This value adjustment is attributable to higher interest rates over past months and the resultant rise in the discount rates applied by independent appraisers. This led to a decline in market values in the portfolio. Successful capital increase Successful first-time participation in GRESB Outlook for financial year 2023/24 With a market value in excess of one billion Swiss Francs, the Helvetia (CH) Swiss Property Fund is one of the largest non-listed real estate funds in Switzerland. In favourable market constellations, it thus meets the requirements for listing on SIX Swiss Exchange. This is planned for the first half of 2024.
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End of Media Release |
Language: | English |
Company: | Helvetia Holding AG |
Dufourstrasse 40 | |
9001 St.Gallen | |
Switzerland | |
E-mail: | [email protected] |
Internet: | www.helvetia.com |
ISIN: | CH0466642201 |
Valor: | 46664220 |
Listed: | SIX Swiss Exchange |
EQS News ID: | 1793523 |
End of News | EQS News Service |
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1793523 11.12.2023 CET/CEST
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