La Foncière: Significant increase in rental income
The fund significantly increased both rental income and net income in the first half of the year.
According to the half-year report, the La Foncière real estate fund exceeded the CHF 50 million threshold in rental income for the first time. Rental income increased by CHF 13.4% to CHF 50.3 million. The fund recorded a year-on-year increase in net income of CHF 16.0% to CHF 19.4 million:
The debt ratio was reduced by 6.3 % to 18.7% compared to the first half of the year. In the first half of the year, the fund acquired the new building at Rue de la Servette 93 in Geneva for CHF 59.1 million, which was built at the same time as property number 89 abc, which was constructed by the fund. There were no sales in the first half of the year.
At CHF 13.7 million, the overall result is considerably lower than a year ago (CHF 47.6 million). The reason for this is an unrealized capital loss of CHF 5.6 million, after a corresponding profit of CHF 30.9 million in the same period of the previous year. CHF 5.6 million, after a corresponding profit of CHF 30.9 million in the same period last year. However, only a few selected properties were revalued in the first half of the year, so these figures should be seen as a snapshot. (aw)
