Zug Estates with higher net income
Even before revaluation, Immobilien-AG earned better than in the same period last year. The company expects a lower result for the second half of the year due to higher expenses.
At Zug Estates, higher revaluations led to an increase in net income ofTP3T 127.11 million to CHF 63.9 million. Adjusted for revaluation and special effects, net income rose by CHF 10.11TP3K to CHF 19.9 million. Real estate income rose by CHF 6.0% to CHF 35.9 million with the real estate portfolio remaining unchanged.
Due to revaluation effects and investments, the market value of the entire portfolio increased by CHF 3.3% to CHF 1.9 billion. The revaluation gain amounted to CHF 50.1 million, compared with a revaluation gain of CHF 11.5 million in the prior-year period. In relation to all investment properties, this corresponds to a share of the portfolio value of 2.7%. The vacancy rate remains at a very low level. It increased slightly from 0.7 to 0.9% in the first half of the year.
Due to slightly higher real estate and financing expenses, Zug Estates expects net income excluding revaluation and special effects to be lower in the second half of the year than in the first half. For the year as a whole, however, a "result above previous year" is forecast. (aw)
