Immofonds grows significantly in the 2024/25 financial year

The real estate fund increased its income by CHF 7.4% to CHF 93.1 million in the 2024/25 financial year. Thanks to completed projects and an acquisition in Basel, which contributed rental income of CHF 2.9 million, rental income increased by CHF 6.0% to CHF 91.1 million. Rent adjustments (CHF 1.7 million) also contributed to this growth. Net income improved from CHF 46.3 million to CHF 51.7 million. In addition, there was a realized capital gain of CHF 1.6 million from the sale of the property in St. Gallen. Unrealized capital gains reached CHF 82.1 million (previous year: CHF 65.6 million), which improved total income by 21.0% to CHF 135.5 million.

The market value of the portfolio rose by 9.6% to CHF 2.6 billion. Just under half of this increase is attributable to investments. "The existing portfolio was revalued by 5.5%, reflecting the higher income from the properties, their good location and the portfolio quality," says Gabriela Theus, Managing Director of Immofonds Asset Management.

The unchanged distribution of CHF 13.50 per unit corresponds to a distribution yield of 2.2%, while the performance amounted to 19.9%.

Outlook: Slightly higher rental income

The Immofonds' largest investment project is currently the major Wankdorfcity 3 project in Bern. Provided the projects in Prilly and Basel can be launched as planned, the fund expects investments of CHF 120 to 130 million in the new financial year. "Rental income should slightly exceed the previous year's figure," writes the fund management company. "Due to the substantial investments, higher debt and thus rising financial expenses are to be expected," it continues. The distribution is to remain unchanged.

Purchases

- Basel, Missionsstrasse 60-64a (CHF 44.9 million)

Sales

- St. Gallen, Rosenbergweg 19 (CHF 3.4 million)