Plazza expects higher revaluation result
Plazza AG expects income from revaluation of CHF 18.5 million for the first half of the year. According to the real estate company, this is at least 90% more than in the same period last year.
As Plazza writes in an ad hoc announcement, the high revaluation gain of CHF 18.5 million (prior-year period: CHF 9.7 million) is mainly due to a reduction in the discount rates on which the valuation is based: As a result of the continuing high demand for investment properties, real estate investors had reduced their yield expectations, Plazza said. This development is also reflected in the lower discount rates used in the valuation of the real estate portfolio as at 30.06.2020.
The real estate company also announced that the result for the first half of 2020 is otherwise in line with expectations. It continues to assume that the operating result before depreciation, amortization and revaluation for 2020 as a whole will be in the region of the previous year (18.9 million). The Covid-19 pandemic will only have an insignificant impact, as there is only a "vanishingly small" proportion of retail and hospitality space in the portfolio, according to Plazza.
The real estate company plans to publish the detailed half-year report on August 27, 2020. (ah)
