Patrimonium Urban Opportunity increases rental income
After a small loss in the previous year, Immobilien-AG 2024 reported a clearly positive result of CHF 5.2 million. This was not only due to the valuation result.
According to Patrimonium Urban Opportunity AG, it benefited from increased rental income, cost discipline and a favorable revaluation of its investment properties in the 2024 financial year. The handover of a new office building in Bussigny (VD) had a particularly positive impact. Operating income rose byTP3T 7.351 million year-on-year to CHF 13.5 million. The new letting of 6,500 sqm in the properties in Reinach, Crissier and Bussigny contributed to this.
Property expenses fell slightly from CHF 3.3 million to CHF 3.2 million - despite the addition of a new property (in Reinach) to the portfolio. The reason for this development was that maintenance and renovation costs were significantly lower than in the previous year. However, operating expenses rose from CHF 2.2 million to CHF 2.7 million. Provisions for "doubtful receivables" are the reason for this, according to Patrimonium. However, the operating result before revaluation improved by CHF 7.19% to CHF 7.5 million.
The value of the real estate portfolio increased from CHF 254.8 million to CHF 261.0 million. CHF 4.9 million of this growth is attributable to investments and CHF 1.3 million to revaluation gains. The largest contribution to this growth came from the completion of the new Bussigny Mochettaz office building in May 2024. The massive improvement in the annual result from CHF -1 million to CHF +5.2 million was due not least to the aforementioned revaluation gains. (aw)
