Züblin Immobilien reduces vacancy rate
The company almost halved its vacancy rate in the 2024/25 financial year and significantly increased its annual profit.
Züblin Immobilien increased target rents by 1.6% to CHF 10.2 million in the 2024/25 financial year. According to the statement, this was due to indexed contracts and inflation-related adjustments. Lettings, particularly in Bern, reduced the vacancy rate from 9.3 to 4.8%. Rental income, on the other hand, increased by 4.3% to CHF 9.4 million. However, property expenses almost doubled to CHF 0.45 million due to the impairment of a rent receivable. Without this effect, the figure would have been 13.6% lower than in the previous year, Züblin writes in the annual report. The operating result rose by CHF 2.1% to CHF 8.8 million, while EBITDA remained stable at CHF 6.3 million. A revaluation of the real estate portfolio by 2.6 % or CHF 5.8 million (previous year: CHF - 3.4 million) resulted in EBIT multiplying from CHF 2.8 million to CHF 12.1 million. Profit for the year rose by a similar amount, from CHF 1.3 million to CHF 8.7 million.
Acquisitions in prospect
According to the press release, the distribution is to remain constant at CHF 1.00, which corresponds to a yield of 3.0%. "The solid balance sheet, low debt and low vacancy rate offer a good starting point for further growth and possible acquisitions," the company said. Despite economic uncertainties, a "slight operating improvement" is expected.
Two rentals in Bern
The above-mentioned letting in Bern relates to the Morgenstrasse property in Bern-Bümpliz, where the space on the second floor has been let to a medical technology company on a long-term lease since July 2024. This is likely to be LEM Surgical AG. From autumn 2025, an additional area of around 800 sqm has been let to a fitness center with a lease term of seven years. Space is still available on the 3rd floor. In the fall, the vacancy rate will reportedly fall to below 20 %. (aw)
