Investis significantly increases rental income
The company intends to exceed the forecast made in March for the development of rental income for the year as a whole and reports a high portfolio appreciation.
The acquisitions made by Investis in the last 18 months resulted in a considerable increase in rental income. In the first half of the year, gross rental income rose from CHF 62.0 million to CHF 81.3 million. On a like-for-like basis, growth amounted to 1.9% and 1.0% for residential properties. The vacancy rate remained at a low level of 1.4%.
EBIT down significantly due to sale in previous year
Due to the sale of the Real Estate Services segment, the income statement is only comparable with H1 2024 to a limited extent. EBITDA before revaluations and gains on disposal amounted to CHF 24.4 million (H1 2024: CHF 26.4 million). Damir was able to "fully compensate for the operating profit after just twelve months", as Investis comments.
Net profit of 80.2 million francs
Lower discount rates, increased cash flows and the real estate acquisitions led to an appreciation of the portfolio by CHF 70.5 million (previous year: CHF +4.5 million). EBIT, which in the previous year had seen a contribution of CHF 122.2 million from the sale of subsidiaries, fell from CHF 150.9 million to CHF 95.7 million. Net profit after tax fell from around CHF 143 million to CHF 80.2 million.
The portfolio is currently worth CHF 2.1 billion and has an LTV of 30.1%. "Following the sale of the Real Estate Services segment and nine years after our IPO in 2016, we have expanded our portfolio by more than two and a half times," says CEO Stéphane Bonvin. "At the same time, we were able to significantly reduce the debt ratio in relation to this - the loan-to-value (LTV) ratio is 8 percentage points lower than at the time of the IPO." Equity has also increased 2.5-fold in the same period, from CHF 563 million to CHF 1.4 billion.
Rental forecast to be exceeded
For the year as a whole, Investis anticipates significant growth in rental income for 2025 against the backdrop of the acquisitions made in the last 18 months. The company expects to "clearly exceed the annual forecast of +21% made in March". (aw)
