Plazza significantly increases operating result in the first half of the year

Due to additional income from a completion in Crissier, Plazza recorded an increase in property income of 32% in the first half of the year. Income from the remaining portfolio rose by around 3%. Operating income before depreciation and revaluation improved by 40% to CHF 15.8 million, while profit including revaluation rose by 24% to CHF 25.3 million. A revaluation gain of CHF 19.5 million contributed to this (previous year: CHF 14.5 million). According to the information provided, the revaluation was due not only to market-related reductions in discount rates, but also to higher earnings expectations. Excluding the valuation result, profit increased by 34% to CHF 12.2 million.

The vacancy rate rose from 6.0 to 6.9% due to the renovation of the Im Tiergarten property in Zurich. According to the annual report, the new properties on the Schönbächler site, although taken over retroactively at the beginning of the year, will only be consolidated from the takeover in June 2025 and therefore had practically no impact on the income statement. In Crissier, all apartments are still rented out, and smaller commercial spaces have also been newly rented - "in a difficult environment", according to the report.

Portfolio now worth 1.2 billion francs

Plazza invested CHF 25.6 million in the first half of the year, mainly for the completion of the first of two phases in Crissier. The value of the real estate portfolio in fixed assets rose from CHF 1.1 billion to CHF 1.2 billion as a result of investments, revaluations and acquisitions. The share of residential properties in target net rental income increased by one percentage point to CHF 85 %.

For the year as a whole, Plazza continues to expect an operating result before depreciation and revaluation of around 10 to 15 % above the previous year. (aw)