BFW Liegenschaften : Preliminary Year End Results 2017

Press Release

2 February 2018

bfw liegenschaften ag publishes preliminary results for Fiscal Year 2017

Frauenfeld, 2 February 2018-bfw liegenschaften ag (SIX Swiss Exchange: BLIN) achieved excellent results for fiscal year 2017, according to preliminary and unaudited results. With EBIT of CHF 22.6 million and earnings including effects from changes in fair value of real estate investments and deferred taxes of CHF 18.0 million, the company achieved again a high level of profitability after the record year 2016.

Net rental income increased by about CHF 0.2 million compared to the previous year and amounted to CHF 17.0 million (previous year CHF 16.8 million). The valuation of the investment portfolio resulted in positive changes in the fair value of real estate investments in the amount of CHF 8.1 million (previous year CHF 13.2 million). According to the preliminary results, bfw liegenschafen ag achieved an EBIT of CHF 22.6 million (previous year CHF 27.3 million).

For the fiscal year 2017, the fair value reflection of the interest rate swaps and receiver swaptions led to a positive effect before taxes of CHF 2.6 million (previous year negative effect of CHF 0.7 million). Considering these fair value changes of the interest rate swaps and receiver swaptions, the earnings including effects from changes in fair value of real estate investments and deferred taxes amounted to about CHF 18.0 million (previous year CHF 18.2 million). Excluding the fair value changes in the interest rate swaps and receiver swaptions, the net earnings will be at approximately CHF 15.9 million (previous year CHF 18.7 million).

The company will publish the Annual Report 2017 and further details on the financial statements on 13 March 2018.

Two residential properties sold with profit in 2018

As of 1 January and 1 February 2018, bfw liegenschaften ag sold two smaller residential properties in Sevelen (Arinstrasse 42) and Aristau (Steinistrasse 3/5, 7/9, 11/13) for a total value of CHF 14.1 million. These transactions result in a non-recurring profit from the sale of real estate of approximately CHF 2 million in fiscal year 2018. The achieved values were 16% and 24%, respectively above the DCF valuation as at 31 December 2017.

Contacts:

Reto Borner	Philipp Hafen
Chief Executive Officer	Chief Financial Officer
[phone]	[phone]
[e-mail]	[e-mail]
Agenda:
13 March 2018	Publication results Fiscal Year 2017 and Annual Report 2017
03 May 2018	Ordinary General Meeting of Shareholders 2018
13 September 2018	Publication of Half-Year Results and Half-Year Report 2018
Information on bfw liegenschaften ag
www.bfwliegenschaften.ch

bfw liegenschaften ag is a real-estate company with headquarters in Frauenfeld in the canton of Thurgau, Switzerland. It focuses on attractive residential properties in commuting areas close to business centres in the German-speaking part of Switzerland. The registered A shares of bfw liegenschaften ag are listed on the SIX Swiss Exchange (Symbol BLIN, Securities Number 1820611, ISIN Number CH 001 820 6117).

THIS PRESS RELEASE IS NOT BEING ISSUED IN THE UNITED STATES OF AMERICA AND SHOULD NOT BE DISTRIBUTED TO UNITED STATES PERSONS OR PUBLICATIONS WITH A GENERAL CIRCULATION IN THE UNITED STATES. THIS DOCUMENT DOES NOT CONSTITUTE AN OFFER OR INVITATION TO SUBSCRIBE FOR OR PURCHASE ANY SECURITIES. IN ADDITION, THE SECURITIES OF BFW LIEGENSCHAFTEN AG HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD OR DELIVERED WITHIN THE UNITED STATES OR TO U.S. PERSONS ABSENT REGISTRATION UNDER OR AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE UNITED STATES SECURITIES LAWS.

bfw liegenschaften ag ∙ Bahnhofstrasse 92 ∙ CH-8500 Frauenfeld

Phone [phone] ∙ Fax [phone] ∙

www.bfwliegenschaften.ch∙ [e-mail]

Page 1 of 1