EQS Group-Ad-hoc: INVESTIS Holding SA / Key word(s): Annual Results * Increase in valuation by CHF 79 million underlines the portfolio quality Statement from Stéphane Bonvin, CEO Investis Group: Very good earnings situation under difficult conditions
The Properties segment achieved revenue of CHF 58 million, an increase of 1.6%. Like-for-like rent-al income performed very well, rising +1.6%. This segment achieved an outstanding EBIT of CHF 131 million (CHF 103 million), which represents an increase of 27.3%. This notable result includes revalua-tion effects of CHF 79 million as well as income from disposal of properties of CHF 14 million.
The Real Estate Services segment generated revenue of CHF 125 million, an increase of CHF 9 million compared with the sales-adjusted figure for the previous year (decline in revenue by CHF 21 million). Privera and hauswartprofis both achieved organic growth. This revenue growth was partly due to various acquisitions. In the Property Management segment, rents under management amounted to CHF 1.42 billion (31.12.2019: CHF 1.41 billion). Financial result Income taxes Net profit Very solid balance sheet - gross LTV below 38% The property portfolio, which is focused on residential properties in central locations, was valued CHF 1.49 billion at the end of financial year 2020 (CHF 1.44 billion). In relation to interest-bearing financial liabilities this resulted in a loan-to-value of less than 38% (46%). The property portfolio remains unen-cumbered, and all mortgage notes are held by Investis itself. Net asset value (NAV) per share excluding deferred taxes with regard to properties increased year-on-year to an excellent CHF 74.80 (CHF 67.61). 2021 Annual General Meeting Shareholders are requested to cast their votes in advance by sending their voting instructions to the independent proxy holder. Neither the Chairman of the Board of Directors or Group Management will be making a speech. The event will not be broadcast. Only the independent proxy holder will be al-lowed to cast votes on behalf of shareholders. These measures are being taken to protect the health of shareholders, employees and external service providers. At the General Meeting, Investis shareholders will be asked to approve an increased dividend of CHF 2.50 per share, half of which would be in the form of a repayment from capital contribution reserves. This represents a dividend payout ratio of 28.2%. Following a tender process, the Board of Directors has decided to propose to the General Meeting that KPMG be elected as auditors. Market environment and outlook for 2021 95% of the Investis portfolio is made up of residential property with mid-priced apartments in central locations in the Lake Geneva region. Its focus on this region is the Investis Group's USP. Average rents in Geneva have gone up by 2% in the last 12 months (to CHF 2,350). Average rents in the city of Lausanne are stable at CHF 1,650 per month, only slightly higher than the Swiss average (CHF 1,597). The highly regulated market keeps new investments at a low level, so demand remains high. It is still unclear how the current phenomenon of working from home will impact the size and location of apartments. Investis believes that despite everything, people will still want to live close to city centres. Immigration into Switzerland remains an important driver of demand and of vacancy rates. According to the Federal Office of Statistics, net migration into Switzerland continues to be positive at +11.6% per end-of 2020. Migration flows were subject to strong fluctuations last year. These fluctuations should stabilise as soon as the COVID-19 situation is under control. Investis plans to maintain its expansion through targeted acquisitions in attractive locations, with a focus on the Lake Geneva region. Profitable revenue growth in both activities within the Real Estate Services segment remains the priority coupled with selective acquisitions. Investis believes that in times of uncertainty, companies with a low debt ratio and a stable balance sheet, including low average borrowing costs, will remain in favour of capital markets. Despite COVID-19 and helped by a low interest rate environment that seems to be continuing for the time being, we think that demand for residential properties in central locations in Switzerland will remain healthy, as will demand for providers of high-quality real estate services. Reporting A conference call on the annual results for media and analysts (in English) will be held today at 10.00 a.m. Following the presentation of the annual results, Stéphane Bonvin (CEO) and René Häsler (CFO) will be available to answer questions.
The dial-in numbers are as follows:
Please dial in 5 minutes prior to the start of the conference call. The accompanying presentation is also available on our website from 7.00 a.m. under Investors / Reporting:
Interested parties are also invited to follow the media and analysts conference call via live webcast on our website: End of ad hoc announcement |
Language: | English |
Company: | INVESTIS Holding SA |
Neumühlequai 6 | |
8001 Zürich | |
Switzerland | |
Phone: | +41 58 201 7242 |
E-mail: | laurence.bienz@investisgroup.com |
ISIN: | CH0325094297 |
Listed: | SIX Swiss Exchange |
EQS News ID: | 1177808 |
End of Announcement | EQS Group News Service |
1177808 24-March-2021 CET/CEST