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5-Year Review

Operating results

 

2018

2017

2016

2015

2014

Properties

 

 

 

 

 

 

Revenue

CHF 1,000

54,983

47,492

41,852

40,760

40,884

EBITDA before revaluations/disposals

CHF 1,000

34,953

32,394

27,293

25,011

26,802

EBIT

CHF 1,000

71,864

58,039

76,679

56,906

37,331

 

 

 

 

 

 

 

Real Estate Services

 

 

 

 

 

 

Revenue

CHF 1,000

147,832

147,637

136,094

131,256

61,100

Of which property management

 

54%

53%

56%

55%

58%

Of which facility services

 

46%

46%

32%

31%

25%

EBIT

CHF 1,000

7,701

7,839

3,892

6,201

4,899

EBIT margin

 

5.2%

5.3%

2.9%

4.7%

8.0%

 

 

 

 

 

 

 

Investis Group

 

 

 

 

 

 

Revenue

CHF 1,000

197,491

189,987

161,916

157,371

91,796

EBITDA before revaluations/disposals

CHF 1,000

39,724

37,311

28,695

29,886

31,381

EBIT

CHF 1,000

74,575

60,871

76,369

60,208

41,199

EBIT margin

 

37.8%

32.0%

47.2%

38.3%

44.9%

Net profit

CHF 1,000

54,376

57,604

45,077

44,569

27,768

Net profit excluding revaluation effect

CHF 1,000

35,576

26,789

9,419

18,187

19,882

Funds from operations (FFO) 1)

CHF 1,000

61,145

29,460

17,844

20,483

22,598

 

 

 

 

 

 

 

Financial position

 

31.12.2018

31.12.2017

31.12.2016

31.12.2015

31.12.2014

Cash and cash equivalents

CHF 1,000

33,245

50,539

52,940

47,983

53,344

Residential investment properties

CHF 1,000

1,146,271

940,629

841,961

745,866

723,161

Commercial investment properties

CHF 1,000

102,729

127,784

113,129

81,045

63,575

Investment properties under construction

CHF 1,000

25,073

14,826

64

3,507

1,025

Undeveloped plots of land

CHF 1,000

1,673

1,673

7,328

12,235

12,085

Properties held for sale

CHF 1,000

69,476

35,805

18,141

14,116

9,805

Total property portfolio

CHF 1,000

1,345,221

1,120,717

980,622

856,769

809,651

Total assets

CHF 1,000

1,423,653

1,238,222

1,099,750

984,451

935,085

 

 

 

 

 

 

 

Shareholdersʼ equity

CHF 1,000

588,511

568,989

557,570

427,411

393,728

Equity ratio

 

41.3%

46.0%

50.7%

43.4%

42.1%

Mortgages and bonds

CHF 1,000

545,631

436,357

325,572

336,105

310,176

Gross LTV

 

41%

39%

33%

39%

38%

Deferred tax liabilities

CHF 1,000

177,639

154,977

145,579

132,539

126,374

 

 

 

 

 

 

 

Average discount rate

 

3.49%

3.62%

3.71%

4.04%

 

Annualised full occupancy property rent

CHF million

57.7

51.5

46.9

41.2

 

Annualised property rent

CHF million

56.0

49.6

45.2

39.8

 

Vacancy rate

 

2.9%

3.5%

3.7%

3.3%

 

 

 

 

 

 

 

 

Number of employees

 

2018

2017

2016

2015

2014

Headcount (as at period end)

 

1,391

1,420

1,146

1,082

1,046

FTE (full-time equivalent, average over the period)

 

1,169

1,143

902

855

364

 

 

 

 

 

 

 

Data per share

 

31.12.2018

31.12.2017

31.12.2016

31.12.2015 2)

31.12.2014 2)

Share ratios

 

 

 

 

 

 

Share capital

CHF 1,000

1,280

1,280

1,280

1,000

1,000

Number of registered shares issued

 

12,800,000

12,800,000

12,800,000

10,000,000

10,000,000

Nominal value per share

CHF

0.10

0.10

0.10

0.10

0.10

 

 

 

 

 

 

 

Share data

 

 

 

 

 

 

NAV per share

CHF

45.89

44.38

43.48

39.69

36.54

NAV per share excluding deferred taxes with regard to properties

CHF

59.59

55.91

54.85

52.93

49.17

Earnings per share (basic/diluted)

CHF

4.27

4.49

3.88

4.16

2.64

Gross dividend 3)

CHF

2.35

2.35

2.35

 

 

Dividend yield 3)

 

3.8%

3.8%

4.1%

 

 

Payout ratio 3)

 

55.4%

52.4%

68.0%

 

 

 

 

 

 

 

 

 

 

 

2018

2017

2016

2015

2014

Share price

 

 

 

 

 

 

Share price – high

CHF

67.80

64.95

61.95

 

 

Share price – low

CHF

56.60

55.40

53.00

 

 

Share price at end of period

CHF

61.80

62.65

57.00

 

 

Average number of shares traded per day

 

1,762

5,562

9,094

 

 

Market capitalisation at end of period

CHF 1,000

791,040

801,920

729,600

 

 

1) FFO is defined as cash flow from operating activities + investments in properties held for sale + interest received less interest paid.

2) In order to enhance comparability, the number of shares as of 31.12.2015 and 31.12.2014 reflect the number of shares of Investis Holding SA when it was incorporated on 7 June 2016. The number of shares of Investis Investments SA (formerly Investis Holding SA) amounted to 1,000,000 shares.

3) Intended distribution per share 2018 in accordance with the proposal to the Annual General Meeting of 29 April 2019.