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Half-Year Report 2019

PRESS RELEASE HALF-YEAR RESULTS 2019

PRESENTATION OF THE HALF-YEAR RESULTS 2019

Selected key figures

Investis financial key figures

 

30.06.2019

31.12.2018

30.06.2018

Revenue

CHF 1,000

98,615

197,491

97,852

EBITDA before revaluations/disposals 1)

CHF 1,000

22,879

39,724

19,637

EBIT

CHF 1,000

56,007

74,575

29,211

Net profit

CHF 1,000

111,903

54,376

21,706

Net profit excluding revaluation effect

CHF 1,000

33,804

35,576

19,663

Funds from operations (FFO) 2)

CHF 1,000

–532

61,145

26,089

 

 

 

 

 

Total assets

CHF 1,000

1,448,884

1,423,653

1,362,172

Interest-bearing financial debt

CHF 1,000

562,231

545,631

533,727

Gross LTV

 

42%

41%

41%

Deferred tax liabilities

CHF 1,000

119,164

177,639

170,071

Shareholdersʼ equity

CHF 1,000

672,704

588,511

555,662

Equity ratio

 

46.4%

41.3%

40.8%

 

 

 

 

 

Number of employees

 

 

 

 

Headcount (as at period end)

 

1,387

1,391

1,399

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

 

1,156

1,169

1,162

1) EBITDA before revaluations/disposals is defined as operating profit before depreciation and amortisation (EBITDA) less income from revaluations and income from disposal of investment properties.

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

Data per share

 

30.06.2019

31.12.2018

30.06.2018

Share ratios

 

 

 

 

Share capital

CHF 1,000

1,280

1,280

1,280

Number of registered shares issued

 

12,800,000

12,800,000

12,800,000

Nominal value per share

CHF

0.10

0.10

0.10

Share data

 

 

 

 

NAV per share

CHF

52.47

45.89

43.34

NAV per share excluding deferred taxes with regard to properties

CHF

61.62

59.59

56.48

Earnings per share (basic/diluted)

CHF

8.80

4.27

1.70

Share price

 

 

 

 

Share price – high

CHF

69.60

67.80

67.80

Share price – low

CHF

60.20

56.60

59.00

Share price at end of period

CHF

68.00

61.80

59.60

Average number of shares traded per day

 

5,359

1,762

1,844

Market capitalisation at end of period

CHF 1,000

870,400

791,040

762,880

Properties key figures

 

30.06.2019

31.12.2018

30.06.2018

Residential investment properties

CHF 1,000

1,157,912

1,146,271

1,113,964

Commercial investment properties

CHF 1,000

101,240

102,729

103,674

Investment properties under construction

CHF 1,000

16,699

25,073

16,933

Undeveloped plots of land

CHF 1,000

1,673

1,673

Properties held for sale

CHF 1,000

45,340

69,476

52,489

Investment in real estate company

CHF 1,000

18,486

Total property portfolio

CHF 1,000

1,339,677

1,345,221

1,288,732

 

 

 

 

 

Total buildings

 

154

157

159

Total residential units

 

2,872

2,911

2,911

Average discount rate

 

3.44%

3.49%

3.58%

 

 

 

 

 

Revenue

CHF 1,000

28,050

54,983

26,970

Like-for-like rental growth

 

0.7%

1.7%

1.0%

EBITDA before revaluations/disposals

CHF 1,000

18,118

34,953

17,473

EBIT

CHF 1,000

52,440

71,864

28,035

 

 

 

 

 

Annualised full occupancy property rent

CHF million

56.6

57.7

57.2

Annualised property rent

CHF million

55.4

56.0

55.8

Vacancy rate

 

2.1%

2.9%

2.5%

Real Estate Services key figures

 

30.06.2019

31.12.2018

30.06.2018

Rents under management

CHF billion

1.76

1.74

1.68

 

 

 

 

 

Revenue

CHF 1,000

73,569

147,832

73,168

Of which property management

 

54%

54%

53%

Of which facility services

 

45%

46%

47%

Of which other

 

1%

0%

0%

EBIT

CHF 1,000

6,078

7,701

3,650

EBIT margin

 

8.3%

5.2%

5.0%