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5-Year Review

Operating results

 

2020

2019

2018

2017

2016

Properties

 

 

 

 

 

 

Revenue

CHF 1,000

57,869

56,980

54,983

47,492

41,852

EBITDA before revaluations/disposals 1)

CHF 1,000

37,226

37,768

34,953

32,394

27,293

EBIT

CHF 1,000

130,593

102,549

71,864

58,039

76,679

 

 

 

 

 

 

 

Real Estate Services

 

 

 

 

 

 

Revenue

CHF 1,000

124,605

135,967

147,832

147,637

136,094

of which property management

 

48%

51%

54%

53%

56%

of which facility services

 

52%

48%

46%

46%

32%

EBIT

CHF 1,000

10,763

11,489

7,701

7,839

3,892

EBIT margin

 

8.6%

8.4%

5.2%

5.3%

2.9%

 

 

 

 

 

 

 

Investis Group

 

 

 

 

 

 

Revenue

CHF 1,000

178,689

187,509

197,491

189,987

161,916

EBITDA before revaluations/disposals 1)

CHF 1,000

45,523

46,665

39,724

37,311

28,695

EBIT

CHF 1,000

136,216

127,159

74,575

60,871

76,369

EBIT margin

 

76.2%

67.8%

37.8%

32.0%

47.2%

Net profit

CHF 1,000

113,596

172,825

54,376

57,604

45,077

Net profit excluding revaluation effect 1)

CHF 1,000

45,083

69,535

35,576

26,789

9,419

Funds from operations (FFO) 1)

CHF 1,000

37,423

16,093

61,145

29,460

17,844

 

 

 

 

 

 

 

Financial position

 

31.12.2020

31.12.2019

31.12.2018

31.12.2017

31.12.2016

Cash and cash equivalents

CHF 1,000

14,654

65,830

33,245

50,539

52,940

Residential investment properties

CHF 1,000

1,365,595

1,260,330

1,146,271

940,629

841,961

Commercial investment properties

CHF 1,000

75,153

127,713

102,729

127,784

113,129

Investment properties under construction

CHF 1,000

27,706

8,765

25,073

14,826

64

Undeveloped plots of land

CHF 1,000

-

-

1,673

1,673

7,328

Properties held for sale

CHF 1,000

21,501

40,965

69,476

35,805

18,141

Total property portfolio

CHF 1,000

1,489,955

1,437,774

1,345,221

1,120,717

980,622

Total assets

CHF 1,000

1,555,986

1,565,564

1,423,653

1,238,222

1,099,750

 

 

 

 

 

 

 

Shareholdersʼ equity

CHF 1,000

821,952

739,981

588,511

568,989

557,570

Equity ratio

 

52.8%

47.3%

41.3%

46.0%

50.7%

Bonds and mortgages

CHF 1,000

560,000

660,000

545,631

436,357

325,572

Gross LTV 1)

 

38%

46%

41%

39%

33%

Deferred tax liabilities

CHF 1,000

137,752

127,197

177,639

154,977

145,579

 

Financial position

 

31.12.2020

31.12.2019

31.12.2018

31.12.2017

31.12.2016

Average discount rate

 

3.15%

3.43%

3.49%

3.62%

3.71%

Annualised full occupancy property rent

CHF million

58.6

61.2

57.7

51.5

46.9

Annualised property rent

CHF million

56.8

59.2

56.0

49.6

45.2

Vacancy rate

 

3.0%

3.2%

2.9%

3.5%

3.7%

 

 

 

 

 

 

 

Number of employees

 

2020

2019

2018

2017

2016

Headcount (as at period end)

 

1,321

1,229

1,391

1,420

1,146

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

 

1,034

1,081

1,169

1,143

902

 

 

 

 

 

 

 

Data per share

 

31.12.2020

31.12.2019

31.12.2018

31.12.2017

31.12.2016

Share data

 

 

 

 

 

 

Share capital

CHF

1,280,000

1,280,000

1,280,000

1,280,000

1,280,000

Number of registered shares issued

 

12,800,000

12,800,000

12,800,000

12,800,000

12,800,000

Nominal value per share

CHF

0.10

0.10

0.10

0.10

0.10

 

 

 

 

 

 

 

NAV per share 1)

CHF

64.13

57.74

45.89

44.38

43.48

NAV per share excluding deferred taxes with regard to properties 1)

CHF

74.80

67.61

59.59

55.91

54.85

Earnings per share (basic/diluted)

CHF

8.91

13.59

4.27

4.49

3.88

Gross dividend per share 2)

CHF

2.50

2.35

2.35

2.35

2.35

Dividend yield 1, 2)

 

2.7%

2.9%

3.8%

3.8%

4.1%

Payout ratio 1, 2)

 

28.2%

17.4%

55.4%

52.4%

68.0%

 

 

 

 

 

 

 

 

 

2020

2019

2018

2017

2016

Share price

 

 

 

 

 

 

Share price – high

CHF

91.60

81.60

67.80

64.95

61.95

Share price – low

CHF

70.20

60.20

56.60

55.40

53.00

Share price at end of period

CHF

91.40

81.20

61.80

62.65

57.00

Average number of shares traded per day

 

2,488

4,497

1,762

5,562

9,094

Market capitalisation at end of period

CHF million

1,170

1,039

791

802

730

1) The section “Alternative Performance Measures” includes definitions of performance measures that are not defined under Swiss GAAP FER.

2) Intended distribution 2020 in accordance with the proposal to the Annual General Meeting of 27 April 2021.