Over the staggered 2021-2022 financial year, rental income increased by 2.9% to 80.7 million francs, while maintenance costs fell by 3%.
The Immofonds real estate fund recorded higher results over the staggered 2021-2022 financial year, ending at the end of June. The distribution to shareholders remains unchanged at 13.50 francs. A capital increase is also planned.
Over the past financial year, rental income increased by 2.9% to 80.7 million francs, while maintenance costs fell by 3%, detailed the Zurich company on Tuesday in a press release.
Net income suddenly increased by 1.8% to 48.8 million and the total result reached 151.6 million (+45.1%). The fund’s net asset value rose by 8.1% to CHF 397.05 per share.
At the portfolio level, the market value of buildings increased by 9.8% to 1.99 billion and the total fund assets by 10% to 2.0 billion.
At the same time, the company announced the start of the subscription period for the capital increase of the Immofonds suburban fund, for a maximum amount of 42.6 million francs, on Thursday. The sums raised “will be allocated to the further development of the new real estate portfolio”, specified the company. Closing of the transaction is expected on September 28.
The subscription price amounts to 106.50 francs net per new Immofonds suburban unit. No formal trading of subscription rights will take place.
Immofonds, which invests only in Swiss real estate securities, was created in 1955 and is one of the ten largest real estate funds listed on the Swiss Stock Exchange.