Allreal is on course despite the Corona crisis
The real estate company Allreal achieved rental income in 2020 at the level of the previous year despite the Corona crisis. The vacancy rate has even fallen further. However, the company's profit has been lower.
Allreal achieved rental income of CHF 200.4 million last year, according to a statement . The company was thus able to maintain the level from the previous year despite the Corona crisis. In 2019, it had received 203.1 million francs from rents.
In the spring, Allreal stated that it was able to agree on rent waivers in connection with the lockdown with all affected tenants. In total, the company has granted rent leases amounting to 1.5 million francs.
The cumulative vacancy rate has meanwhile fallen by 0.8 percentage points to 1.4 percent despite the crisis. According to the information, it is at the lowest level that Allreal has ever reached.
The company result including the revaluation effect is 167.2 million francs after 243.2 million francs in the previous year. Excluding the revaluation effect, the company result is 124.7 million francs after 142 million francs in the previous year. Allreal explains the decline primarily with one-off effects from the sale of development properties.
According to the announcement, Allreal is satisfied with its annual result and expects overall “stable business development” in the long term. The Board of Directors is therefore proposing to the General Meeting of Shareholders a stable distribution at the previous year's level of 6.75 francs per share.
Allreal is based in Glattpark in Opfikon. The company is listed on the SIX Swiss Exchange.