Fundamenta Real Estate reports strong operating result
Fundamenta Real Estate increased its operating result by 12.4 percent to CHF 19.9 million in 2022. The net profit was 22.3 million Swiss francs. The real estate portfolio was expanded by 10.7 percent to CHF 1216.4 million.
According to a media release, the real estate company Fundamenta Real Estate in Zug increased its operating result in 2022 and maintained the value of its real estate portfolio at over CHF 1 billion. This billion mark had been exceeded for the first time at the end of 2021. It now stands at 1216.4 million francs, according to the annual report for 2022, 10.7 per cent higher than the previous year.
Fundamenta Real Estate’s operating result rose by 12.4 percent to CHF 19.9 million. Net profit, also due to positive revaluation effects, was CHF 22.3 million. Net actual rental income increased by 10 percent to 40.9 million Swiss francs and thus exceeded the 40 million mark for the first time. In the previous year, it was 37.2 million francs. The company also points to a record low vacancy rate of only 1.6 per cent compared to 2.5 per cent in 2021. This and the acquisition of six existing properties, the completion of a development project and its transfer to the portfolio had contributed to the high net actual rental income.
After the share price had increased by a total of 26.7 percent in the two previous years, it fell by 17.2 percent to CHF 16.10 (previous year: CHF 19.45) in the reporting period due to market conditions. The market capitalisation at the end of the year was 484 million Swiss francs compared to 584.7 million a year earlier.
For the 2022 business year, the Board of Directors will again propose a distribution of CHF 0.55 per share at the Annual General Meeting on 5 April, as in the previous year. The entire Board of Directors (BoD) will stand for re-election at the Annual General Meeting. Board member Herbert Stoop has announced that he will not stand for re-election at the 2024 general meeting.