SF Urban Properties can increase profits
SF Urban Properties AG was able to significantly increase operating and net profit in 2020 compared to the previous year. The reason for this is the sale of a property and low vacancy rates in the property portfolio. In the current year, the company intends to continue to invest primarily in Zurich and Basel.
Despite the pandemic, SF Urban Properties AG can look back on “a gratifying 2020 financial year”, writes the real estate company belonging to Swiss Finance & Property Group AG in a press release . Specifically, the company was able to increase its operating result at EBIT level from 27.0 million to 32.0 million francs year-on-year. The net profit before revaluations increased by 92.8 percent compared to 2019 to 23.0 million francs. Net profit including revaluations improved by 23.8 percent to 23.0 million francs.
As a background for the good developments, SF Urban Properties cites the successful sale of a property and the vacancy rate, which was kept at a low 2.62 percent despite the pandemic. As in the previous year, shareholders are to be paid a dividend of CHF 3.60 per listed ordinary share. With an equity ratio of 46.4 percent, the company continues to be “robustly financed,” writes SF Urban Properties.
In the current year, the real estate company intends to concentrate on the economic areas of Zurich and Basel as before. In the year under review, SF Urban Properties was able to successfully market the Sandreutergarten residential development planned in Riehen BS, the real estate company reports. Nine out of ten of the units under construction since the end of 2020 have already been sold. In the development project at Klusstrasse 38 in Zurich, twelve of a total of 13 units were reserved in the reporting year and two of them had already been legally sold.