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Tag: Fundamenta Real Estate AG

  • Fundamenta Real Estate is growing at double digits

    Fundamenta Real Estate is growing at double digits

    According to a statement from Fundamenta Real Estate AG , the Zug-based real estate company generated net rental income totaling 17.9 million francs in the first half of 2021. In a year-on-year comparison, this corresponds to growth of 10.6 percent. The communication cites the completion of projects and the purchase of new properties as growth drivers. In addition, the company was able to reduce its vacancy rate year-on-year by 0.8 percentage points to 2.7 percent.

    The net profit in the reporting semester was 12.0 million francs, 36.7 percent more than in the first half of 2020. "The strong profit growth" is mainly due to the good operational development and a revaluation success of 5.3 million francs, writes Fundamenta Real estate. The company also points to a “disproportionate increase in operating expenses”.

    The balance sheet value of Fundamenta Real Estate's real estate portfolio exceeded the billion mark for the first time on June 30, 2021. Compared to the end of 2020, the value increased from CHF 991.9 million to a good CHF 1.06 billion. The company acquired three properties in the reporting semester and transferred two projects to the portfolio after completion. As of the reporting date, the portfolio comprised a total of 66 existing properties and two development projects. In July, Fundamenta Real Estate acquired another residential property with 13 residential units in Richterswil ZH.

  • Fundamenta Real Estate AG completes capital increase

    Fundamenta Real Estate AG completes capital increase

    Fundamenta Real Estate AG placed 5,010,472 new shares on the stock exchange as part of a capital increase. The existing shareholders exercised their subscription rights. They acquired the shares at a price of CHF 18.35 each. As a result, the Zug-based real estate company took in CHF 88.5 million and was able to successfully complete its capital increase to the maximum extent, according to a media release .

    The company intends to invest the proceeds in new and modernization of existing properties and to use them to consolidate the balance sheet structure.

    The first trading day for the new shares and the delivery of the shares against payment of the subscription and placement price is scheduled for April 27, 2021.

    Zürcher Kantonalbank acted as lead manager of the transaction and Luzerner Kantonalbank acted as co-lead manager. Fundamenta Group AG was responsible for project management and the placement of the shares.

  • Fundamenta Real Estate posts record profit

    Fundamenta Real Estate posts record profit

    According to a release from Fundamenta Real Estate AG , the Zug-based real estate company generated net rental income of CHF 33.47 million in the 2020 financial year. In a year-on-year comparison, this corresponds to growth of 13.4 percent. The announcement mentions the purchase of two new properties and the completion of three of its own projects as growth drivers. In addition, the company was able to reduce its vacancy rate year-on-year by 0.2 percentage points to 3.5 percent.

    A new record of CHF 26.69 million was reported as net profit in the 2020 reporting year. In the previous year, a net profit of CHF 22.51 million was realized. In the year under review, a slightly lower revaluation effect than in the previous year was more than offset by “an excellent operating result” and the sale of three properties, explains the real estate company.

    "The stability of our real estate portfolio, which is dominated by residential space, has also been shown in this special year," Andreas Spahni, President and Delegate of the Board of Directors, is quoted in the press release. "The corona crisis only had a marginal effect on the result."

    The balance sheet value of Fundamenta Real Estate's real estate portfolio rose from CHF 908.91 million to CHF 991.94 million in the course of the year under review. In February of this year, the company acquired another residential property. In addition, the “further repositioning of two existing properties in Zurich and one property in Bern” has started, according to the announcement. Fundamenta Real Estate plans to carry out a capital increase this year to finance ongoing projects. Details are to be communicated after the General Assembly on April 8th.