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Tag: Novavest

  • Novavest is growing profitably

    Novavest is growing profitably

    According to a notification from Novavest Real Estate AG , the value of the real estate company's real estate portfolio as of June 30th of this year was CHF 664.3 million. At the end of 2020, the value was 645.4 million francs. The growth was generated primarily through investments in investment properties and projects, explains Novavest. Revaluations contributed CHF 6.3 million to the portfolio's increase in value.

    Rental entries increased by 8 percent year-on-year to CHF 12.6 million. Around 62 percent of rental income is currently generated by residential properties, informs Novavest. The net return on investment properties was unchanged at 3.7 percent in the reporting semester. Compared to the end of 2020, the vacancy rate increased by 0.3 percentage points to 4.3 percent.

    The income was offset by direct expenses for rented properties amounting to CHF 2.0 million. Overall, Novavest's expenses increased by 6 percent year-on-year to CHF 4.4 million. The bottom line was an operating result at EBIT level of 14.5 million francs. In a year-on-year comparison, this corresponds to an increase of 29 percent. At 10.6 million francs, net profit including revaluations was 30 percent higher than in the same period of the previous year.

  • Novavest completes capital increase

    Novavest completes capital increase

    Novavest has completed a further capital increase from existing authorized capital, the real estate company informs in a message . Specifically, 642,619 new registered shares were subscribed at the subscription price of 42.05 francs each during the subscription rights trading between June 14 and 23. Novavest intends to use the approximately 27.0 million francs it has brought in to expand its portfolio of residential properties.

    During the capital increase, existing shareholders of Novavest Real Estate AG were granted the right to purchase one new share for every eleven registered shares already held. The offer was also met with "great interest from both institutional and private investors," writes the company. As a result, Novavest was able to expand its shareholder base.

    After the capital increase, Novavest's share capital will amount to 207.4 million francs, the announcement further explains. Just last December, Novavest raised around CHF 28.6 million in a capital increase. These funds were also used to expand the company's own real estate portfolio. At the end of May, the company then lowered the nominal value of its shares by 1.65 francs to 26.90 francs.