2023-06-20 16:58:26
The real estate fund recorded an increase of nearly 20% in net income, to 57.3 million francs.
As of March 31, 2023, net income for the year, including current income and expenses, increased by 17.4% to 57.3 million francs, or 3.57 francs per share.
Revenues are up 16.4% compared to the previous year. This increase is mainly due to additional income from acquisitions of the previous year (6.7 million francs), new acquisitions (4.1 million) and construction deliveries (3.9 million). The like-for-like increase in rental conditions contributed positively to this (+1.3%) thanks to the gradual deployment of rental reserves in the portfolio. The work on these rental statements, coupled with proactive vacancy management, resulted in an increase in rental income of 1.4 million francs. Moreover, the new investments have not yet deployed their full potential this financial year and the growth in property income will continue during the next financial year.
As of March 31, 2023, the loss rate on rent stood at 2.01% of the total rental income, including gratuities and losses, compared to a level of 2.25% during the previous financial year. The low level of vacancies highlights the quality of the buildings in the portfolio, their good locations and the manager’s proactive management of reletting issues. Note the significant drop in the vacancy rate of commercial buildings in Corniche 3A/3B in Epalinges (VD) and Champ-Colin 2A-BC in Nyon (VD) following effective marketing activities.
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