Ina Invest increases operating result – simplification of the company structure will be proposed to the Annual General Meeting

Ina Invest Holding AG / Key word(s): Annual Results/Real Estate Ina Invest increases operating result – simplification of the company structure will be proposed to the Annual General Meeting 26-Feb-2024 / 07:03 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement.

• Operating result (EBIT) excluding changes in market value reaches CHF 7.5 million, compared with CHF 3.3 million in the previous year
• Completion of projects increases rental income by 34% to CHF 15.2 million
• Higher interest rates lead to a market-related valuation adjustment of CHF -16.3 million or around 2% of the portfolio
• A merger with the subsidiary Ina Invest Ltd and thus the simplification of the company structure will be proposed to the Annual General Meeting
• Confident outlook and commitment to the medium-term targets of a portfolio size of over CHF 2 billion and a return on equity (ROE) of over 6%

Glattpark (Opfikon), 26 February 2024 – Ina Invest, the Swiss real estate company listed on the SIX Swiss Exchange, made progress in the 2023 financial year in a challenging market environment. The portfolio was further developed as planned and the operating result increased significantly compared to the previous year. The valuation adjustment of the portfolio is in line with the general development of the real estate market in Switzerland. Ina Invest sees itself on track to achieve its medium and long-term goals.

 

Significantly higher rental income

Ina Invest generated an operating result (EBIT) excluding changes in market value of CHF 7.5 million in the financial year 2023, compared with CHF 3.3 million in the previous year. This was mainly driven by a 34% increase in rental income to CHF 15.2 million (2022: CHF 11.3 million), partly due to the completion of various projects. In addition, a positive one-off effect of CHF 3 million in connection with the “Bredella” site contributed to the significant increase in the operating result. Other operating expenses were reduced by around 5%. Financial expenses increased as a result of higher debt capital and higher interest rates.