Ina Invest increases operating result – simplification of the company structure will be proposed to the Annual General Meeting - Seite 2

 

As communicated on December 14, 2023, negative, non-cash changes in market value of CHF -16.3 million (2022: CHF +12.8 million) were recorded due to the higher interest rates. The valuation adjustment of around 2% of the portfolio is in line with the general market trend. After taking the revaluation into account, the operating result (EBIT) is CHF -8.8 million (2022: CHF 16.1 million), leading to a net result of CHF -11.2 million (2022: CHF +19.1 million).

 

High quality of the real estate portfolio

The market value of the real estate portfolio stood at CHF 836 million at the end of 2023. With the completion of “HolidayInn Express & Suites” in Allschwil and “Elefant” in Winterthur, these properties were transferred to Ina Invest's property portfolio, which contributed significantly to the increase in rental income. “Garage Grüssen” in Pratteln was also successfully re-let. All 38 apartments sold in the “Tender” in Winterthur were handed over to the condominium owners. Ina Invest's portfolio is of high quality in terms of its locations and the high proportion of residential properties of over 50% (after completion).

 

Development projects on track

The development of key projects reached important milestones in the financial year 2023. Ina Invest received the building permit for the casino in the “Lokstadt-Hallen” in Winterthur, and the operator was granted the concession by the federal government. Construction of the casino will begin in spring 2024. The district plan West for the Bredella project has been submitted to the canton of Basel-Landschaft for approval and Ina Invest is confident that it will receive approval in the first half of 2024. The planning application for “Rue du Valais” in Geneva has been submitted for its transformation into a residential property. “Birspark” in Aesch (BL) was successfully sold after planning permission was granted. The “Tivoli” project (NE) was also sold. These two transactions resulted in a profit contribution of CHF 1.6 million.