Zug Estates finishes 2015 with a significant increase in net income
Zug Estates posted a significant increase in net income in 2015. Operating income before depreciation and revaluation rises by 5% to CHF 39.6 million, while income from the revaluation of investment properties (net) amounts to CHF 50.6 million.
In the 2015 financial year, the Zug Estates Group achieved a good operating result before depreciation and revaluation of CHF 39.6 million, 5% more than in the previous year. Income from the revaluation of investment properties (net) rose by CHF 29.3 million year-on-year to CHF 50.6 million. Taking account of the investments and a land consolidation measure totaling CHF 46.9 million, as well as the disposal of properties with a market value of CHF 26.7 million, the market value of the Zug Estates Group's portfolio rose 7% to CHF 1.2 billion as at December 31, 2015.
The successful positioning of the Suurstoffi site in Risch Rotkreuz as a premium residential and business location, the on-schedule completion of phase two of Suurstoffi and successful leases played a major role in the revaluation result. "The valuation reflects the strong appeal of our sites in Zug and Risch Rotkreuz," explained Group CEO Tobias Achermann. "Both the location and nature of our properties give them excellent qualities. Furthermore, our portfolio's usage mix is balanced, with about 30% residential property and significant development reserves, which we will develop over the next few years." Owing to the good operating result and the substantial surplus from the revaluation of investment properties (net), the 2015 figure for net income (over CHF 67 million) will be significantly above the previous year's figure of CHF 45.1 million.
Further information on business in 2015 and the full Annual Report for 2015 will be published on March 11, 2016. |
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About Zug Estates
The Zug Estates Group conceives, develops, markets and manages properties in the Zug region. It focuses on centrally located sites suitable for a wide range of uses and with potential for sustainable development. A large part of the real estate portfolio is located at two sites in Zug and Risch Rotkreuz and is broadly diversified by type of use. The Group also runs a city resort in Zug incorporating the two leading business hotels Parkhotel Zug and City Garden, augmented by a range of restaurant outlets. As at December, 2015, the total portfolio was CHF 1.2 billion.
Zug Estates Holding AG is listed on the SIX Swiss Exchange, Zurich, (ticker symbol: ZUGN; securities number: 14 805 212).
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