bfw liegenschaften ag publishes preliminary results for Fiscal Year 2017



bfw liegenschaften ag publishes preliminary results for Fiscal Year 2017
bfw liegenschaften ag (SIX Swiss Exchange: BLIN) achieved excellent results for fiscal year 2017, according to preliminary and unaudited results. With EBIT of CHF 22.6 million and earnings including effects from changes in fair value of real estate investments and deferred taxes of CHF 18.0 million, the
company achieved again a high level of profitability after the record year 2016.

Net rental income increased by about CHF 0.2 million compared to the previous year and amounted to CHF 17.0 million (previous year CHF 16.8 million). The valuation of the investment portfolio resulted in positive changes in the fair value of real estate investments in the amount of CHF 8.1 million (previous year CHF 13.2 million).

According to the preliminary results, bfw liegenschafen ag achieved an EBIT of CHF 22.6 million (previous year CHF 27.3 million).

For the fiscal year 2017, the fair value reflection of the interest rate swaps and receiver swaptions led to a positive effect before taxes of CHF 2.6 million (previous year negative effect of CHF 0.7 million). Considering these fair value changes of the interest rate swaps and receiver swaptions, the earnings including effects from changes in fair value of real estate investments and deferred taxes amounted to about CHF 18.0 million (previous year CHF 18.2 million). Excluding the fair value changes in the interest rate swaps and receiver swaptions, the net earnings will be at approximately CHF 15.9 million (previous year CHF 18.7 million).

The company will publish the Annual Report 2017 and further details on the financial statements on 13 March 2018.


Two residential properties sold with profit in 2018

As of 1 January and 1 February 2018, bfw liegenschaften ag sold two smaller residential properties in Sevelen (Arinstrasse 42) and Aristau (Steinistrasse 3/5, 7/9, 11/13) for a total value of CHF 14.1 million. These transactions result in a non-recurring profit from the sale of real estate of approximately CHF 2 million in fiscal year 2018. The achieved values were 16% and 24%, respectively above the DCF valuation as at 31 December
2017.

05/02/2018


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