bfw liegenschaften ag (SIX Swiss Exchange: BLIN) achieved excellent results for the first half-year 2015, according to preliminary and un-audited results.
Net rental income increased by 18% to CHF 7.8 million (previous year CHF 6.6 million). The increase is mainly due to the property in Zurich (Hönggerstrasse 40 / Röschibachstrasse 22) that was added to the portfolio in January 2015. The valuation of the investment portfolio resulted in positive changes in the fair value of real estate investments in the amount of CHF 6.0 million (previous year CHF 1.6 million). The change in market values is mainly due to a reduction in the discount rate applied by the independent real estate evaluator KPMG and to the successful development of the new building projects. According to the preliminary results, bfw liegenschaften ag achieved a solid EBIT of CHF 12.5 million (previous year CHF 7.0 million).
The fair value reflection of the interest rate swaps and receiver swaptions led to a negative effect before taxes of CHF 1.8 million (previous year negative effect of CHF 3.1 million). Taking into account 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 7.0 million (previous year CHF 1.9 million). Excluding the fair value changes in the interest rate swaps and receiver swaptions, the net earnings will be at approximately CHF 8.5 million (previous year CHF 4.4 million).
The company will publish the 1st Half-Year report and further details on the financial statements on 10 September 2015.
Net rental income increased by 18% to CHF 7.8 million (previous year CHF 6.6 million). The increase is mainly due to the property in Zurich (Hönggerstrasse 40 / Röschibachstrasse 22) that was added to the portfolio in January 2015. The valuation of the investment portfolio resulted in positive changes in the fair value of real estate investments in the amount of CHF 6.0 million (previous year CHF 1.6 million). The change in market values is mainly due to a reduction in the discount rate applied by the independent real estate evaluator KPMG and to the successful development of the new building projects. According to the preliminary results, bfw liegenschaften ag achieved a solid EBIT of CHF 12.5 million (previous year CHF 7.0 million).
The fair value reflection of the interest rate swaps and receiver swaptions led to a negative effect before taxes of CHF 1.8 million (previous year negative effect of CHF 3.1 million). Taking into account 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 7.0 million (previous year CHF 1.9 million). Excluding the fair value changes in the interest rate swaps and receiver swaptions, the net earnings will be at approximately CHF 8.5 million (previous year CHF 4.4 million).
The company will publish the 1st Half-Year report and further details on the financial statements on 10 September 2015.
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