EQS Group-Media / 2019-08-19 / 09:29
*Media Release*
*HSC Real Estate Fund with good half-year **results 2019*
*Zurich, 19. August 2019 - The Helvetica Swiss Commercial (HSC) fund breaks
the 500 million Swiss franc barrier with total fund assets of 513 million
Swiss francs. With increased income and profit, the HSC Fund successfully
closed the first six months. *
In the first half of 2019, the HSC Fund continued to grow. The significantly
oversubscribed capital increase in March generated equity proceeds of 76
million Swiss francs, of which the majority has already been invested in two
attractive properties. With the two recent acquisitions, the portfolio grew
from 22 to 24 properties. The total fund assets amounted to 513 million
Swiss francs (30 June 2018: 373 million Swiss francs). The market value of
the portfolio as at 30 June 2019 was 487 million Swiss francs (30 June 2018:
264 million Swiss francs). The average lease duration was increased by 37%
from 3.3 years to 4.5 years as a result of acquisitions, new lettings and
lease extensions. The HSC Fund portfolio continues to generate solid revenue
which supports the long-term dividend strategy of the HSC Fund.
*Half-year results 2019 in detail*
Income statement
Net income before liquidation taxes was 8.9 million Swiss francs (30 June
2018: 7.4 million Swiss francs). The increase of 1.5 million Swiss francs
(19.6%) compared to the same period last year was primarily due to higher
rental income from the acquisition of new properties. Due to the
acquisitions in the second quarter, the liquidation tax provisions were
increased by 1.9 million Swiss francs. Total comprehensive income for the
period ended 30 June 2019 amounted to 11 million Swiss francs, an increase
of 1.9 million Swiss francs (21.1%) over the same period last year.
The operating profit margin decreased by 11.2% from 77.6% as of 30 June 2018
to 66.4% due to accumulated investments. In the first half of the year, 1.5
million Swiss francs were invested in maintenance and repairs (30 June 2018:
0.1 million Swiss francs). Increased investments in tenant improvements,
tenant fittings and maintenance enabled new tenants to be acquired and
existing leases to be extended.
Balance sheet
As a result of the capital increase and the resulting acquisitions, total
fund assets increased by 140 million Swiss francs to 513 million Swiss
francs compared to previous period. The portfolio was expanded from 13 to 24
properties between 30 June 2018 and 30 June 2019. Net fund assets rose from
298 million Swiss francs to 379 million Swiss francs in the reporting
period. This corresponds to an increase of 27.1%. The increase resulted
mainly from the capital increase in March and rental income. The debt
financing ratio increased slightly from 22.72% as of 30 June 2018 to 23.40%
as of 30 June but is still below the limit of 33% in the fund agreement.
Provisions for deferred liquidation taxes increased from 5.6 million Swiss
francs to 9.7 million Swiss francs in the reporting period.
Events after the balance sheet date
In July, the property in Vevey, which was acquired in July 2018 for 6.2
million Swiss francs, was sold for 8.9 million Swiss francs. This results in
a profit of 2.6 million Swiss francs, which was included in the valuation as
at 30 June.
Outlook 2019
The fund management company aims to further expand and diversify the
portfolio in line with the investment strategy. The growth plan also
provides for a further capital increase in September 2019 to acquire
additional assets. Listing on the SIX -Swiss Exchange is planned for the
fourth quarter. In the meantime, the fund will continue to be traded over
the counter by Banque Cantonale Vaudoise, Lausanne.
Details of the capital increase will be provided in a separate announcement.
*FOR MORE INFORMATION*
Hans R. Holdener
CEO
T: + 41 43 544 70 80
hrh@helveticaproperty.com
All press releases can be found at www.HelveticaProperty.com [1]
Peter R. Vogel
CFO, Head Corporate Services
T: + 41 43 544 70 84
prv@helveticaproperty.com
Financial reports are available on the Fund Management Company's website
www.HelveticaProperty.com or www.swissfunddata.ch.
*Key financial figures*
*Key data* *Notes* *30.06.2019* *30.06.2018*
Securities number 33550793 33550793
Initiation date 09.12.2016 09.12.2016
Issued shares Number 694 856 1 544 125
Outstanding shares Number 3 474 281 2 779 425
Redeemed shares Number - -
NAV per share CHF 109.16 107.33
Weighted real discount
rate % 4.01 4.16
*Statement of assets*
Market value of the
properties CHF 1 487 109 000 264 060 000
Gross Asset Value (GAV) CHF 513 325 580 373 215 448
Debt financing ratio % 23.40 22.72
Debt ratio % 26.12 20.07
Residual term debt
financing Years 1.39 3.43
Interest rate debt
financing % 8 0.63 0.79
Net Asset Value NAV) CHF 379 247 802 298 308 331
*Income statement*
Rental Income CHF 12 936 360 6 874 612
Net Income CHF 15 8 877 165 7 421 064
Rental income loss rate % 7.56 7.91
Weighted average
unexpired lease term
(WAULT) Years 4.50 3.29
Maintenance and repairs CHF 1 457 704 121 350
Operating profit margin % 66.36 77.59
*About Helvetica Property Investors AG*
Helvetica Property Investors is an independent partner-owned and managed
real estate fund management company regulated by the Swiss Financial Market
Supervisory Authority FINMA. Helvetica Property Investors offers the full
spectrum of real estate investments, including investment strategies,
investment property selection, deal structuring, acquisitions, financing,
portfolio management and sales. The firm offers both direct and indirect
real estate investments in Switzerland on behalf of its clients. Helvetica
Property Investors acts as fund and asset manager for the Helvetica Swiss
Commercial real estate fund.
/ / / / / /
*About Helvetica Swiss Commercial Real Estate Fund*
The Helvetica Swiss Commercial real estate fund («HSC») and is an open
contractual real estate investment fund under Swiss law open to all
investors. The fund is suited for long-term value investors interested in a
stable and consistent cash-flow. The fund invests in commercial properties
with value appreciation potential across the most dynamic economic regions
in Switzerland. The focus is on potentially undervalued properties with an
attractive cash-flow yield. The fund manager pursues an active hands-on
management approach to unlock and realize hidden potential in the properties
by means of revitalization, renovations, vacancy reductions and lease
extensions. The long-term goal is to build a broadly diversified portfolio
by region, type of use, object size and tenant mix.
Additional features:
Document: http://n.eqs.com/c/fncls.ssp?u=XOIVYGMAGG [2]
Document title: HSC Fund with successful first half year 2019
Issuer: Helvetica Property Investors AG
Key word(s): Real estate
End of Corporate News
Language: English
Company: Helvetica Property Investors AG
Gartenstrasse 23
8002 Zürich
Switzerland
Phone: +41 43 544 7080
E-mail: office@helveticaproperty.com
Internet: www.HelveticaProperty.com
ISIN: CH0335507932
Valor: A2DXEX
Listed: SIX Swiss Exchange
EQS News ID: 859275
End of News EQS Group Media
859275 2019-08-19
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=213ad5750194aee16a7109422e93d682&application_id=859275&site_id=vwd&application_name=news
2: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=52583a4779b71059ba3c419fc33f23c6&application_id=859275&site_id=vwd&application_name=news
(END) Dow Jones Newswires
August 19, 2019 03:30 ET (07:30 GMT)
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