Zug Estates Holding AG

Latest Results (14.08.2024):

Net Income Excluding Revaluation

Zug Estates Holding AG reported a net income excluding revaluation and special effects of CHF 33.9 million for the 2023 financial year. This represents a slight increase of CHF 0.1 million or 0.2% compared to the previous year's figure of CHF 33.8 million. The company managed to maintain stable earnings despite a challenging market environment.

Property Income Growth

Property income for Zug Estates Holding AG increased by CHF 3.5 million or 5.5% in the 2023 financial year, rising from CHF 62.2 million to CHF 65.7 million. This growth was driven by the full-year impact of the Renggli Group acquisition, the purchase of an additional 3.5% of MEG Metalli, and adjustments in index and reference interest rates.

Hotel & Catering Segment

The hotel & catering segment of Zug Estates Holding AG saw an encouraging trend, with income rising from CHF 14.7 million to CHF 15.2 million, a year-on-year increase of CHF 0.5 million or 3.5%. Despite temporary losses due to repositioning, the gross operating profit (GOP) remained stable at 37.8%, nearly matching the previous year's 37.9%.

Operating Income and EBIT

Operating income for Zug Estates Holding AG increased by CHF 4.7 million or 5.8%, from CHF 80.1 million to CHF 84.8 million. However, due to negative revaluation effects, EBIT decreased by CHF 15.4 million or 28.9%, from CHF 53.0 million to CHF 37.6 million. The higher interest rates and a more hesitant transaction market contributed to this decline.

Portfolio Value

The total portfolio value of Zug Estates Holding AG fell slightly by 0.2% or CHF 2.9 million, amounting to CHF 1.83 billion. This slight reduction is attributed to a negative net revaluation result of CHF 11.0 million, which was influenced by an average increase in real discount rates of 15 basis points, representing around 0.6% of the portfolio value of all investment properties.