BFW LIEGENSCHAFTEN AG Press Release 29 January 2016
Frauenfeld, 29 January 2016 - bfw liegenschaften ag (SIX Swiss Exchange: BLIN) achieved very good results for fiscal year 2015, according to preliminary and un-audited results.
Net rental income increased by 17% to CHF 19.1 million (previous year CHF 16.3 million), and earnings from rental income rose by 22% to CHF 15.9 million (previous year CHF 13.0 million). The increases are mainly due to the property in Zurich (Hönggerstrasse 40 / Röschibachstrasse 22) that was added to the portfolio in January 2015 and due to the new building projects which were completed during fiscal year 2015. The valuation of the investment portfolio resulted in positive changes in the fair value of real estate investments in the amount of CHF 6.4 million (previous year CHF 3.6 million). The change in market values is mainly due to a reduction in the discount rate applied by the independent real estate evaluator KPMG on residential and residential/commercial properties as well as due to the successful development of the conversion projects and the completion of the new building projects. According to the preliminary results, bfw liegenschaften ag achieved a solid EBIT of CHF 19.5 million (previous year CHF 14.1 million).
The fair value reflection of the interest rate swaps and receiver swaptions led to a negative effect before taxes of CHF 2.9 million (previous year negative effect of CHF 7.6 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 CHF 10.2 million (previous year CHF 2.8 million). Excluding the fair value changes in the interest rate swaps and receiver swaptions, the net earnings amount to approximately CHF 12.6 million (previous year CHF 9.1 million).
The company will publish its Annual Report and further details on the Financial Statements 2015 on 16 March 2016.
Beat Frischknecht Reto Borner
Chief Executive Officer Chief Financial Officer
+41 52 728 01 02 +41 52 728 01 06
beat.frischknecht@bfwliegenschaften.chreto.borner@bfwliegenschaften.ch
www.bfwliegenschaften.ch
bfw liegenschaften ag is a real-estate company with headquarters in Frauenfeld in the canton of Thurgau, Switzerland. It focuses on attractive residential properties in commuting areas close to business centres in the German-speaking part of Switzerland. The registered A shares of bfw liegenschaften ag are listed on the SIX Swiss Exchange (Symbol BLIN, Securities Number 1820611, ISIN Number CH 001 820 6117).
THIS PRESS RELEASE IS NOT BEING ISSUED IN THE UNITED STATES OF AMERICA AND SHOULD NOT BE DISTRIBUTED TO UNITED STATES PERSONS OR PUBLICATIONS WITH A GENERAL CIRCULATION IN THE UNITED STATES. THIS DOCUMENT DOES NOT CONSTITUTE AN OFFER OR INVITATION TO SUBSCRIBE FOR OR PURCHASE ANY SECURITIES. IN ADDITION, THE SECURITIES OF BFW LIEGENSCHAFTEN AG HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD OR DELIVERED WITHIN THE UNITED STATES OR TO U.S. PERSONS ABSENT REGISTRATION UNDER OR AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE UNITED STATES SECURITIES LAWS.
www.bfwliegenschaften.ch ∙ info@bfwliegenschaften.ch
BFW Liegenschaften AG issued this content on 29 January 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 29 January 2016 08:13:05 UTC
