Annual Rental income at CHF 24 million (–27%) due to sales – Sale of seven investment properties in the amount of CHF 57 million, thereof six non-strategic - Withdrawal from the Dutch market successfully completed - Negative valuation of the portfolio CHF 153 million due adjusted assumptions and transaction in France – Improved vacancy rates in Switzerland and Germany
The Compensation Report has been drawn up on the basis of articles 14 to 16 of the Ordinance against excessive pay in listed companies. It replaces the disclosures pursuant to Art. 663 of the Swiss Code of Obligations previously provided in the parent company financial statements of Züblin Immobilien Holding AG.
Net loss of CHF 212 million compared with loss of CHF 64 million in the prior-year period influenced by special items – French business disclosed as discontinued operation with a loss of CHF 128 million – SNB decision caused negative swap valuations (CHF 14 million) and currency translation losses (CHF 18 million) – Equity ratio reduced to 5% Bonds in the amount of CHF 23 million were tendered - LTV increased from 61.3% to 69.3 % – NAV per share CHF 0.40 compared to CHF 3.03 one year ago – Operating result in Switzerland and Germany stable