BFW LIEGENSCHAFTEN AG Press Release 31 July 2015
Frauenfeld, 31 July 2015 - 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 1stHalf-Year report and further details on the financial statements on 10 September 2015.
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
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