(AWP) The real estate company Hiag (HIAG 104.50 -0.95%) returned to the black last year and wants to pay out a dividend again. The company is confident about 2021.
Operationally, Hiag 2020 went well. The site developer achieved a profit of 55.2 million francs after a minus of 70.7 million in the previous year, as stated in a statement on Monday.
The property income amounted to CHF 59.7 million and was thus 5.2% below the previous year’s figure. However, new contracts, progress in project developments and an acquisition made a revaluation of CHF 27 million possible after a write-off of CHF 16.8 million in the previous year.
In 2019, the bankruptcy of the major tenant Rohner and the exit from the failed IT project of the subsidiary Hiag Data resulted in a major loss for the real estate company.
The value of the total portfolio with 116 properties rose by 4.5% to CHF 1.64 billion at the end of 2020. The vacancy rate was reduced by 3 percentage points to 13.2%.
Corona costs are kept within limits
The direct impact of the pandemic on the 2020 result was limited with CHF 0.3 million of the property income received or 0.4% of the annualized property income. In addition, rent waivers totaling CHF 0.1 million were granted. The result in connection with the measures ordered by the authorities at the end of 2020 was also burdened with CHF 0.2 million. Hiag also granted just under 0.1 million rent deferrals. The outstanding rent claims in connection with the lockdown corresponded to around 0.5 million. Most of them are secured with rent guarantees.
The shareholders are now to receive a dividend of CHF 2.30 for 2020. Half of the distribution is to be made from the reserves from capital contributions and half as an ordinary dividend. For 2019, the shareholders went away empty-handed.
In the current year, Hiag is aiming for a further increase in rental income. The vacancy rate in the existing portfolio is to be reduced again. Project progress at various locations would again offer potential for a positive effect from revaluations. In addition, the portfolio is to be continuously upgraded with acquisitions and the current market environment is also to be used for targeted sales.
You can find the complete history of Hiag here. »
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