Gratifying Result for 2018 Financial Year
Zurich, 27 February 2019: Net profit including revaluation gains for the 2018 financial year amounted to CHF 161.0 million, representing a gratifying increase over the previous year’s result of CHF 31.8 million or 24.6 percent. At the Shareholders’ Meeting the Board of Directors will propose a higher profit distribution compared to the previous year of CHF 6.50 per share.
Net profit excluding revaluation gains amounted to CHF 115.6 million, representing a 2.0 percent increase over the comparable value the previous year of CHF 113.3 million. In addition to the earnings recorded by the Projects & Development division, excellent Real Estate earnings, especially, contributed toward the very good operating result.
The company expects to report operating net profit for the 2019 financial year in line with that of the previous year.
Owing to the very good result and the emerging stable business trend, the Board of Directors will at the Shareholders’ Meeting scheduled for 12 April 2019 propose a higher profit distribution compared to the previous year of CHF 6.50 per share. The pay-out will be made from capital reserves and, therefore, is tax-free for private Swiss investors. Compared to the closing price on 31 December 2018, the proposed pay-out corresponds to a cash yield of 4.2 percent.