Reporting

Gratifying result in 2020 financial year despite coronavirus

Glattpark, 24 February 2021: Allreal’s net profit for the 2020 financial year was gratifying despite the challenges posed by the coronavirus pandemic. The company’s net profit including revaluation effect amounted to CHF 167.2 million (2019: CHF 243.2 million), with revaluation gains positively impacting the total as in the previous year. The Board of Directors will propose profit distribution of CHF 6.75 per share – in line with the previous year – at the Annual General Meeting of Shareholders.

In response to the outbreak of the coronavirus pandemic and the subsequent officially prescribed regulations, Allreal was faced with numerous requests for deferral or waiver of rent payments. The company sought quick and uncomplicated individual solutions with tenants of office or commercial space, who suddenly had run into payment difficulties. Allreal came to an agreement with every single tenant who was struggling during the lockdown in spring 2020, and waived rent payments amounting to CHF 1.5 million.

If revaluation gains are excluded, the company managed to record a decent net profit of CHF 124.7 million (2019: CHF 142.0 million). This decrease of 12.2 percent is largely down to one-off effects from selling development properties in the previous year.

Based on the good result and the stable business development expected in the long term and considering the short-term uncertainty caused by the coronavirus pandemic, the Board of Directors will propose profit distribution of CHF 6.75 per share – in line with the previous year – at the Annual General Meeting of Share-holders scheduled for 16 April 2021. This is composed of an ordinary dividend of CHF 3.50 per share and a distribution of CHF 3.25 per share from capital reserves, which is tax-free to Swiss private investors.

Allreal combines a stable-income real estate portfolio with the activities of a general contractor (development and realisation). The value of the real estate portfolio amounts to CHF 4.53 billion. In fiscal year 2020, the project volume effectively handled amounted to CHF 363.4 million. Allreal employs a staff of over 200 in Zurich, Basel and Berne. Allreal’s headquarters are located in Glattpark and the company operates in Switzerland only. Allreal Holding AG is listed on the SIX Swiss exchange.

 

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