In a persistently challenging market environment, Ina Invest achieved sustainable growth in the 2023 financial year, reached important milestones and reaffirmed its medium-term targets of a portfolio size of over CHF 2 billion and a return on equity of over 6%. A simplification of the company structure will be presented at the Annual General Meeting.
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Annual Report 2023: Increase in operating result, development and completion of projects according to plan, higher rental income
Ina Invest increased the operating result significantly compared to the previous year. The valuation adjustment of the portfolio is in line with the general development of the real estate market in Switzerland. Ina Invest sees itself on track to achieve its medium and long-term goals, as demand for residential space will further increase, both for residential property and rental apartments in good locations, particularly in urban centers. Ina Invest is well positioned in this segment.
+7.5
CHFm EBIT excluding result from change in fair value
-16.3
CHFm Result from change in fair value of investment properties
+34%
Growth in rental income over the last 12 months
+0.1%
Total portfolio appreciation over the last 12 months
Development projects progressing according to plan
Once the building permit has been granted and the licence to operate the casino in Winterthur’s Lokstadt halls has been obtained, construction will begin in spring 2024. The “Bredella West” neighbourhood plan in Pratteln has been submitted to the canton for approval. We are confident of obtaining it in the first half of 2024. We are planning to transform the Rue du Valais project in Geneva into a residential property. An application for planning permission has been submitted. The Birspark in Aesch (BL) and Tivoli (NE) projects were successfully sold.
Marc Pointet, CEO
“We have started the new year on an optimistic note and with a clear focus on the further development of our projects. The combination of our strategic positioning around hybrid properties, long-term flexibility of use and profitability as well as the growing demand for residential space in urban centres underlines our strong position in a dynamic segment.”
Consistently sustainable
We are reaching important milestones as we strive to realise our vision of holding and developing one of the most sustainable property portfolios in Switzerland. This is reflected in the GRESB Real Estate Development Benchmark Assessment, in which we scored 95 out of a possible 100 points (previous year: 93). We also assessed our existing properties for the first time and were awarded the “Green Star” designation straight away.
Quality and value appreciation in the portfolio
The property portfolio was worth CHF 836 million at the end of 2023. With the completion of the Holiday Inn Express & Suites projects in Allschwil and Elefant in Winterthur, these properties were transferred to our property portfolio, which contributed to the increase in rental income. We handed over all 38 flats sold at Tender in Winterthur to their new owners. The Grüssen Garage in Pratteln was also successfully re-let.