2012 Half-year Report: Home
Allreal announces good 2012 half-year results
Allreal reported good results for the first half of 2012: overall performance (earnings from rental of investment real estate and property management plus completed project volume in the Projects & Development division) grew by a respectable 16% to CHF 483.1 million.
Net profit including revaluation gains amounted to CHF 64.4 million (1st half 2011: CHF 65.5 million). Operating net profit for the first half of 2012 of CHF 49.9 million is reported 6% below that for the comparison period especially due to clearly higher personnel expenses.
Allreal expanded both its geographic reach and product range as a result of acquiring the Hammer Retex Group based in Cham ZG.
Due to the positive price development and the profit distribution of CHF 5.50 per share as decided by the 2012 annual meeting of shareholders as well as subscription rights issued within the parameters of the capital increase, overall performance of the Allreal share is reported at a respectable 7.1%.
The capital increase successfully implemented in May 2012 resulted in an inflow of capital of net CHF 265 million. The funds were devoted to repay short-term debt, allowing the company to finance own projects.
Allreal expects operating results for the second half of 2012 to remain slightly below those of the previous year.