Ad hoc announcement pursuant to clause 16 LR BX Swiss
Patrimonium Urban Opportunity Ltd. registers a significant increase in net profit in the first half of 2023
Patrimonium Urban Opportunity Ltd. (BX Swiss: “PATRI”) announces robust performance in the first half of 2023 and a good return for investors. The company’s asset base has expanded significantly, while renovations and new property acquisition set the stage for future growth.
Resilient commercial real estate market
Despite interest rates hikes and economic uncertainties, the commercial real estate market in Switzerland remains strong. Continued high demand for prime office spaces, industrial facilities, and logistics surfaces, attests to the strength of the Swiss economy.
Key investments and portfolio growth
In the first semester, Patrimonium Urban Opportunity Ltd. added to its portfolio a key property in Reinach, Kägenstrasse 12/14. The announced merger with its subsidiary Protir SA was successfully concluded with effect as of 1 January 2023, to streamline operations and bolster efficiency. During this period, investments totalling CHF 15.3 million were made, including the acquisition in Reinach and ongoing projects at La Voie-Creuse (Geneva) and Chemin de Mochettaz 7 (Bussigny).
Tenant diversification and financial health
The portfolio remains strong, showing a 7.32-year weighted average unexpired lease term (WAULT) for key tenants, affirming stability. Patrimonium Urban Opportunity Ltd. maintained financial robustness, with a net profit for Q2 2023 more than doubling and exceeding CHF 3.9 million – a remarkable increase of over 100% compared with the same period last year. Notably, the Net Asset Value (NAV) reached CHF 2.97, which corresponds to an increase of 7.2% over the last 12 months. The net operating income (NOI) grew by 14.5% to CHF 4.16 million, and the rental income saw an uptick of 14.5% to CHF 5.95 million compared to the end of 2022. Finally, a substantial revaluation gain of over CHF 3 million, largely due to recent acquisitions and ongoing projects, significantly strengthened the results.
Patrimonium Urban Opportunity Ltd. is ahead of schedule on the construction project at Chemin de Mochettaz 7 in Bussigny. The ongoing renovation and repositioning project in the property in Geneva is well under way and will be finalized in the upcoming months. Patrimonium Urban Opportunity Ltd. continues to diligently explore and develop the potential of the other parcels to maximize growth opportunities.
“While navigating a challenging environment, we remain optimistic about our trajectory. Our carefully planned investments and resilient cash flows position us well for the future.“, says Hanspeter Berchtold, CIO Real Estate Patrimonium Asset Management Ltd.
Patrimonium Urban Opportunity Ltd. is listed at BX Swiss since July 18, 2022 (Ticker: PATRI).
For more information and to download the full semi-annual report 30.06.2023: www.patrimoniumurbanopportunity.ch
Head of Marketing
Patrimonium Asset Management Ltd
Phone : +41 58 787 00 08 – E-mail : email@example.com
About Patrimonium Urban Opportunity Ltd.
Patrimonium Urban Opportunity Ltd. is a Swiss real estate company listed at BX Swiss AG (“PATRI”, ISIN: CH1141117965) (the “Company”). The Company pursues an active and highly selective acquisition and development strategy focused on targeted real estate opportunities in attractive macro- and micro-locations in urbanising areas. The portfolio includes investment properties in Switzerland’s main economic hubs – Basel, Geneva, Lausanne, and Zürich. The purpose of the Company is to purchase, sell, lease, and manage real estate in Switzerland. The Company is a limited company incorporated and domiciled in Switzerland. The registered office is located at Chemin des Lentillières 15, 1023 Crissier.
The asset management is delegated to Patrimonium Asset Management Ltd, a Swiss fund management company supervised by FINMA with more than 4.5 billion assets under management and 70 employees.
The information and opinions expressed in this publication were produced by Patrimonium Urban Opportunity Ltd. as of the date of writing and are subject to change without notice. This publication is intended for information purposes only and does not constitute an offer or an invitation by, or on behalf of, the Company to make any investments. Opinions and comments of the authors reflect their current views, but not necessarily of other Patrimonium entities or any other third party. Nothing in this publication constitutes investment, legal, accounting or tax advice, or a representation that any investment or strategy is suitable or appropriate for individual circumstances, or otherwise constitutes a personal recommendation for any specific investor. Past performance is not a reliable indicator of future results. Performance forecasts are not a reliable indicator of future performance.
Although the information and data herein are obtained from sources believed to be reliable, no representation is made that the information is accurate or complete. Patrimonium Urban Opportunity Ltd. does not accept liability for any loss arising from the use of this publication.
This publication must not be distributed outside Switzerland.