Ad-hoc announcement pursuant to clause 16 of the BX Swiss listing rules
Patrimonium Urban Opportunity Ltd. (BX Swiss: PATRI) publishes its annual report and announces solid results for the financial year ended 31 December 2024. The company benefited from increased rental income, disciplined cost management, and a favorable revaluation of its investment properties—bolstered in particular by the timely delivery of a new office building in Bussigny (VD).
Operating income rose by 7.35% vs. previous year to CHF 13.5 million (2023: CHF 12.6 million), supported by the reletting of 6,500 m² across properties in Reinach, Crissier, and Bussigny.
Despite the addition of the Bussigny building to the portfolio, property expenses decreased to CHF 3.2 million (2023: CHF 3.3 million). Maintenance and renovation costs were notably lower than in the previous year. Operating expenses rose to CHF 2.7 million (2023: CHF 2.2 million), mainly due to provisions for doubtful accounts. Nevertheless, the operating result before revaluation improved by 7.19% to CHF 7.5 million (2023: CHF 7.0 million).
The real estate portfolio value grew from CHF 254.8 million to CHF 261.0 million, driven by CHF 4.9 million in investments and CHF 1.3 million in revaluation gains . The single most significant contributor to this growth was the completion of the new office development Bussigny Mochettaz in May 2024.
Increased rental income, disciplined cost management and revaluation gains on the portfolio led to a positive net income for the year of CHF 5.2 million (vs. CHF –1 million in 2023).
In the reporting year, the debt ratio remained stable. The average debt maturity was 2.66 years (2023: 3.31 years), and the average interest rate decreased to 1.85% (2023: 2.19%).
The company’s NAV increased to CHF 113.8 million (2023: CHF 108.6 million), with the NAV per share rising to CHF 2.99 (2023: CHF 2.85), reflecting the robust operational and valuation performance.
Sustainable growth through state-of-the-art technologies
The standout achievement of the year was the completion of the eco-friendly office building at Bussigny Mochettaz, located adjacent to the Bussigny train station. Designed to meet the highest ecological standards, the property features several state-of-the art technologies. Notably, the building generates more electricity than it consumes.
At the end of the reporting year, 62% of the commercial space was already leased for the long term. Full rental is expected within the next 12 months, with further positive impact on annual rental income.
Hanspeter Berchtold, CIO Real Estate at Patrimonium Asset Management Ltd., comments: “Our last year financial results reflect the strength of our assets and the attractiveness of our development pipeline. The Bussigny Mochettaz project demonstrates our ability to deliver environmentally responsible developments with sustainable financial returns. We continue to focus on high potential development projects that generate long-term value for our investors.”
Patrimonium Urban Opportunity Ltd. is listed on BX Swiss (BX: PATRI). For further information and to access the 2024 Annual Report, please click here.
Person responsible for the disclosure of the ad-hoc announcement:
Christoph Syz
Delegate of the Board
Patrimonium Urban Opportunity Ltd.