Sustainable investment

Sustainable investment

Key figures of bonainvest Holding AG

Financial statement as per 31.12.2021 31.12.2020 31.12.2019
KEY FINANCIAL FIGURES
CHF CHF CHF
Balance sheet total after DCF valuation of the properties and companies 460 640 893 428 647 318 416 131 277
Unbuilt land 526 137 526 137 526 137
Investment properties 296 940 829 286 814 829 253 591 111
Properties for sale 20 701 907 38 770 943 55 174 630
Properties under construction, work in progress 102 483 661 65 219 036 75 877 045
Income from property rentals 11 157 743 10 327 495 9 082 910
Property expenditure 1 785 916 1 702 059 1 752 778
Property income 9 371 827 8 625 436 7 330 132
Operation result before interest and tax (EBIT) 11 032 109 9 831 377 11 678 983
Result for the period before taxes (EBT) 10 027 675 9 276 353 9 646 057
Result for the period 8 544 814 7 467 844 6 906 228
Equity capital (excluding proprietary shares) 276 251 847 259 339 543 246 967 308
Market capitalisation 293 332 463 275 008 431 264 581 150
Equity ratio (including proprietary shares) 60,25% 60,59% 59,57%
Return on equity p.a. before tax 3,59% 3,56% 3,87%
Return on equity p.a. (ROE) 3,06% 2,87% 2,77%
KEY NUMBERS PER SHARE
Number of shares Number of shares Number of shares
Issued shares 3 352 371 3 170 126 3 076 525
Shares with voting rights 3 352 371 3 170 126 3 076 525
Shares with dividend rights (including proprietary shares) 3 352 371 3 170 126 3 076 525
CHF CHF CHF
Profit p.a. per share with dividend entitlement 2.55 2.36 2.25
Dividend (or proposed dividend)/Repayment of capital contribution per share in CHF 1.70 1.60 1.50
Equity capital per share (valued at purchase values based on Swiss GAAP FER) 82.40 81.80 80.28
Equity capital per share based on DCF valuation 87.50 (1) 86.75 86.00
Share price as of 1.5.2022 88.35 (2)
(1) Trade course from May 1st 2021 — (2) Share price after annual financial results and proposal of the Board of Directors to the General Meeting for profit distribution

Investment strategy

At carefully chosen sites, bonainvest Holding invests responsibly for the long-term  in properties that are developed and built in compliance with the bonacasa concept. The portfolio is geographically diversified, with no economic region accounting for more than 40% of the total volume. bonainvest Holding offers capital providers an advantageous investment opportunity in rental properties based on the bonacasa concept and generating a gross target yield (2024) of 3.75%.

bonacasa invests in Smart Living solutions to further extend its market leadership for networked living in properties built by bonainvest and the housing stock of its business clients.

Shareholding structure

The shareholding structure comprises 153 investors, including prestigious pension funds, insurance companies, foundations and some private investors.

Leading shareholders as at Decembre 31st 2021

Investor Anteil
CPV/CAP Pensionskasse Coop 10.95
Migros Pensionskasse 10.47
F.G. Pfister Holding AG 6.20
Gebäudeversicherung Bern 4.85
Fonds interprofessionnel de Prévoyance 4.84
Caisse de Prévoyance de l'Etat du Valais CPVAL 3.53
Previva 3.51
Ivo Bracher 3.40
Others 52.25

Shares

The issue price of a new registered share is CHF 88.35 (share price after annual financial results and proposal of the Board of Directors to the General Meeting for profit distribution).

Key data

Current trading value CHF 88.35
Share with a par value of CHF 10.00
Valoren No. 1107545
ISIN No. CH0011075451

Market capitalisation in CHF million

Aktienwert Ende Gegenwert Kapital
2011 112.17
2012 151.37
2013 189.19
2014 215.27
2015 249.75
2016 256.56
2017 264.58
2018 264.58
2019 275.00
2020 290.80
2021 296.90

Tax value per share (Extract from the Financial Report 2021)

Gross CHF Net CHF
Tax value 2019 76.95 53.87
Tax value 2018 77.95 54.57
Tax value 2017 78.00 54.60
Tax value 2016 78.60 55.02
Tax value 2015 76.80 53.76
Tax value 2014 77.60 54.32
Tax value 2013 77.39 54.17
Tax value 2012 74.45 52.12
Tax value 2011 64.00 44.80
Tax value 2010 54.00 37.80

Equity ratio

The return on equity capital is between 2 and 2.5% during the development and construction phase of major property projects. After completion, it will be in the order of 3.75%. Thanks to its clear strategy, cautious approach to risk-taking, robust financing and high earning power, bonainvest is well placed to achieve ongoing corporate value growth.

Capital increases

bonainvest Holding makes regular capital increases to finance growth. The last capital increase was implemented on 28 January 2021 with a value of CHF 15.8 million. The equity ratio is 60,25% (as of 31 December 2021).

Dividend policy

bonainvest Holding’s dividend policy and the amount of future dividends depend on a number of factors, including income, the financial situation, need for liquidity, the group’s general business prospects, legal obligations in relation to the distribution of dividends and other factors. Taking all these factors into account, bonainvest Holding aims to achieve a stable dividend distribution. Dividends are paid out tax-free from the reserves from capital contributions.

Agenda

May 23, 2022 General Assembly bonainvest Holding AG