Sustainable investment

Sustainable investment

Key figures of bonainvest Holding AG

Financial statement as per 31.12.2023 31.12.2022 31.12.2021
KEY FINANCIAL FIGURES
CHF CHF CHF
Balance sheet total after DCF valuation of the properties and companies 573 169 929 505 775 954 460 640 893
Unbuilt land 526 137 526 137 526 137
Investment properties 356 222 718 308 857 529 296 940 829
Properties for sale 4 342 824 6 030 481 20 701 907
Properties under construction, work in progress 182 160 807 158 351 966 102 483 661
Income from property rentals 13 386 359 11 537 751 11 157 743
Property expenditure 1 796 275 1 791 580 1 785 916
Property income 11 590 084 9 746 171 9 371 827
Income from initial measurement after completion 2 875 156 6 804 65 145
Income from revaluation (subsequent measurement) –2 151 484 –1 353 000 3 529 269
Operation result before interest and tax (EBIT) 12 147 853 17 376 392 11 032 109
Result for the period before taxes (EBT) 8 127 139 14 195 713 10 027 675
Result for the period 7 080 343 13 264 079 8 544 814
Equity capital (excluding proprietary shares) 284 169 401 283 062 064 276 251 847
Market capitalisation 303 054 338 296 181 978 293 332 463
Equity ratio (including proprietary shares) 49,92% 56,27% 60,25 %
Return on equity p.a. before tax 2,82% 4,95 % 3,59 %
Return on equity p.a. (ROE) 2,46% 4,63 % 3,06 %
KEY NUMBERS PER SHARE
Number of shares Number of shares Number of shares
Issued shares 3 352 371 3 352 371 3 352 371
Shares with voting rights 3 352 371 3 352 371 3 352 371
Shares with dividend rights (including proprietary shares) 3 352 371 3 352 371 3 352 371
CHF CHF CHF
Profit p.a. per share with dividend entitlement 2.11 3.96 2.55
Dividend (or proposed dividend)/Repayment of capital contribution per share in CHF 2.00 1.90 1.70
Equity capital per share (valued at purchase values based on Swiss GAAP FER) 84.77 84.44 82.40
Equity capital per share based on DCF valuation 90.40 88.35 87.50
Share price as of 1.6.2023 90.50 (1)
(1) Share price after annual accounts and proposal of the Board of Directors to the Annual 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%.


Shareholding structure

The shareholding structure comprises 155 investors, including prestigious pension funds, insurance companies, foundations and some private investors.

Leading shareholders as at the end of december 2023

Investor Anteil
CPV/CAP Pensionskasse Coop 10.95
Migros Pensionskasse 10.47
F.G. Pfister Holding AG 6.95
Fonds interprofessionnel de Prévoyance Gebäudeversicherung Bern 5.55
Gebäudeversicherung Bern 4.85
Caisse de Prévoyance de l'Etat du Valais CPVAL 3.53
Previva 3.51
Ivo Bracher 3.43
Others 50.76

Shares

The issue price of a new registered share is CHF 90.40 (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 90.40
Share with a par value of CHF 10.00
Valoren No. 1107545
ISIN No. CH0011075451

Market capitalisation in CHF million

Aktienwert Ende Gegenwert Kapital
2014 189.19
2015 215.27
2016 249.75
2017 256.56
2018 264.58
2019 264.58
2020 275.01
2021 293.33
2022 296.18
2023 303.05

Tax value per share

Gross CHF Net CHF
Tax value 2022 81.00 56.70
Tax value 2021 78.00 54.60
Tax value 2020 79.50 55.65
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 approx. 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 56,27% (as of 31 December 2022).

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.