Sustainable investment
Sustainable investment
Key figures
| Financial statement as per | 31.12.2019 | 31.12.2018 | 31.12.2017 |
|---|---|---|---|
| KEY FINANCIAL FIGURES | |||
| CHF | CHF | CHF | |
| Balance sheet total after DCF valuation of the properties and companies | 416 134 434 | 397 503 794 | 384 068 157 |
| Unbuilt land | 526 137 | 2 539 695 | 13 043 929 |
| Investment properties | 253 591 111 | 221 754 111 | 176 987 111 |
| Properties for sale | 55 174 630 | 69 548 400 | 58 555 113 |
| Properties under construction, work in progress | 75 879 199 | 71 388 650 | 102 155 531 |
| Income from property rentals | 9 082 910 | 7 774 270 | 6 773 140 |
| Property expenditure | 1 752 778 | 1 631 317 | 1 428 006 |
| Property income | 7 330 132 | 6 142 953 | 5 345 134 |
| Operation result before interest and tax (EBIT) | 11 678 983 | 6 931 388 | 10 172 143 |
| Result for the period before taxes (EBT) | 9 646 057 | 5 112 719 | 8 545 845 |
| Result for the period | 6 906 228 | 4 137 187 | 6 759 022 |
| Equity capital (excluding proprietary shares) | 246 967 308 | 242 173 274 | 238 969 433 |
| Market capitalisation | 264 581 150 | 264 581 150 | 256 557 353 |
| Equity ratio (including proprietary shares) | 58,49% | 61,34% | 62,54% |
| Return on equity p.a. before tax | 3,94% | 2,07% | 3,53% |
| Return on equity p.a. (ROE) | 2,82% | 1,68% | 2,79% |
| KEY NUMBERS PER SHARE | |||
| Number of shares | Number of shares | Number of shares | |
| Issued shares | 3 076 525 | 3 076 525 | 3 014 775 |
| Shares with voting rights | 3 076 525 | 3 076 525 | 3 014 775 |
| Shares with dividend rights (including proprietary shares) | 3 076 525 | 3 076 525 | 2 975 232 (1) |
| CHF | CHF | CHF | |
| Profit p.a. per share with dividend entitlement | 2.25 | 1.34 | 2.27 |
| Dividend (or proposed dividend)/Repayment of capital contribution per share in CHF | 1.50 | 1.40 | 1.70 |
| Equity capital per share (valued at purchase values based on Swiss GAAP FER) | 80.28 | 78.72 | 79.27 |
| Equity capital per share based on DCF valuation | 86.00 | 86.00 (2) | 85.10 |
| Share price as of 1.4.2020 | 86.75 (3) | ||
| (1) 2017 excluding own shares — (2) Trade rate from 28.8.2018 — (3) Share price after annual accounts and proposal of the Board of Directors to the General Meeting for distribution of profit | |||
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 140 investors, including prestigious pension funds, insurance companies, foundations and some private investors.
Leading shareholders as at 02.07.2020
| Investor | Anteil |
|---|---|
| CPV/CAP Pensionskasse Coop | 11.58 |
| Migros Pensionskasse | 11.07 |
| Gebäudeversicherung Bern | 5.13 |
| Fonds interprofessionnel de Prévoyance | 5.11 |
| Caisse de Prévoyance de l'Etat du Valais CPVAL | 3.73 |
| Previva | 3.71 |
| Ivo Bracher | 3.57 |
| Others | 56.10 |
Shares
The issue price of a new registered share is CHF 86.75, based on the net asset value calculated by Ernst & Young AG (EY) in August 2018. bonainvest Holding pays the Federal issue stamp duty of 1%.
Key data
| Current trading value | CHF 86.75 |
| Share with a par value of | CHF 10.00 |
| Valoren No. | 1107545 |
| ISIN No. | CH0011075451 |
Market capitalisation in CHF million
| Aktienwert Ende | Gegenwert Kapital |
|---|---|
| 2010 | 36.78 |
| 2011 | 55.20 |
| 2012 | 112.17 |
| 2013 | 151.37 |
| 2014 | 189.19 |
| 2015 | 215.27 |
| 2016 | 249.75 |
| 2017 | 256.56 |
| 2018 | 264.58 |
| 2019 | 264.58 |
| 2020 | 275.00 |
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%. 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 2 July 2020 with a value of CHF 8.1 million. The equity ratio is 58,5% (situation on 31.12.2019).
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.
Calendar 2020/2021
| 16 September 2020 | Lecture at 7. Vorsorgeforum Interlaken |
| 22 October 2020 | Swiss Public Real Estate Forum |
| 5/6 November 2020 | NZZ Real Estate Days |
| 20/21 January 2021 | Participation in IMMO’21 |
| 3 September 2021 | dialog@age Symposium at the Careum Auditorium in Zurich |
| Ongoing | Open days and free visits as well as presentations and public appearances at events |