Sustainable investment
Sustainable investment
Key figures
| Financial statement as per | 31.12.2018 | 31.12.2017 | 31.12.2016 |
|---|---|---|---|
| KEY FINANCIAL FIGURES | |||
| CHF | CHF | CHF | |
| Balance sheet total based on DCF valuation of the properties and companies | 397 503 794 | 384 068 157 | 361 442 796 |
| Unbuilt land | 2 539 695 | 13 043 929 | 13 043 929 |
| Investment properties | 221 754 111 | 176 987 111 | 137 437 300 |
| Properties for sale | 69 548 400 | 58 555 113 | 52 256 219 |
| Properties under construction, work in progress | 71 388 650 | 102 155 531 | 122 694 584 |
| Income from property rentals | 7 774 270 | 6 773 140 | 5 247 221 |
| Property expenditure | 1 631 317 | 1 428 006 | 1 298 333 |
| Property income | 6 142 953 | 5 345 134 | 3 948 888 |
| Earnings before interest and tax (EBIT) | 6 931 388 | 10 172 143 | 6 802 159 |
| Earnings for the period before tax (EBT) | 5 112 719 | 8 545 845 | 5 647 177 |
| Result for the period | 4 137 187 | 6 759 022 | 4 160 141 |
| Equity capital (excluding proprietary shares) | 242 173 274 | 238 969 433 | 231 445 778 |
| Market capitalisation | 264 581 150 | 256 557 353 | 249 753 885 |
| Equity ratio (including proprietary shares) | 61,34% | 62,54% | 64,18% |
| Return on equity p.a. before tax | 2,07% | 3,53% | 2,42% |
| Return on equity p.a. (ROE) | 1,68% | 2,79% | 1,79% |
| KEY NUMBERS PER SHARE | |||
| Number of shares | Number of shares | Number of shares | |
| Issued shares | 3 076 525 | 3 014 775 | 2 938 281 |
| Shares with voting rights | 3 076 525 | 3 014 775 | 2 938 281 |
| Shares with dividend rights (excluding proprietary shares) | 3 076 525 | 2 975 232 (*) | 2 802 441 (*) |
| CHF | CHF | CHF | |
| Profit p.a. per share with dividend entitlement | 1.34 | 2.27 | 1.48 |
| Dividend (or proposed dividend)/Repayment of capital contribution | 1.40 | 1.70 | 1.40 |
| Equity capital per share (valued at purchase values based on Swiss GAAP FER) | 78.78 | 79.27 | 78.77 |
| Equity capital per share based on DCF valuation | 86.00 (*") | 85.10 | 85.00 |
| (*) 2016 and 2017 excluding own shares — (**) Trade rate from 28.8.2018 | |||
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. bonainvest Holding offers capital providers an advantageous investment opportunity in rental properties based on the bonacasa concept and generating a gross target yield of 4.3%.
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 126 investors, including prestigious pension funds, insurance companies, foundations and some private investors.
Leading shareholders
| Investor | Anteil |
|---|---|
| Pensionskasse Coop CPV/CAP | 11.94 |
| Migros Pensionskasse | 9.46 |
| Fonds interprofessionnel de prévoyance | 5.07 |
| Gebäudeversicherung Bern | 4.73 |
| Caisse de prévoyance de l'état du Valais CPVAL | 3.85 |
| Previva | 3.82 |
| Ivo Bracher | 3.65 |
| others | 57.48 |
Shares
The issue price of a new registered share is CHF 86.00, 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 86.00 |
| Share with a par value of | CHF 10.00 |
| Valoren No. | 1107545 |
| ISIN No. | CH0011075451 |
Market capitalisation in CHF million
| Aktienwert Ende | Gegenwert Kapital |
|---|---|
| 2009 | 27.01 |
| 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 |
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 11 June 2018 with a value of CHF 5.26 million. The equity ratio is 61,34% (situation on 31.12.2018).
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 2019
| 9 May | Annual General Assembly bonainvest Holding AG |
| 19 June | Speech by Ivo Bracher at the 12th Investor Conference on Longevity in Zurich |
| 3 September | Participation at the digital day switzerland |
| 31 October / 1 November | Participation at the NZZ Real Estate Days |
| Ongoing | Open days and free visits as well as presentations and public appearances at events |