Ongoing significant increase of effective and potential gross income based on sustainable portfolio development – positive outlook for 2018

Varia US Properties closed the first half-year of 2018 with favourable results. Varia focused on further promising investments and on the continued implementation of its growth and value- add strategy. Overall, the half-year results are within its expectations in a growing portfolio and reflect the benefits of the positive developments of the US real estate market and the efficiency of Varia’s strategy.

  • Effective gross income of USD 38.9 million (previous year: USD 28.4 million; + 37.0%)
  • Gain from portfolio value adjustment of USD 7.4 million (previous year: USD 14.9 million; – 50.3%)
  • Total income of USD 46.4 million (previous year: USD 43.3 million; + 7.2%)
  • Operating profit without revaluation up to USD 16.4 million (previous year: USD 10.2 million)
  • Operating margin without revaluation up to 42% (previous year: 36%)
  • Potential gross income increased to USD 94.3 million (end of 2017: USD 83.9 million; + 12.4%)
  • Value of property portfolio tops USD 710.6 million as of 30 June 2018 (end of 2017: USD 618.0 million; + 15%), and consists of 50 properties
  • Total revenue of a constant portfolio between 30 June 2017 and 30 June 2018 increased by 3.6%
  • Earnings per share of USD 1.38 (previous year: USD 1.83 including higher revaluation)
  • Distribution of a dividend of CHF 2.50 per share after the 2019 General Assembly confirmed
  • NAV per share at USD 35.82 (end of 2017: USD 34.38)
  • Additional equity raised in 2018 fully invested
  • Full completion of Non-Controlling Interest buy out

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