Varia US Properties AG delivers strong Q1 2022 results – rental income up 21% year over year, significant increase of net profit to USD 100.8 million

Patrick Richard, Executive Member of the Board of Directors of Varia US, said: “Today, Varia US for the first time published fully consolidated financial statements on a quarterly basis. We strongly believe this effort is key to better inform our shareholders of the Company’s activities, and to keep them updated in a rapidly changing market.”

  • Rental income up 21% year over year to around USD 30.9 million (Q1 2021: USD 25.5 million)
  • Net gain from fair value adjustment up to USD 123.8 million (Q1 2021: USD 21.3 million)
  • Profit for the period significantly increased to USD 100.8 million (Q1 2021: USD 23.8 million)
  • Pleasing portfolio development with higher portfolio value, increased average monthly rent and stable average occupancy rate
  • Institutionalization of the portfolio is intended to lead to a better ESG performance and significantly reduced capital expenditure (CAPEX) requirements
  • Varia US Properties AG (the “Company” or “Varia US”) continues to expect a flattening of the fair value adjustments, as well as a certain normalization of the US inflation as interest rates increase

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