Varia US Properties today announced that several key figures of its full and audited annual results 2021 are expected to be substantially higher compared to the previous year:
- Total income (excluding unrealized revaluation gains) for 2021 is expected to increase by approximately 25% compared to the previous year (2020: USD 129.7 million)
- Realized gains on disposal of properties increased by approximately 100% in 2021 compared to last year (2020: USD 19.9 million)
- Unrealized gains on revaluation of properties in 2021 increased about six fold compared to last year (2020: USD 22.7 million); this mainly results from shifts in discount rates in the US market
- As a result, total income for 2021 is expected to double compared to the previous year (2020: USD 152.4 million)
- EBITDA, i.e. operating profit less unrealized revaluation, increased by approximately one third in 2021 compared to last year (2020: USD 60.3 million); this mainly resulted from realized gains on disposals
- Based on these excellent preliminary results, the Board decided to review dividend guidance published on 10 December 2021 of CHF 3.00 per share and increase it to CHF 3.20 per share for the 2021 period. The board will therefore propose to the Shareholders’ meeting to be held in April 2022 to distribute a true-up of CHF 1.20 per share, on top of the four installements of CHF 0.50 that will have been paid at that time.
The full and audited annual results 2021 as well as the outlook for the business year 2022 will be published on 30 March 2022.