3. Detailed information on statement of profit and loss and OCI items
3.1 Rental income
|
in CHF thousands |
|
1.4.2018 to 30.9.2018 |
1.4.2017 to 30.9.2017 |
|
|
|
|
|
|
Potential rental income |
|
4 543 |
4 569 |
|
Vacancy |
|
–482 |
–514 |
|
Net rent reductions |
|
–10 |
–13 |
|
Rental income |
|
4 051 |
4 042 |
In the current period potential rental income declined by kCHF 26 due to prevailing lower market rents for vacant areas in Berne. Overall the effective rental income shows a slight increase by kCHF 9 mainly deriving from index-adjustments and favorable re-letting contracts.
3.2 Real estate expenses
|
in CHF thousands |
|
1.4.2018 to 30.9.2018 |
1.4.2017 to 30.9.2017 |
|
|
|
|
|
|
External property management fees |
|
–96 |
–67 |
|
Insurance |
|
–51 |
–46 |
|
Non recoverable service charges |
|
–25 |
–26 |
|
Marketing costs |
|
–23 |
–37 |
|
Property taxes |
|
–15 |
–8 |
|
Legal fees |
|
–2 |
–3 |
|
Other property-related expenses |
|
–20 |
–15 |
|
Total real estate expenses |
|
–232 |
–202 |
Two-thirds of the real estate expenses derive from external property management, insurance and non recoverable services charges relating to vacant letting areas.
3.3 Personnel expenses
|
in CHF thousands |
|
1.4.2018 to 30.9.2018 |
1.4.2017 to 30.9.2017 |
|
|
|
|
|
|
Wages and salaries |
|
–919 |
–827 |
|
Social security contributions |
|
–69 |
–72 |
|
Pension plan expenses |
|
–52 |
–55 |
|
Other personnel expenses |
|
–167 |
–199 |
|
Total personnel expenses |
|
–1 207 |
–1 153 |
Other personnel expenses include lump-sum expense allowance and travel cost for employees and member of the Board of Directors, fees for directorsʼ and officersʼ insurance, costs for recruting of new employees and expenses for the further training of existing staff.
3.4 Administrative expenses
|
in CHF thousands |
|
1.4.2018 to 30.9.2018 |
1.4.2017 to 30.9.2017 |
|
|
|
|
|
|
Legal and tax advisory |
|
–214 |
–67 |
|
Other advisory and investor relations |
|
–168 |
–166 |
|
Rent expenses |
|
–91 |
–92 |
|
Bookkeeping and IT |
|
–90 |
–123 |
|
Travel expenses |
|
–74 |
–103 |
|
Other taxes |
|
–47 |
1 |
|
Audit |
|
–36 |
–81 |
|
Project related advisory expenses |
|
–25 |
–126 |
|
Valuation |
|
–17 |
–20 |
|
Depreciation |
|
–10 |
–8 |
|
Notarial charges |
|
0 |
–20 |
|
Other administrative expenses |
|
–45 |
–28 |
|
Total administrative expenses |
|
–817 |
–833 |
Project-related advisory expenses for potential real estate acquisitions (sunk deal costs) decreased by kCHF 101. Legal and tax advisory services increased due to tax clarifications in connection with the final assessment of property gains taxes and legal advice for the simplification of the corporate structure following the disposals made in the prior year.
3.5 Financial expenses and income
|
in CHF thousands |
|
1.4.2018 to 30.9.2018 |
1.4.2017 to 30.9.2017 |
|
|
|
|
|
|
Financial expenses |
|
|
|
|
Mortgage and swap interest expenses 1 2 |
|
–360 |
–3 822 |
|
thereof recycled from equity |
|
0 |
–2 607 |
|
Other interest expenses 1 |
|
0 |
–27 |
|
Currency translation adjustments |
|
–65 |
0 |
|
Total financial expenses |
|
–425 |
–3 849 |
|
|
|
|
|
|
Financial income |
|
|
|
|
Interest income 3 |
|
382 |
1 |
|
Interest income shareholder loan 3 |
|
0 |
75 |
|
Currency translation adjustments |
|
0 |
256 |
|
Total financial income |
|
382 |
332 |
|
Net financial expenses |
|
–43 |
–3 517 |
1 The respective liabilities belong to the category "Financial liabilities at amortized cost".
2 The liabilities from interest swaps belong to the category "Financial liabilities at fair value through profit and loss".
3 The assets to which this income relates belong to the category "Loans and receivables at amortized cost".
