EPRA Performance Measures
The EPRA (European Public Real Estate Association) has developed Best Practice Recommendations for Reporting, Accounting and Corporate Governance in the listed real estate sector in recent years. The aim is to ensure consistency and transparency throughout the real estate sector. Züblin is a member of EPRA. In addition to the EPRA Performance Measures, Züblin is also disclosing a number of other company-specific figures.
A. EPRA Earnings per share
|
in CHF thousands |
|
1.4.2020 to 31.3.2021 |
1.4.2019 to 31.3.2020 |
|
|
|
|
|
|
Earnings of shareholders of Züblin Immobilien Holding AG |
|
4 019 |
4 628 |
|
|
|
|
|
|
Adjustments: |
|
|
|
|
Change in market value of investment properties |
|
–296 |
–219 |
|
Deferred taxes in respect of EPRA Earnings adjustments |
|
725 |
642 |
|
Currency differences |
|
–18 |
106 |
|
EPRA Earnings of shareholders |
|
4 430 |
5 157 |
|
|
|
|
|
|
Average number of outstanding shares |
|
3 315 647 |
3 316 303 |
|
EPRA Earnings per share |
|
1.34 |
1.56 |
B. EPRA Equity and EPRA Equity ratio
|
in CHF thousands |
|
31.3.2021 |
31.3.2020 |
|
|
|
|
|
|
Number of outstanding shares at balance sheet date |
|
3 315 647 |
3 315 647 |
|
|
|
|
|
|
Equity of shareholders |
|
133 723 |
132 969 |
|
Equity per share |
|
40.33 |
40.10 |
|
|
|
|
|
|
Equity of shareholders |
|
133 723 |
132 969 |
|
Adjustments: |
|
|
|
|
Deferred taxes on investment properties |
|
14 586 |
13 861 |
|
EPRA Net Asset Value (NAV) of shareholders |
|
148 309 |
146 830 |
|
EPRA NAV per share |
|
44.73 |
44.28 |
|
|
|
|
|
|
EPRA Equity |
|
148 309 |
146 830 |
|
Total Assets |
|
223 015 |
224 936 |
|
EPRA Equity ratio |
|
66.5% |
65.3% |
C. EPRA Triple Net Asset Value (NNNAV)
|
in CHF thousands |
|
31.3.2021 |
31.3.2020 |
|
|
|
|
|
|
EPRA Net Asset Value (NAV) of shareholders |
|
148 309 |
146 830 |
|
Adjustments: |
|
|
|
|
Deferred taxes (net) |
|
–14 586 |
–13 861 |
|
Deviation to fair value of mortgages |
|
–97 |
–164 |
|
EPRA NNNAV |
|
133 626 |
132 805 |
|
Number of outstanding shares at balance sheet date |
|
3 315 647 |
3 315 647 |
|
EPRA NNNAV per share |
|
40.30 |
39.64 |
D. EPRA Net Yield Disclosure
|
in CHF thousands |
|
31.3.2021 |
31.3.2020 |
|
|
|
|
|
|
Gross-up valuation of Investment properties available for lease (A) |
|
218 710 |
217 910 |
|
|
|
|
|
|
Annualized rental income investment properties available for lease (B) |
|
8 252 |
9 444 |
|
Property expenses |
|
–813 |
–911 |
|
Annualized net rental income (C) |
|
7 439 |
8 533 |
|
Adjustment for lease incentives |
|
n.a. |
n.a. |
|
"Topped-up" Annualized net rental income (D) |
|
7 439 |
8 533 |
|
|
|
|
|
|
EPRA Gross Initial Yield (GIY) (B/A) |
|
3.8% |
4.3% |
|
EPRA Net Initial Yield (NIY) (C/A) |
|
3.4% |
3.9% |
|
EPRA "topped-up" NIY (D/A) |
|
3.4% |
3.9% |
E.1 EPRA Vacancy Rate monetary
|
in CHF thousands |
|
31.3.2021 |
31.3.2020 |
|
|
|
|
|
|
Annualized market rental income of vacant space (A) |
|
1 539 |
841 |
|
Annualized market rental value of the whole portfolio (B) |
|
9 455 |
9 472 |
|
EPRA Vacancy rate (A/B) |
|
16.3% |
8.9% |
E.2 Züblin Vacancy Rate monetary
|
in CHF thousands |
|
31.3.2021 |
31.3.2020 |
|
|
|
|
|
|
|
|
|
|
|
Annualized rental income of vacant space (A) |
|
1 539 |
841 |
|
Annualized rental income of the whole portfolio (B) |
|
9 791 |
10 285 |
|
Züblin Vacancy rate (A/B) |
|
15.7% |
8.2% |
