3. Detailed information on statement of profit and loss and OCI items
3.1 Rental income
Compared to the same period of the previous year, the potential rental income increased by KCHF 84, mainly due to the acquisition of a new investment property in Zurich-Oerlikon in the previous year.
The increase in vacancy loss by KCHF 59 results from the 0.6% increase in the vacancy rate in connection with two expired rental contracts in Baden.
The net rent reductions essentially relate to agreements with tenants for the waiver of rent in connection with the COVID-19 lockdown in spring.
Overall, this reduced rental income by KCHF 23 compared with the same period of the previous year.
3.2 Real estate expenses
Around 80% of property expenses result from external property management fees, insurances and non recoverable service charges for vacant rental space.
3.3 Personnel expenses
Personnel expenses decreased by KCHF 312 or 28% compared to the same period of the previous year, mainly due to changes in management.
Other personnel expenses include expenses for effective and flat-rate expenses of employees and members of the Board of Directors as well as premiums for directorsʼ liability insurance.
3.4 Administrative expenses
Administrative expenses decreased by KCHF 108 or 18% compared to the same period last year.
This was due in particular to legal and tax advisory expenses and other advisory and investor relations expenses. Optimisations, some of which were already initiated in the previous year, resulted in total savings of KCHF 86.
