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 30.9.2020 |
1.4.2019 to 30.9.2019 |
|
|
|
|
|
|
Earnings of shareholders of Züblin Immobilien Holding AG |
|
1 993 |
4 426 |
|
|
|
|
|
|
Adjustments: |
|
|
|
|
Change in market value of investment properties |
|
63 |
–2 968 |
|
Deferred taxes in respect of EPRA Earnings adjustments |
|
291 |
876 |
|
Currency differences |
|
–9 |
52 |
|
EPRA Earnings of shareholders |
|
2 338 |
2 386 |
|
|
|
|
|
|
Average number of outstanding shares |
|
3 315 647 |
3 317 516 |
|
EPRA Earnings per share |
|
0.71 |
0.72 |
B. EPRA Equity and EPRA Equity ratio
|
in CHF thousands |
|
30.9.2020 |
31.3.2020 |
|
|
|
|
|
|
Number of outstanding shares at balance sheet date |
|
3 315 647 |
3 315 647 |
|
|
|
|
|
|
Equity of shareholders |
|
131 616 |
132 969 |
|
Equity per share |
|
39.70 |
40.10 |
|
|
|
|
|
|
Equity of shareholders |
|
131 616 |
132 969 |
|
Adjustments: |
|
|
|
|
Deferred taxes on investment properties |
|
14 223 |
13 861 |
|
EPRA Net Asset Value (NAV) of shareholders |
|
145 839 |
146 830 |
|
EPRA NAV per share |
|
43.99 |
44.28 |
|
|
|
|
|
|
EPRA Equity |
|
145 839 |
146 830 |
|
Total Assets |
|
221 907 |
224 936 |
|
EPRA Equity ratio |
|
65.7% |
65.3% |
C. EPRA Triple Net Asset Value (NNNAV)
|
in CHF thousands |
|
30.9.2020 |
31.3.2020 |
|
|
|
|
|
|
EPRA Net Asset Value (NAV) of shareholders |
|
145 839 |
146 830 |
|
Adjustments: |
|
|
|
|
Deferred taxes (net) |
|
–14 223 |
–13 861 |
|
Deviation to fair value of mortgages |
|
–131 |
–164 |
|
EPRA NNNAV |
|
131 485 |
132 805 |
|
Number of outstanding shares at balance sheet date |
|
3 315 647 |
3 315 647 |
|
EPRA NNNAV per share |
|
39.66 |
40.05 |
D. EPRA Net Yield Disclosure
|
in CHF thousands |
|
30.9.2020 |
31.3.2020 |
|
|
|
|
|
|
Gross-up valuation of Investment properties available for lease (A) |
|
218 030 |
217 910 |
|
|
|
|
|
|
Annualized rental income investment properties available for lease (B) |
|
9 433 |
9 444 |
|
Property expenses |
|
–833 |
–911 |
|
Annualized rental income net (C) |
|
8 600 |
8 533 |
|
Adjustment for lease incentives |
|
n.a. |
n.a. |
|
"Topped-up" Net annualized rental income (D) |
|
8 600 |
8 533 |
|
|
|
|
|
|
EPRA Gross Initial Yield (GIY) (B/A) |
|
4.3% |
4.3% |
|
EPRA Net Initial Yield (NIY) (C/A) |
|
3.9% |
3.9% |
|
EPRA "topped-up" NIY (D/A) |
|
3.9% |
3.9% |
E.1 EPRA Vacancy Rate monetary
|
in CHF thousands |
|
30.9.2020 |
31.3.2020 |
|
|
|
|
|
|
Estimated market rental value of vacant space (A) |
|
907 |
841 |
|
Estimated market rental value of the whole portfolio (B) |
|
9 476 |
9 472 |
|
EPRA Vacancy rate (A/B) |
|
9.6% |
8.9% |
E.2 Züblin Vacancy Rate monetary
|
in CHF thousands |
|
30.9.2020 |
31.3.2018 |
|
|
|
|
|
|
|
|
|
|
|
Estimated market rental value of vacant space (A) |
|
907 |
841 |
|
Annualized gross rental income of the whole portfolio (B) |
|
10 340 |
10 285 |
|
Züblin Vacancy rate (A/B) |
|
8.8% |
8.2% |
