Ina Invest 2023 half year results: higher rental income and growth in value
of the real estate portfolio

Ina Invest Holding AG / Key word(s): Half Year Results
Ina Invest 2023 half year results: higher rental income and growth in value
of the real estate portfolio

15-Aug-2023 / 07:13 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.

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* Current rental income increased by 39%

  * Value of real estate portfolio grew by CHF 26 million over last twelve
    months

  * EBIT of CHF 4.2 million and net profit of CHF 1.2 million in a
    challenging market environment

  * Sustained demand for living space in urban centres underpins positive
    outlook

Zurich, 15 August 2023 - Ina Invest, the Swiss real estate company listed on
the Six Swiss Exchange (SWX: INA) achieved a positive result in the first
half of 2023 in a challenging market environment. The operating result
(EBIT) amounted to CHF 4.2 million (HY 2022: CHF 12.0 million). Excluding
market value changes, the operating result was up year on year from CHF 1.3
million to CHF 3.4 million. Net profit came to CHF 1.2 million (HY 2022: CHF
17.0 million).

This result was influenced by the increase in rental income of 39% to CHF
7.9 million (HY 2022: CHF 5.7 million) and the market value changes of CHF
0.8 million (HY 2022: CHF 10.7 million). The higher rental income mainly
comes from the completed Elefant and HolidayInn & Suites projects. Thanks to
strict cost management, third-party operating expenses were reduced by 17%
to CHF 3.0 million (HY 2022: CHF 3.6 million). Due to higher interest rates
and the increase in borrowed capital, financial expenses rose from CHF 1.8
million to CHF 3.3 million.

Real estate portfolio developing according to plan
In a challenging market environment, the value of Ina Invest's real estate
portfolio grew over the last twelve months by 3.1% to CHF 846 million
(30.06.2022: CHF 820 million). On the one hand, this growth is attributable
to positive market value changes resulting from the steady progress made in
key projects such as Bredella West in Pratteln, Lokstadt in Winterthur or
the Schaffhauserstrasse project in Zurich. On the other, the quality of the
portfolio in terms of locations and the high proportion of residential
properties (after development) of over 50% are also crucial factors in this
value growth. The HolidayInn Express & Suites projects in Allschwil and the
Elefant project in Winterthur were completed successfully and transferred to
the portfolio, which led to an increase in rental income. All apartments
sold in the tender in Winterthur (38 out of 39 apartments) were handed over
to the condominium owners.

Development projects reach key milestones
In the first half of 2023, Ina Invest reached key milestones in the
development of its real estate portfolio. Planning permission was granted
for the casino at Lokstadt Hallen in Winterthur. The District Plan West of
the Bredella project has been processed by the Pratteln town council and
submitted to the canton for assessment. Permission is expected to be
received in the first half of 2024. The planning application was submitted
for the Rue du Valais project in Geneva.

There were delays in individual projects. Recourse proceedings are pending
for the Schaffhauserstrasse project in Zurich and the district planning
processes of the Préverenges VD and Tivoli NE projects are expected to take
some time due to complaints.

Focus remains on sustainability
Ina Invest is pressing ahead with its vision of maintaining and developing
one of the most sustainable real estate portfolios in Switzerland and is
publishing details of its progress and key figures transparently in its
sustainability report. For 2023, Ina Invest is once again targeting a top
rating in the GRESB Benchmark Assessment for Real Estate in the Western
Europe peer group. It will also be submitting its existing properties for
GRESB assessment in order to show the progress that has been made with its
transformations.

Confident outlook
Ina Invest is looking to the future with confidence. Given the ongoing
decline in planning applications, which is expected to continue, coupled
with positive net immigration, the shortage on the Swiss residential market
is likely to further intensify. The high residential share in urban spaces
and the great demand for these residential spaces support Ina Invest's
strategy. The company will retain its agile position, focusing on the
implementation of its strategy with an emphasis on residential properties
and sustainable commercial properties in good locations.

In the second half of 2023, Ina Invest will focus on developing its projects
and further reducing its operating expenses. A deferred purchase price
obligation from the purchase of the CERES Group was repaid after the balance
sheet date, which will have a positive effect of CHF 3 million in the income
statement in the second half of 2023.

You can find the Half Year Report 2023 at report.ina-invest.com.

Media and analysts' conference on the 2023 half year results of Ina Invest
Today at 09:00, CEO Marc Pointet and CFO Daniel Baumann will present the
2023 half year results and provide updates on the projects of Ina Invest.
You can watch the livestream with audio feed and presentation and ask
questions online at ina-invest.com/webcast. To participate by telephone, you
can register at ina-invest.com/telefonkonferenz and will then receive your
individual dial-in details.

Contact for investors and analysts
Marc Pointet, CEO
T +41 44 552 97 17
investors@ina-invest.com

Media contact
Corporate Communications
T +41 44 552 97 27
communications@ina-invest.com

Ina Invest is an independent Swiss real estate company that develops
sustainable spaces to live, work and relax in, with a focus on hybrid real
estate that ensures long-term flexibility of use and profitability. Ina
Invest, which was created as a spin-off from Implenia, now has one of the
largest and most high-potential development portfolios on the Swiss market.
The properties are situated in high-quality locations and can be used in a
variety of ways. Ina Invest plans to keep on investing and growing while
maintaining an above-average development ratio and at least 50% residential
space in its portfolio. Ina Invest achieves the highest sustainability
standards by taking a holistic approach to sustainability across all parts
of the value chain. In addition, the GRESB Real Estate Development Benchmark
Assessment found that Ina Invest is one of the most sustainable company in
its peer group in Western Europe. Ina Invest has been listed on the SIX
Swiss Exchange since June 2020 (INA, CH0524026959). Further information is
available at ina-invest.com.


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End of Inside Information

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   Language:       English
   Company:        Ina Invest Holding AG
                   Binzmühlestrasse 11
                   8050 Zurich
                   Switzerland
   Phone:          044 552 97 00
   E-mail:         info@ina-invest.com
   Internet:       www.ina-invest.com
   ISIN:           CH0524026959
   Valor:          52402695
   Listed:         SIX Swiss Exchange
   EQS News ID:    1703445

End of Announcement EQS News Service
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1703445 15-Aug-2023 CET/CEST