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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.
. 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.  
End of Inside Information  
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

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END) Dow Jones Newswires

August 15, 2023 01:13 ET (05:13 GMT)