Valuation of assets as at 31 December 2018 result in substantially higher value adjustments for properties and one-time depreciation in the HIAG Data segment. Overall, the valuation gains increase and HIAG Data's negative contribution compensate each other in the net profit.
Published: 25. January 2019
Media Release
Basel, 25 January 2019 - HIAG's 2018 net income will be affected by two non-recurring items: The revaluation of properties for the 2018 business year will be at least twice the amount of the previous year (CHF 33.29 million). This significant increase is the result of progress being made with redevelopment projects on the one hand, and acquisitions in the second half of the year on the other hand. Concerning HIAG Data, as announced at the half-year stage, investments that have been made in the Cloud 4.0 were reviewed for impairment purposes at the end of the year in the light of ongoing technological developments and the intended partnership with SIX Group. The resulting reassessment led to a one-time depreciation of CHF 16.4 million as at 31 December 2018, further burdening the HIAG Data segment in addition to a negative contribution to earnings. The doubling of value adjustments from revaluation of properties is compensated by the ordinary loss and one-time charge in the HIAG Data segment. Collected property income for the 2018 business year – increased by the recent acquisitions – will be within the scope of the previously announced forecasts.
More detailed information on the course of business in the 2018 business year, as well as the complete Annual Report 2018, will be published on 18 March 2019.
Contact
Martin Durchschlag Chief Executive Officer T +41 61 606 55 00 martin.durchschlag@hiag.com
| Laurent Spindler Chief Financial Officer T +41 61 606 55 00 |
HIAG Immobilien Holding AG
Aeschenplatz 7
4052 Basel
T +41 61 606 55 00
investor.relations@hiag.com