| | Convincing Result for 2017 Financial YearZurich, 27 February 2018: Allreal reported a very gratifying net profit excluding revaluation gains in the year under review of CHF 113.3 million. Thanks to higher rental income, the increased profitability of the Projects & Development division and lower cost of financing, the operating result is shown above that of the previous year despite clearly lower earnings resulting from the sale of development real estate. At the shareholders' meeting, the board of directors will propose a higher profit distribution of CHF 6.25 per share.Net profit including revaluation gains for the 2017 financial year amounted to CHF 129.2 million, or 25.6% below that of the previous year which was characterised by extraordinarily high appreciation gains and the sale of development real estate. Earnings generated by the Real Estate division and the project volume completed by the Projects & Development division resulted in total sales of CHF 603.4 million.The company expects operating net profit for the 2018 financial year to be reported slightly above that of the period under review.Owing to the good result for the period under review and the stable business development expected for the coming years, the Board of Directors at the Shareholders' Meeting scheduled for 20 April 2018 will propose a higher profit distribution of CHF 6.25 per share in the form of a par value reduction. Compared to the closing price on 31 December 2017 this corresponds to a cash yield of 3.8%. The pay-out is tax-free for private investors. |
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