Plazza remains on course for growth
Plazza AG slightly increased property income and profit before revaluation in 2021 year-on-year. The real estate company's corporate profit increased significantly more due to revaluations.
Plazza AG had another successful financial year in 2021, writes the Zurich real estate company in a statement . Specifically, the company, which has been listed on the SIX since 2015, was able to increase its real estate income from CHF 24.6 million in 2020 to CHF 26.1 million in the year under review. At the same time, the operating result before depreciation and revaluations increased from CHF 20.0 million to CHF 20.6 million.
In the year under review, “market-related factors” again led to “high revaluations”, Plazza explains further in the press release. They increased the real estate company’s profit from CHF 63.3 million to CHF 71.9 million year-on-year. Without revaluations, the profit increased from CHF 17.0 million to CHF 18.1 million.
Plazza cites the high proportion of residential properties in its own portfolio as the background to the good developments. The company writes that it increased from 73 to 76 percent in 2021 compared to 2020 due to the purchase of properties in Zurich’s Im Tiergarten district. At the same time, the vacancy rate in the residential sector fell from 3.1 percent to 2.6 percent.
In the same announcement, Plazza communicates a change in management and board of directors. At the beginning of the year, Plazza’s Chief Financial Officer, Thomas Casata, took over as CEO from Ralph Siegle, who was retiring. On the Board of Directors, Peter Lehmann is to replace Markus Kellenberger, who is stepping down when he reaches retirement age.