Steiner Group: Pleasing annual result for 2021/2022
May 24, 2022 - The Steiner Group has had a pleasing financial year 2021/2022 and achieved a profit of CHF 49.7 million.
At the beginning of 2020, Steiner AG announced the transformation of the business model with a focus on real estate development. The company was able to complete the first year of transformation on March 31, 2022 with very good results. In the year under review, the Steiner Group achieved consolidated sales according to Swiss GAAP FER of CHF 763.6 million. The business activities resulted in an extraordinary operating result of CHF 49.7 million before taxes and interest.
In the fiscal year from April 1, 2021 to March 31, 2022, Steiner AG was able to record solid growth in all key areas of its core business. In addition to the strong real estate development business, the high level of construction activity at the TU/GU in western Switzerland also delivered a robust result. Profits from the sale of condominiums and developed projects to investors with a total market value on completion of CHF 880 million also contributed to the pleasing result. At the same time, new development projects with a projected market value upon completion of around CHF 1.5 billion were acquired. The development portfolio of ongoing real estate developments at Steiner AG has thus continued to grow and now amounts to CHF 6.4 billion.