Ina Invest makes important operational and strategic progress during the 2024 financial year and completes the initial growth phase announced at the IPO. Significant development successes and the strategic decision to merge are laying the foundations for the company to enjoy a successful future. The medium-term objectives will be specified once the merger with Cham Group has been completed.
- EN
Annual Report 2024: significant operational and strategic progress, proposal to Annual General Meeting to merge with Cham Group
Income from market value changes, negative impact from adjustment to the contract with Implenia
Ina Invest increased its operating result significantly compared to the previous year. Rental income remained constant, thanks in particular to successful new lettings. Important project progress underpins the quality of the portfolio and has brought about positive changes in market value. However, a one-time payment made to Implenia as part of the termination of the long-term service agreement had a negative impact.
The sustained high level of demand for residential space in urban centres and the focus on the further development of projects means the outlook is optimistic. With its application to merge with Cham Group, Ina Invest is laying the platform for a successful future. The resulting company would be one of the leading real estate companies in Switzerland.
The Board of Directors will also propose to the Annual General Meeting that a dividend of CHF 0.20 per share be distributed for the first time for the 2024 financial year.
+20.4
CHFm EBIT before special item*
+15.4
CHFm Result from change in market value
+10.7
CHFm net profit before special item*
+26
CHFm Increase in value of total portfolio in the last 12 months
*The special effect of CHF 34.6 million in the 2024 financial year results from the one-off cancellation of contracts with Implenia, which has a negative impact on the operating result. The corresponding tax effect at net profit level amounts to CHF 6.5 million. In accordance with Swiss GAAP FER, EBIT amounts to CHF - 14.2 million, resulting in a loss of CHF - 17.4 million.
Key projects are developing according to plan
Construction of the casino at the Lokstadt-Hallen in Winterthur already began back in January 2024. The project is set to be completed at the end of the current year. Ina Invest has received the building permit for the Schaffhauserstrasse project and construction work has begun. A building permit has also been granted for the Rue de Valais project in Geneva, with construction work set to start in the first half of 2025. Finally, the pre-project stage of the Rocket & Tigerli wooden hybrid construction project at Lokstadt has been completed and the building application was submitted in September 2024. Particularly pleasing is that the development plans for Unterfeld in Baar and the plans for the Bredella West district in Pratteln have been given the green light by the electorate, with both projects being clearly approved at the ballot box.
Marc Pointet, CEO
“During the initial growth phase, we have completed what we announced at the IPO in a very successful fashion. The development progress of the projects as well as our strategic positioning, market trends and, finally, the planned merger with Cham Group mean that the company has more-than-solid foundations in place as it looks ahead to the future. We are heading into 2025 with great optimism.”
Real sustainability champions
Our sustainability vision is here to stay: Ina Invest holds and is continuing to develop one of Switzerland’s most sustainable real estate portfolios. In 2024, Ina Invest once again exceeded the excellent result already posted in the prior year: in the GRESB Real Estate Development Benchmark Analysis, Ina Invest scored 98 out of a possible 100 points (previous year: 95). Ina Invest also received the “Green Star” for its existing properties, gaining 76 out of a possible 100 points.