15th March 2022 -IAM, News
Olivier Aeschlimann, Senior Financial Analyst
The group’s operating profit increased by 5.1% in 2021. The two main segments, asset management and real estate, contributed positively to this good result. This illustrates the solidity of the company, particularly in the context of the Covid-19 pandemic. Indeed, on a like-for-like basis, rental income increased by 0.5% and the vacancy rate was reduced from 5.1% to 4.6%. In addition, the real estate portfolio has benefited from revaluation gains and currently amounts to CHF 12.8 billion. In addition, Wincasa, the management and service segment, also recorded strong growth and achieved an EBIT margin of 12%. As for Jelmoli, the department store reported an 8.1% increase in operating income, despite an extended period of lockdown in the first part of the year. For 2022, the group wants to be optimistic, in particular because of a reinforced financial structure which makes it even more resilient
