Investis Holding SA (LTS:0RHV)

Full Year 2024 Investis Holding SA Earnings Call Transcript

Mar 19, 2025 / 08:00AM GMT

Release Date Price: CHF113 (+1.35%)

Transcript

Key Points

Positve

Investis Holding SA (XSWX:IREN) successfully expanded its property portfolio, acquiring properties worth over CHF370 million in 2024.
The company reported a significant revaluation gain of CHF105 million, reflecting the quality of its portfolio.
Investis Holding SA increased its dividend to CHF2.6, demonstrating confidence in its financial stability.
The company maintains a conservative loan-to-value (LTV) ratio of 27.6%, indicating strong financial health.
Investis Holding SA's net profit, excluding revaluation, rose to CHF157 million, showcasing robust operational performance.

Negative

The vacancy rate increased slightly to 1.9%, which is higher than the previous year's all-time low.
The company faces challenges in the construction sector, with a shortage of land and complex authorization procedures hindering new developments.
Investis Holding SA's shares are trading at a discount to NAV, contrasting with the premium seen in other Swiss residential real estate investments.
The commercial segment of the portfolio grew to 19%, which may not align with the company's primary focus on residential properties.
The company anticipates a decrease in vacancy rates but acknowledges uncertainty in achieving the previous year's low levels.

Operator

Ladies and gentlemen, welcome to the Investis '24 results webcast. (Operator Instructions) The webcast will be recorded. (Operator Instructions) With that, I will now hand over to Stephane Bonvin, CEO of Investis.

Stephane Bonvin

Investis Holding SA - Chairman of the Executive Board, Chief Executive Officer, Executive Director

Well, thank you. Ladies and gentlemen, good morning, and welcome to the presentation of Investis Holdings full year '24 results. I'm pleased to be here today with our CFO, Rene Haesler who will present you the financial overview; and Laurence Bienz, our Investor Relations. The agenda will be as follows. I will start with the highlights, and then I will continue with the market trends. Rene will present you then the financial overview, and I will conclude with the outlook before the Q&A session.

So before to go into the details of our results, I would like to take a step back and provide some context. Following the sale of part of our portfolio in start 2022, the market reacted exactly as we had anticipated. This allowed us

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