With EBITDA of CHF 110.6 million (2019: CHF 44.5 million), Division Real Estate achieved an exceptional result in 2020 owing to the Ina Invest transaction. The successful transaction and IPO in June 2020 will also open up future growth potential thanks to rising income streams from real estate services as well as from our equity participation in Ina Invest. The division also strengthened its project pipeline with investments in the land bank.
Strong underlying business
With EBITDA of CHF 61.6 million (incl. COVID-19 effect of CHF ~ -9 million) the division delivered a strong performance from its underlying business and initial returns from Ina Invest participation. After including the incremental effect of the Ina Invest transaction of CHF 52.5 million as wekk as write-downs and re-evaluations of CHF -3.5 million reported EBITDA came to CHF 110.6 million. Ina Invest gives the division additional growth potential in the form of recurring income from real estate services as well as dividend income from Implenia’s equity participation in Ina Invest. The division has also increased its own development portfolio with gross investments of CHF 57.9 million (2019: CHF 53.2 million), which has strengthened the project pipeline for the coming years. Two major projects went up for sale as owner occupier flats: Haus Montreal in Green Village, Geneva, and the Tender building at the Lokstadt development in Winterthur.
“By focusing on users and deploying specialist expertise, we develop real estate products and services that simplify and enrich people’s lives.”
Adrian Wyss Head Division Real Estate
Real estate services and standardised real estate products
We continue to expand our range of real estate services with the aim of generating good margins in years to come. We are also continually building up our attractive development portfolio through land acquisitions. Our current portfolio has an estimated market value of around CHF 2.3 billion on completion of all the projects it contains. We are putting a particular focus on developing standardised real estate products for international markets that can be configured and prefabricated industrially for different types of residential space. With innovative, scalable products like these we want to be a leading real estate player not only in Switzerland but also in the German market. You can read more about our Real Estate and Buildings capabilities in Insight Space for future generations.
Division Real Estate
develops sustainable properties and whole sites from initial idea to sale. Implenia occupies a leading position in this business in Switzerland and is currently expanding it in the German market. Its core competencies include comprehensive real estate services as well as the development and planning of scalable real estate products. Division Development was renamed Division Real Estate in 2020 to reflect this focus.