- Ravi Kumar
sitEX concludes a successful 2019 with increased profits
sitEX Properties Holding AG increases net profit by 55%
The real estate company with its headquarters in Lachen SZ efficiently capitalised on the positive market environment last year in all business areas and achieved a very satisfactory business result. Net profit amounted to CHF 13.88 million, an increase of 55% over the previous year. This resulted in earnings per share of CHF 6.03 and a return on equity of 10.6%. At the same time, the equity ratio increased further to 44.2%. Earnings before interest, taxes, depreciation and amortization increased by 75.9% to CHF 20.45 million in the same period.
Beat Kähli, CEO of the company, commented on the highly satisfactory business results as follows: "We are very pleased with the positive and, in particular, broadly based business results of the past year. The result shows the outcome of our focused but nevertheless diversified strategy. By 2017, more than 50% of our profits were generated by revaluations. Last year, these gains represented only 4.5% of the overall result. As a result of the transformation of our company, in 2019, for the first time, the majority of profits were generated by development projects - profits that also directly impacted the company's liquidity and thus directly supported the further growth of our company. We look forward to the current fiscal year with confidence and again expect positive profits from our ongoing development projects - especially in Central Florida. A market that continues to be in a very robust condition."
Link to original post: https://www.sitex.ch/en/news/