Pleasing Results for Zug Estates Holding AG in First Half of 2024

Zug Estates Holding AG reported a significant increase in net income for the first half of 2024, reaching CHF 28.2 million compared to CHF 1.9 million in the previous year. Adjusted net income showed a slight rise of 0.4% to CHF 18.1 million. Property income grew by 3.1% to CHF 33.8 million, driven by a substantial drop in vacancy rates to 0.7%.

Revaluation gains led to an increase in portfolio value by CHF 14.9 million, totaling CHF 1.84 billion as of June 30, 2024. The equity ratio remained solid at 54.9%. However, the hotel & catering segment experienced a dip, with income decreasing by 5.5% to CHF 7.7 million.

Notably, the Swiss Sustainable Building Council awarded the Suurstoffi site the DGNB Platinum Certificate for sustainable district planning and construction, a first in Switzerland. Overall, the company anticipates continued growth and improved rental income for the remainder of 2024.