EPIC Suisse AG (EPIC.SW), a Swiss real estate company, on Monday reported first-half results with improved profits backed by higher rental income.
For the period ended June 30, the firm reported a profit of 30.02 million Swiss Francs, compared to 22.90 million Swiss Francs a year ago.
The earnings per share amounted to 2.91 francs, higher than 2.21 francs in the prior year.
Adjusted profit, excluding revaluation effects, amounted to 20.48 million francs, compared to 19.91 million francs last year.
Adjusted earnings per share improved to 1.98 francs from 1.93 francs a year ago.
Earnings before interest and tax or EBIT of the company was 40.54 million francs, jigher than 34.73 million francs in the prior year.
Adjusted EBITDA increased to 26.85 million francs from 26.10 million francs a year ago.
Total income increased to 34.25 million francs from 33.48 million francs a year ago.
The hike in total income is backed by a 2.3% increase in rental income valued at 33.41 million francs, compared to 32.64 million francs a year ago due to reduced vacancy.
Looking forward, the company continues to expect rental income growth of 2% to 3% for fiscal 2025, amidst the geopolitical challenges like tariffs set by the US administration.
On Friday, in the Swiss market, the stock had closed 0.18% lower at 83.80 francs.
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