|
contents | business | |||||||||
| Züblin records solid results in 2009/2010 Swiss real estate company Züblin Immobilien Holding AG announced its results for the Financial Year 2009/2010, which are unchanged from the preliminary information released on 30 April 2010. Züblin generated rental income of CHF 103 m and simultaneously reduced operating costs by 18%, thereby maintaining an EBITDA margin of 75% and continuing its strong operating performance despite lower rental income. The Company returned to profitability with net income of CHF 10 m compared with a loss of CHF 202 m in the previous year, and generated operating cash flow of CHF 23 m, or CHF 0.38 per share. The Group's investment property portfolio stood at CHF 1.5 bn benefitting from improving market conditions in the Group's largest market, France. George E. Aase, CFO, has decided to pursue opportunities outside of the Züblin Group and will leave the Company during the course of the current financial year. write your comments about the article :: © 2010 Construction News :: home page |