May 19, 2020 / 5:18 AM / 16 days ago

BRIEF-Zueblin Immobilien FY Net Operating Income Up At CHF 8.5 Mln

May 19 (Reuters) - ZUEBLIN IMMOBILIEN HOLDING AG:

* FY EARNINGS BEFORE TAXES (EBT) ROSE BY CHF 2.4 MILLION TO CHF 6.2 MILLION

* FY NET OPERATING INCOME UP BY CHF 1.1 MILLION TO CHF 8.5 MILLION IN YEAR UNDER REVIEW (PREVIOUS YEAR: CHF 7.4 MILLION)

* VALUATION OF REAL ESTATE PORTFOLIO WAS IMPACTED BY UNCERTAINTY SURROUNDING COVID-19

* MARKET VALUES FELL BACK AGAIN AT REPORTING DATE, RESULTING IN A REVALUATION EFFECT OF CHF 0.2 MILLION (PREVIOUS YEAR: CHF 0.6 MILLION)

* DUE TO ONE-OFF TAX ITEMS IN PREVIOUS YEAR, NET EARNINGS AT ZÜBLIN IMMOBILIEN HOLDING AG FELL FROM CHF 6.2 MILLION TO CHF 4.6 MILLION IN FINANCIAL YEAR 2019/20

* BOARD OF DIRECTORS WILL PROPOSE DISTRIBUTION OF CHF 1.00 PER REGISTERED SHARE FROM CAPITAL RESERVES TO 2020 ANNUAL GENERAL MEETING

* TO APPOINT ROLAND FRIEDERICH, WHO HAS HELD VARIOUS MANAGEMENT POSITIONS FOR OVER TWELVE YEARS AND HAS BEEN CFO OF ZÜBLIN SINCE 2016, AS ZÜBLIN’S NEW CEO/CFO

* ZÜBLIN’S 2020/21 FINANCIAL YEAR IS LIKELY TO BE ADVERSELY AFFECTED BY COVID-19 Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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