Swiss Prime Site AG (CHIX:SPSNz)
CHF 116.5 +0.80 (+0.69%) Market Cap: 9.36 Bil Enterprise Value: 14.87 Bil PE Ratio: 26.05 PB Ratio: 1.35 GF Score: 58/100
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Full Year 2024 Swiss Prime Site AG Earnings Call Transcript

Feb 6, 2025 / 09:00 AM GMT
Release Date Price: CHF105.15 (-0.33%)

Key Points

Positve
  • Swiss Prime Site AG (XSWX:SPSN) reported a significant increase in rental income, reaching a record high of 464 million, marking a growth of almost 6%.
  • The company achieved a substantial reduction in vacancy rates, reaching a record low of 3.8%, with a medium-term goal of reducing it further to 3%.
  • Asset management showed excellent growth, with yields increasing by 42.5% and capital increases and contributions in kind totaling over 600 million.
  • The company maintained a stable property portfolio value of 13.1 billion despite selling 45 million worth of real estate.
  • Swiss Prime Site AG (XSWX:SPSN) plans to propose a dividend increase to 3.45 CHF, reflecting strong financial performance and shareholder returns.
Negative
  • The retail segment experienced a decline, with a turnover decrease of 1.7%, reflecting challenges in the retail market.
  • The company faced higher interest expenses, increasing by 11% to around 62 million, impacting overall financial costs.
  • Despite the positive outlook, geopolitical uncertainties and complex market conditions pose challenges for future growth.
  • The company anticipates a decrease in FFO due to the loss of rental income from the Elmo property, impacting future dividend payouts.
  • The process of obtaining building permits and meeting sustainability criteria has become more complex, potentially delaying project developments.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

SPSN.S - Swiss Prime Site AG
Full Year 2024 Swiss Prime Site AG Earnings Call
Feb 06, 2025 / 09:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good morning and welcome either here at our offices in the Prime Tower or maybe online from the rest of the world here at our company's media conference. I'm going to start by saying thank you Bank Von Orel who wrote it's a good day to be an SPS shareholder. That's because we have excellent results and are able to increase the dividend. I'm assuming that the annual general meeting will pass this and we're also a completely new company, stronger, more focused and profitable. And let me start on that. This is the first balance sheet media conference of a new company. So Mr Foster already mentioned this in his report, we sell the long tail when we sell and that's always those properties that don't suit our portfolio. And then we
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