Switzerland · Delayed Price · Currency is CHF Swiss Prime Site AG Earnings Call Transcripts
Fiscal Year 2025
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Record organic growth in both property and asset management, with vacancy at a historic low and strong profitability gains. Guidance for 2026 is positive, with further FFO growth, lower vacancy, and continued disciplined capital allocation.
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FFO1 rose 3.4% in H1, driven by strong asset management and resilient rental growth, despite Jelmoli's closure and temporary income loss. Portfolio value reached CHF 13.3 billion, with vacancy rates set to fall below 3.8% and guidance confirmed at the upper end.
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The group has transformed into a focused real estate and asset management platform, optimizing its portfolio and targeting CHF 500 million+ rental income and CHF 16 billion+ in asset management AUM by 2028. Growth is driven by disciplined capital allocation, sustainable development, and strong recurring income, with a 10% FFO CAGR target and a stable dividend policy.
Fiscal Year 2024
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Record rental income and EBITDA growth, improved efficiency, and a lower vacancy rate drove strong results, enabling a dividend increase. Asset management expanded rapidly, supported by the Fundamenta acquisition, while capital recycling and sustainability initiatives advanced. Positive outlook continues for both real estate and asset management.
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Rental income grew 6% year-over-year to CHF 232 million, with record-low vacancies and strong asset management growth following the Fundamenta acquisition. Guidance for FFO I was raised, and LTV is set to fall below 40% by year-end, with continued focus on capital recycling and sustainability.