Real Estate

SPS Swiss Prime Site with stable profit in the first half-year

The real estate group Swiss Prime Site, owner of the Jelmoli building, is forecasting stable rental income for the year as a whole - despite the temporary loss of rents, for example from the conversion of the building on Zurich's Bahnhofstrasse. (archive picture)

Keystone

Swiss Prime Site maintained its profit at the previous year's level in the first half of 2025. Operationally, however, the company performed well once again. The real estate group is also optimistic about the future outlook and confirms its forecasts.

Keystone-SDA

21.08.2025, 07:51

According to figures released on Thursday, Switzerland's largest listed real estate group generated rental income of CHF 225.5 million in the first six months. This is a decrease of 2.8 percent compared to the same period last year. Profit before revaluations amounted to CHF 156.3 million after CHF 151.7 million in the previous year.

Including revaluations, net profit amounted to 164.2 million francs after 164.7 million francs in the previous year. Revaluations amounted to 102.0 million francs. In the previous year, there was an increase of 30.4 million francs.

The value of the entire portfolio amounted to CHF 13.3 billion at the end of June, compared with CHF 13.1 billion at the end of 2024. The vacancy rate was reported at 4.0% (end of 2024: 3.8%).

Management is confident about the year as a whole and confirms the forecasts. Accordingly, the vacancy rate should fall to below 3.8%. The strong momentum in Asset Management should continue in the second half of the year. The target of exceeding the 14 billion threshold for assets under management by the end of the year seems more than realistic in view of the attractive real estate market, the report continues.

On a consolidated level, rental income is forecast to remain almost stable, i.e. it should be possible to compensate for a large proportion of the temporary loss of rents (from Jelmoli, further conversions and sales). Even with the additional shares from the capital increase, FFO I per share should be realized at the upper end of the forecast range of CHF 4.10 and CHF 4.15.