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The real estate group Swiss Prime Site performed well operationally in the past financial year. The company, which owns the Prime Tower in Zurich, made significantly more profit than in the previous year. (archive image)
Keystone
The real estate group Swiss Prime Site performed well operationally in the past financial year. Income from rentals and asset management increased.
According to information released on Thursday, net profit benefited from valuation effects, among other things. The real estate group is optimistic about the future outlook. Shareholders are to receive a higher dividend of CHF 3.45 per share.
Specifically, the largest listed Swiss real estate group increased rental income by 5.7 percent to CHF 463.5 million in 2024. Profit before revaluations amounted to CHF 313.5 million after CHF 308 million in the previous year.
Including revaluations, profit rose to 360.3 million francs from 86.7 million francs in the previous year. Revaluations amounted to 113.7 million francs. In the previous year, a devaluation of 250.5 million francs was recorded here.
The value of the entire portfolio amounted to around CHF 13.1 billion at the end of 2024. The vacancy rate was reported at 3.8% (4.0%).
Swiss Prime Site exceeded analysts' expectations with most of the figures.
Management is looking to the year as a whole with confidence. Specifically, Swiss Prime Site expects consolidated FFO I to reach CHF 4.10 to 4.15 per share in 2025. In operational terms, a vacancy rate of less than 3.8 percent and assets under management at Swiss Prime Site Solutions of more than CHF 14 billion are expected.
06.02.2025, 07:31
