Brief: PSP Swiss Property Confirms 2024 EBITDA Guidance At CHF 300 Mln

PSP Swiss Property AG

12/11/2024 05:37

Nov 12 (Reuters) - PSP SWISS PROPERTY AG  PSPN.S :
    * ACHIEVED AGAIN GOOD OPERATING RESULTS AND CONFIRMS THE
GUIDANCE
OF AN EBITDA OF CHF 300 MILLION FOR FY 2024. THE VACANCY RATE IS
NOW EXPECTED TO BE 3.5% AT YEAR-END 2024.
    * CONFIRMS EBITDA GUIDANCE OF CHF 300 MILLION FOR FY 2024
    * AT END OF Q3 2024, VALUE OF REAL ESTATE PORTFOLIO WAS CHF
9.7
BILLION
    * VACANCY RATE WAS 3.6% (END OF H1 2024: 4.0%)
    * OF LEASE CONTRACTS MATURING IN 2024 (CHF 31.3 MILLION), 3%
WERE
OPEN AT END OF Q3 2024
    * WAULT (WEIGHTED AVERAGE UNEXPIRED LEASE TERM) OF TOTAL
PORTFOLIO
WAS 4.8 YEARS AT END OF Q3 2024
    * 9M RENTAL INCOME INCREASED BY CHF 14.4 MILLION OR 5.8% TO
CHF
262.0 MILLION
    * LIKE-FOR-LIKE, 9M RENTAL INCOME INCREASED BY CHF 7.7
MILLION OR
3.7%
    * 9M EARNINGS PER SHARE EXCLUDING GAINS/LOSSES ON REAL
ESTATE
INVESTMENTS AMOUNTED TO CHF 3.71
    * 9M NET PROFIT REACHED CHF 225.9 MILLION (Q1-Q3 2023: CHF
155.3
MILLION)
    * EQUITY PER SHARE (NET ASSET VALUE; NAV) AMOUNTED TO CHF
114.76
AT END OF Q3 2024
    * FINANCIAL EXPENSES WILL INCREASE COMPARED TO 2023 FOR
KNOWN
REASONS
    * OUTLOOK 2024: VACANCY RATE IS NOW EXPECTED TO BE 3.5% AT
YEAR-END 2024 PROPERTIES
    * EBITDA EXCLUDING GAINS/LOSSES ON REAL ESTATE INVESTMENTS
IS
STILL EXPECTED TO BE CHF 300 MILLION FOR 2024 FINANCIAL YEAR

Source text:  ID:nEQblC0F4a 
Further company coverage:  PSPN.S 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))