Brief: PSP Swiss Property Increases Dividend To CHF 3.85 Per Share.

PSP Swiss Property AG

27/02/2024 05:32

Feb 27 (Reuters) - PSP SWISS PROPERTY AG  PSPN.S :
    * ACHIEVES VERY GOOD OPERATING RESULTS AND INCREASES THE
DIVIDEND
TO CHF 3.85 PER SHARE.
    * RENTAL INCOME WAS INCREASED BY 5.0% TO CHF 331.9 MILLION
    * A DIVIDEND DISTRIBUTION OF CHF 3.85 PER SHARE WILL BE
PROPOSED
TO ANNUAL GENERAL MEETING ON 4 APRIL 2024
    * WITH EBITDA EXCLUDING GAINS/LOSSES ON REAL ESTATE
INVESTMENTS OF
CHF 297.7 MILLION AND A VACANCY RATE OF 3.6%, FORECASTS WERE
EXCEEDED
    * A DIVIDEND DISTRIBUTION OF CHF 3.85 PER SHARE WILL BE
PROPOSED
    * WE EXPECT HIGHER RENTAL INCOME IN 2024 THAN IN 2023
    * EXPECT EBITDA EXCLUDING GAINS/LOSSES ON REAL ESTATE
INVESTMENTS
OF ABOVE CHF 295 MILLION FOR 2024 FINANCIAL YEAR
    * INCOME FROM SALE OF DEVELOPMENT PROJECTS AND CONDOMINIUMS
IS
EXPECTED TO DECREASE, WHILE OPERATING COSTS WILL REMAIN STABLE.
    * WE ALSO EXPECT A RELEASE OF DEFERRED TAXES IN 2024, BUT
THIS
WILL AMOUNT TO ONLY AROUND CHF 10 MILLION. FINANCIAL EXPENSES
WILL INCREASE AGAIN DUE TO HIGHER INTEREST RATES.
    * WE EXPECT EBITDA EXCLUDING GAINS/LOSSES ON REAL ESTATE
INVESTMENTS OF ABOVE CHF 295 MILLION FOR 2024 FINANCIAL YEAR
    * WE EXPECT A VACANCY RATE OF BELOW 4% AT END OF 2024 (END
OF
2023: 3.6%).
    * AT END OF 2023, VALUE OF PORTFOLIO WAS CHF 9.6 BILLION
(END OF
2022: CHF 9.4 BILLION)

Source text for Eikon:  ID:nEQ2JRq52a 
Further company coverage:  PSPN.S 

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