PSP Swiss Property H1 profit rises on asset sale, portfolio revaluations

PSP Swiss Property AG

18/08/2026 05:43

Overview
Switzerland real estate firm's H1 rental income flat yr/yr, EBITDA up 26% on asset sale
Net income for H1 rose 22%, EPS reached CHF 5.16
Company confirms full-year EBITDA guidance; Moody’s upgrades credit rating to A2

Outlook
Company confirms 2026 EBITDA guidance of CHF 335 mln, unchanged from previous forecast
Company continues to expect vacancy rate of 3.5% at end-2026
Company expects robust demand for high-quality office space in central locations to support letting market

Result Drivers
RICHTIPARK SALE - Sale of 'Richtipark' development project drove EBITDA and net income growth
PROPERTY REVALUATIONS - Portfolio revaluations, especially in Zurich, contributed to net income
MODEST RENTAL INCOME GROWTH - Rental income flat yr/yr, with only a 0.7% like-for-like increase

Company press release: ID:nEQ3HVkfxa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 EPS
 
CHF 5.16
 
H1 EBITDA Margin
 
87.10%
 
H1 ROE
 
8.30%
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 3 "hold" and 3 "sell" or "strong sell"
The average consensus recommendation for the real estate rental, development & operations peer group is "buy."
Wall Street's median 12-month price target for PSP Swiss Property AG is CHF155.00, about 8.9% above its August 17 closing price of CHF142.30
The stock recently traded at 27 times the next 12-month earnings vs. a P/E of 30 three months ago

Reuters Recommended Reads
Aug 17 - Switzerland's HIAG Immobilien H1 net income jumps 90% on Chama condominium sales, revaluation gains
Aug 18 - Hong Kong's Prosperity REIT H1 revenue falls 2.7% on office market pressure
Aug 17 - Generation Income Properties Q2 revenue falls on sale of asset 

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)