Switzerland's PSP Swiss Property FY profit rises 8.9% on office-spaces demand

PSP Swiss Property AG

24/02/2026 05:39

Overview

Swiss real estate firm's 2025 net income rose 8.9% due to higher property value changes

Rental income for 2025 slightly decreased by 0.2% compared to 2024

Company increased dividend to CHF 3.95 per share

Outlook

PSP Swiss Property expects 2026 EBITDA excluding real estate gains of CHF 310 mln

Company anticipates stable rental demand in Swiss property market for 2026

PSP Swiss Property forecasts 2026 vacancy rate at 3.5%

Result Drivers

PORTFOLIO APPRECIATION - PSP Swiss Property's portfolio appreciated by CHF 231.1 mln, driven by successful rentals in Zurich's high-street retail segment and expectations of higher market rents

STABLE LETTING MARKET - Demand for high-quality office spaces in central locations like Zurich and Geneva remained strong, supporting stable letting market conditions

INVESTMENT MARKET UPTURN - Investment market improved with lower interest rates and better financing conditions, favoring investors with strong equity bases

Company press release: ID:nEQb9y06Ba

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
FY EPS
CHF 8.91
FY EBITDA Margin
85.10%
FY ROE
7.40%


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 5 "hold" and 2 "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 CHF145.00, about 8.4% below its February 23 closing price of CHF158.30

The stock recently traded at 31 times the next 12-month earnings vs. a P/E of 26 three months ago

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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.)