Brief: Swiss Prime Site FY AUM At CHF 21.5 Bln

Swiss Prime Site AG

08/02/2024 06:08

Feb 8 (Reuters) - SWISS PRIME SITE AG  SPSN.S :
    * INCREASE IN OPERATING RESULTS IN THE 2023 FINANCIAL YEAR
    * INCREASE IN OPERATING RESULTS (FFO I) PER SHARE BY +1.3%
TO CHF
4.05
    * INCREASE IN REAL ESTATE ASSETS UNDER MANAGEMENT TO CHF
21.5
BILLION - CHF 13.1 BILLION OWN ASSETS (COMPARABLE TO PREVIOUS
YEAR) AND CHF 8.4 BILLION IN ASSET MANAGEMENT (+9%)
    * STABLE DIVIDEND PROPOSAL OF CHF 3.40 AND OPTIMISTIC
OUTLOOK
    * CAPITAL RECYCLING STRATEGY WILL BE CONTINUED, AND FURTHER
PROPERTIES WILL BE SOLD IN ORDER TO FINANCE GROWTH INVESTMENTS
WITHOUT ADDITIONAL BORROWING
    * A SLIGHT INCREASE IN FINANCING COSTS IS EXPECTED IN 2024
    * EXPECTS A MORE FAVOURABLE MARKET ENVIRONMENT FOR ASSET
MANAGEMENT BUSINESS IN 2024
    * EXPECTS AN INCREASE IN CONSOLIDATED FFO I TO CHF 4.10-4.15
PER
SHARE FOR 2024
    * ANTICIPATES A VACANCY RATE OF BELOW 4% AND A FURTHER
INCREASE IN
ASSETS UNDER MANAGEMENT AT SWISS PRIME SITE SOLUTIONS TO OVER
CHF 9 BILLION.
    * INCREASE IN RENTAL INCOME BY 4.3% (EPRA LFL) AND REDUCTION
IN
VACANCIES TO 4.0%
    * PORTFOLIO BOASTED A STABLE VALUE OF CHF 13.1 BILLION AS AT
END
OF 2023
    * CHRISTOPHER CHAMBERS HAS DECIDED NOT TO STAND FOR
RE-ELECTION
AND WILL RETIRE FROM BOARD IN MARCH 2024.

Source text for Eikon:  ID:nEQ4fxFXPa 
Further company coverage:  SPSN.S 

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