Brief: Swiss Prime Site - Guidance Increased For 2024 Financial Year

Swiss Prime Site AG

22/08/2024 06:07

Aug 22 (Reuters) - SWISS PRIME SITE AG  SPSN.S :
    * STRATEGIC AND OPERATIONAL PROGRESS WITH INCREASED EARNINGS
IN
FIRST HALF OF 2024
    * GROWTH IN SWISS PRIME SITE SOLUTIONS' ASSETS UNDER
MANAGEMENT TO
CHF 12.7 BILLION (CHF 8.4 BILLION AS AT DECEMBER 2023)
    * OPTIMISTIC OUTLOOK - GUIDANCE INCREASED FOR 2024 FINANCIAL
YEAR
    * INCREASE IN FUNDS FROM OPERATIONS (FFO I) PER SHARE BY
4.6% TO
CHF 2.03
    * INCREASE IN CONSOLIDATED OPERATING RESULT BEFORE
DEPRECIATION
AND AMORTISATION (EBITDA) BY 3.5% TO CHF 205 MILLION
    * EXPECTS A VACANCY RATE OF AROUND 3.8% FOR FULL FINANCIAL
YEAR
    * SWISS PRIME SITE AG SEES LTV FOR PROPERTY PORTFOLIO THAT
WILL
RETURN TO BELOW 40% IN SECOND HALF OF YEAR
    * ANTICIPATES AN INCREASE IN FFO I TO BETWEEN CHF 4.15 AND
4.20
PER SHARE
    * H1 INCREASE IN RENTAL INCOME TO NEW HIGH OF CHF 232
MILLION
(+6.0% ABSOLUTE; +3.7% LFL)
    * SWISS PRIME SITE AG - REDUCTION IN VACANCIES TO RECORD LOW
OF
3.6%
    * PROPERTY VALUE INCREASED BY CHF +73 MILLION TO CHF 13.15
BILLION
COMPARED TO YEAR-END 2023

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

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