PSP Swiss Property AG

P7S0

Equity

ISIN US74437Q2093 / Valor 1540737

Deutsche Boerse AG (2024-12-23)

EUR 26.40+1.54%

PSP Swiss Property AG
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About company

PSP Swiss Property AG is a prominent real estate company in Switzerland, specializing in owning office and commercial properties situated in key economic hubs across the country. With a portfolio value of CHF 9.6 billion, the company focuses on acquiring and managing high-quality properties in prime locations to generate sustainable returns for its investors. As a leading player in the Swiss real estate market, PSP Swiss Property AG is committed to maintaining and enhancing the value of its properties while providing attractive rental spaces for businesses in Switzerland.

Summarized from source with an LLMView SourceSector: Finance

Dividend Increase

For the year ending December 31, 2023, PSP Swiss Property AG reported very good operating results and announced an increase in the dividend to CHF 3.85 per share. This proposal will be presented at the Annual General Meeting on April 4, 2024, reflecting the company's commitment to a shareholder-friendly dividend policy.

Rental Income Growth

PSP Swiss Property AG achieved a 5.0% increase in rental income, reaching CHF 331.9 million for the year 2023. This growth was supported by an EPRA like-for-like rental income increase of 5.1%, indicating strong demand for their properties in prime locations.

Net Income and Profitability

The company's net income for 2023 was CHF 207.6 million, a decrease of 37.1% compared to the previous year. This decline was primarily due to a portfolio devaluation of CHF -161.3 million. However, net income excluding real estate gains saw a significant increase of 43.9%, reaching CHF 339.2 million.

Portfolio Valuation and Vacancy Rate

At the end of 2023, PSP Swiss Property AG's real estate portfolio was valued at CHF 9.6 billion, with a vacancy rate of 3.6%. The company completed several projects and acquisitions, including the purchase of the "Westpark" office building in Zurich, contributing to the portfolio's stability and growth.

Sustainability Initiatives

PSP Swiss Property AG made significant strides in sustainability, reducing CO2 emissions per square meter by 13.3% in 2023. The company also reported in accordance with TCFD requirements for the first time, aligning its portfolio with the 1.5°C climate target and committing to achieving net zero by 2050.

Summarized from source with an LLMView Source

Key figures

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Performance

39.9%1Y

39.3%3Y

39.3%5Y

Volatility