Property company increases profit and expands in asset management
Swiss Prime Site hat Betriebsergebnis und Gewinn pro Aktie im Geschäftsjahr 2024 im Jahresvergleich gesteigert. Als Wachstumstreiber fungierten Mieterträge, Effizienzsteigerung und die Ausweitung des Immobilienvermögens.
Swiss Prime Site is reporting a consolidated operating profit at EBITDA level of CHF 415.1 million for the 2024 financial year. This corresponds to year-on-year growth of 6.5 per cent, the Zug-based real estate company reported in a press release. At the same time, cash earnings per share rose by 4.2 per cent to CHF 4.22.
Rental growth and the property portfolio as well as higher income in asset management contributed to the positive developments. Rental income increased by 5.7 per cent year-on-year to CHF 463.5 million. In Asset Management, the operating result at EBITDA level increased by 47 per cent to CHF 42.0 million. The acquisition of the Fundamenta Group’s property asset manager in April was the main contributor to this. Consolidated operating expenses fell year-on-year from CHF 269.4 million to CHF 257.0 million.
The value of Swiss Prime Site’s property portfolio amounted to CHF 13.1 billion at the end of 2024. The company recorded positive revaluations of CHF 113.7 million. In the reporting period, 23 properties with a total market value of CHF 345 million were sold.
“In the past financial year, the focus was on implementing our strategy of consistently focussing on our core competence of real estate,” said Swiss Prime Site CEO René Zahnd in the press release. “With the acquisition of the Fundamenta Group, we have become by far the largest independent property asset manager in Switzerland and cover focused strategies in both the commercial and residential segments with our investment vehicles.”