immo!nvest – Die Plattform für Standorte und Immobilien

Tag: PSP Swiss Property

  • PSP Swiss Property grows profitably

    PSP Swiss Property grows profitably

    According to a statement by PSP Swiss Property , the Zug-based real estate company generated property income totaling CHF 309.64 million in the 2021 financial year. Compared to the previous year, this corresponds to growth of 4.5 percent. The operating result (EBITDA) excluding property gains such as valuation differences amounted to CHF 278.76 million in 2021, which is 2.8 percent more than in 2020. PSP Swiss Property attributes the growth primarily to increased rental income year-on-year and higher profits on the sale of development projects and condominium back.

    A net profit of CHF 595.02 million was reported in the year under review, compared to CHF 292.09 million in the previous year. In addition to the factors relevant to the operating result, the appreciation of the portfolio by CHF 464.9 million played a decisive role here. As of the end of 2021, the real estate portfolio of PSP Swiss Property was valued at CHF 9.13 billion.

    In the course of the financial year, the real estate company completed a number of projects and added them to the investment portfolio. The announcement mentions, among other things, the new ATMOS building in Zurich-West with an area of 24,000 square meters. Four investment properties have been reclassified as development projects and a number of properties have been successfully sold, explains PSP Swiss Property. No new investment properties, areas or projects were acquired in 2021.

    For the current financial year, the company anticipates an EBITDA excluding real estate gains of CHF 285 million. The focus will remain unchanged on the modernization of selected properties, our own development projects and leasing. PSP Swiss Property intends to resell non-strategic real estate, while purchases are made dependent on the added value that is expected in the long term.

  • PSP Swiss Property has a good start to the year

    PSP Swiss Property has a good start to the year

    According to a statement from PSP Swiss Property , the Zug-based real estate company generated real estate income totaling CHF 77.4 million in the first quarter of 2021. Compared to the same period in the previous year, this corresponds to growth of 4.6 percent. Operating expenses remained at the previous year's level at 13.2 percent.

    The operating result (EBITDA) excluding real estate successes and valuation differences amounted to 78.5 million francs in the quarter under review, 23.9 percent more than in the first quarter of 2020. The profit without real estate successes rose by 28.5 percent year-on-year to 61.8 million Francs too.

    At 88.8 million, net profit was 85.3 percent higher than in the previous year. The real estate company attributes the sharp rise to higher rental income, profits from the sale of development projects and condominiums, and a portfolio revaluation of CHF 33.2 million.

    The balance sheet value of the portfolio on the reporting date at the end of the quarter was CHF 8.641 billion, compared to CHF 8.577 billion at the end of 2020. In the quarter under review, PSP Swiss Property sold the Seestrasse development project in Kilchberg ZH and 13 floor units in the Residenza Parco Lago project in Paradiso near Lugano. The vacancy rate rose from 3.0 to 3.1 percent due to renovation work, among other things.

  • PSP Swiss Property defies the pandemic

    PSP Swiss Property defies the pandemic

    According to a statement from PSP Swiss Property , the Zug-based real estate company generated real estate income totaling CHF 296.27 million in the 2020 financial year. Compared to the previous year, this corresponds to a growth of 2.0 percent. The operating result (EBITDA) excluding real estate successes and valuation differences amounted to CHF 271.06 million in 2020, 5.8 percent more than in 2019.

    The net profit in the year under review was CHF 292.1 million, compared to CHF 453.4 million in the previous year. PSP Swiss Property attributes the decline to one-time effects. In the previous year, for example, a tax effect and the sale of two investment properties had a positive impact. In addition, the portfolio revaluation in 2019 brought in a total of CHF 244.2 million. In the year under review, the corresponding figure was 101.6 million francs.

    The balance sheet value of the PSP Swiss Property portfolio as of the end of 2020 was CHF 8.577 billion. As of the 2019 reporting date, the value was 7.982 billion francs. The vacancy rate was reduced from 3.5 to 3.0 percent within a year. The real estate company provides details of the portfolio change in the notification.

    For the current financial year, PSP Swiss Property is aiming for an EBITDA excluding real estate gains of around CHF 275 million. The vacancy rate is expected to increase to 4.5 percent.