Swiss Prime Site can significantly increase profit
SPS Swiss Prime Site AG significantly increased its earnings and profit in the financial year: total income rose by 10 percent year-on-year to CHF 1.15 billion, thus reaching a new record level; rental income increased by 3.7 percent to CHF 469.9 million.
Swiss Prime Site closed the 2017 financial year with good results. At CHF 1,154.8 million, operating income reached a new high and increased by 10 percent compared to 2016. Both the core real estate business (+14.6%) and the real estate-related Group companies (+7.2%) contributed to this. The value of the real estate portfolio increased to CHF 10.6 billion (10.1 billion) as of the balance sheet date. The net return on the real estate portfolio was 3.7 percent (3.7%). The vacancy rate fell to 5.2 percent (6.1%), an improvement of around one percentage point. Swiss Prime Site achieved a profit of CHF 305.5 million (311.1 million) or CHF 307.4 million (+12 %) excluding revaluations and deferred taxes. Earnings per share excluding revaluations and deferred taxes reached CHF 4.30 (3.91). In the 2017 financial year, Swiss Prime Site reported for the first time in accordance with the Swiss GAAP FER accounting standard (until 31 December 2016: IFRS). The previous year's figures have been adjusted accordingly. Shareholders are to receive a dividend of CHF 3.80 per share (previous year: 3.70) on the basis of the pleasing figures. For the current financial year 2018, SPS expects an increase in operating income and EBIT before revaluations.
