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PSP Swiss Property's nine-month operating profit rises 15% on asset sale

By Reuters News


Overview

  • Switzerland commercial property firm's nine-month EBITDA rose 15% yr/yr, driven by asset sale

  • Net income excluding gains/losses on real estate investments up 22%, EPS rose 14% yr/yr

  • Rental income dipped slightly as a result of property sales


Outlook

  • PSP Swiss Property confirms 2026 EBITDA guidance of CHF 335 mln excluding real estate gains/losses

  • Company expects vacancy rate of 3.5% at end-2026

  • Company expects strong demand for high-quality office and retail space in central Swiss locations


Result Drivers

  • ASSET SALE - Co said EBITDA growth was mainly due to sale of 'Richtipark' development project in Wallisellen

  • ROBUST LETTING MARKET - Co said demand for high-quality office and retail space in central locations remained strong

  • PROPERTY REVALUATIONS - Co reported positive market value adjustments for investment and development properties


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

9M EPS

CHF 6.42

9M EBITDA Margin

86.30%

9M ROE

6.90%


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 5 "hold" and 3 "sell" or "strong sell"

  • The average consensus recommendation for the real estate rental, development & operations peer group is "buy."

  • Wall Street's median 12-month price target for PSP Swiss Property AG is CHF157.00, about 0.4% above its November 9 closing price of CHF156.30

  • The stock recently traded at 30 times the next 12-month earnings vs. a P/E of 28 three months ago


Reuters Recommended Reads

  • Nov 10 - Switzerland's LEM Holding H1 sales rise on strength in automation, renewable energy and energy distribution segments

  • Nov 9 - Swiss neutrality proponents challenge arms firms in vote on easing of exports

  • Nov 9 - Just Eat Switzerland cuts 373 courier jobs in Switzerland


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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