Swiss Prime Site Ag Stock Earnings Reports

Swiss Prime Site delivered a resilient Full Year 2025 with a balanced mix of portfolio performance, active asset management growth and strong financing access. Key financials: like-for-like rental growth ~2%, consolidated EBITDA broadly stable (comparable EBITDA +3.4%), FFO I per share CHF 4.22 (unchanged), EPRA NTA up ~2% to CHF 101.40. The company reduced vacancy to a record-low 3.7% (operational 3.2%), completed ~CHF 550m of acquisitions for its own portfolio and ~CHF 1.7bn of transactions in asset management, while Swiss Prime Site Solutions attracted a record ~CHF 1bn of new money bringing AUM to ~CHF 14.3bn. Development pipeline includes Jelmoli (total investment ~CHF 210m, staggered office completion from mid-2028), YOND campus and Fraumunsterpost. Financing highlights: access to Eurobond market with EUR 500m issuance oversubscribed ~8x, average interest cost reduced to ~0.94%, LTV for Real Estate ~38.1% and liquidity reserves ~CHF 1.1bn. Outlook: FFO guidance CHF 4.25–4.30 per share for 2026, target LTV <39%, further vacancy improvement expected and another ~CHF 1bn AUM growth forecast for Solutions in 2026. Management emphasizes continued focus on high-quality core locations, capital recycling (~CHF 250m expected sales for 2026), cost efficiency, sustainability (40% of portfolio eligible under Green Finance Framework) and maintaining a high share of recurring fees (~65%).