Swiss Prime Site AG (XSWX:SPSN)
CHF 98.7 1.3 (1.33%) Market Cap: 7.53 Bil Enterprise Value: 13.44 Bil PE Ratio: 43.87 PB Ratio: 1.16 GF Score: 59/100
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Half Year 2023 Swiss Prime Site AG Earnings Call Transcript

Aug 24, 2023 / 08:00AM GMT
Release Date Price: CHF83.35
RenÃ;Zahnd
Swiss Prime Site AG - CEO & Member of Executive Board

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Good morning. You can guide an FFO I flat and still not be boring as a company. So on that note, a warm welcome to those joining us online and those here today in Zurich at our balance sheet press conference. So let's start with the results for the first half year 2023. And of course, a highlight is the streamlining of our corporate structure due to the sale of Wincasa with a profit as you've been able to read in the press of CHF 146 million.

Another streamlining project starting in 2025 will be the Jelmoli operative business being phased out, which will cease at the end of 2024. And we're currently working on the redevelopment of the property starting from 2025. We had a stable fair value of CHF 13.1 billion and the revaluations, we're often asked about those. There was a slight adjustment of minus 0.74% and for the entire portfolio.

So what are we expecting for this year, and particularly for the second half of 2023? Well, that's the handover of the important development projects, Mullerstrasse in

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