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    SPSN   CH0008038389

SWISS PRIME SITE AG

(SPSN)
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Swiss Prime Site : Results first half-year 2021

08/26/2021 | 04:21am EDT

RESULTS FIRST HALF-YEAR 2021

Z U R I C H , 2 6 A U G U S T 2 0 2 1

AGENDA

  1. HIGHLIGHTS FIRST HALF-YEAR 2021
  2. RECONCILIATION RESULTS FIRST HALF-YEAR 2021
  3. KEY FINDINGS AND PROJECT PIPELINE
  4. FINANCIAL FIGURES FIRST HALF-YEAR 2021
  5. EXPECTATIONS 2021 AND SUMMARY

Zurich | 26 August 2021

Results first half-year 2021 2

H I G H L I G H T S F I R S T H A L F - Y E A R 2 0 2 1

Key results at a glance

ASSETS UNDER MANAGEMENT GROWTH

FALL IN VACANCIES

Increase in property portfolio by +1.1% to

Decrease of 0.4 percentage points to 4.7% [FY 2020

CHF 12.5 billion

5.1%]

Real Estate AuMs of Swiss Prime Site Solutions

Vacancies reduced by around 10 000 m2

up by +6.7% to CHF 3.2 billion

OPTIMISATION OF FINANCING

STRONG RESULTS*

Strong equity ratio of 47.3% [FY 2020 47.8%] LTV of 42.0% [FY 2020 41.9%]

Increase in EBIT by +36.6% to CHF 211.0 million Profit up by +42.3% to CHF 163.5 million

MODERATE COVID-19 IMPACT

POSITIVE OUTLOOK

Rent waivers of CHF -3.1 million

Increase in rental income subject to unforeseeable

Rent collection January to July 2021 at 98%

circumstances connected with the COVID-19 pandemic

Vacancies in portfolio will remain at the current level

* on a like-for-like basis (e. g. excl. proceeds from sale of Tertianum and revaluation effects)

Zurich | 26 August 2021

Results first half-year 2021 3

AGENDA

  1. HIGHLIGHTS FIRST HALF-YEAR 2021
  2. RECONCILIATION RESULTS FIRST HALF-YEAR 2021
  3. KEY FINDINGS AND PROJECT PIPELINE
  4. FINANCIAL FIGURES FIRST HALF-YEAR 2021
  5. EXPECTATIONS 2021 AND SUMMARY

Zurich | 26 August 2021

Results first half-year 2021 4

R E C O N C I L I A T I O N R E S U L T S F I R S T H A L F - Y E A R 2 0 2 1

Strong business performance on a like-for-like basis (1/2)

OPERATING INCOME

EBIT AND EBIT MARGIN (EXCLUDING REVALUATIONS)

in CHF million

in CHF million and %

425.2

3.1

362.8

4.8

72.4

4.2

Other

Assisted

341.2

living

7.5

Asset management

2.5

43.6

43.6

46.0

Retail

4.8

57.6

Real estate services

58.6

58.6

22.8

22.8

34.1

Development

219.9

208.9

213.4

Letting

+6.3%

H1 2020

H1 2020

H1 2021

reported

adjusted

361.0

211.0

154.5

58.2%

45.3%

+36.6%

H1 2020

H1 2020

H1 2021

reported

adjusted

Adjustment:Includes income from assisted living and letting (Tertianum) for two months in the financial year 2020

Adjustments:Proceeds from sale of Tertianum of CHF 204.2 million in H1 2020 and results from Tertianum for January and February 2020

Zurich | 26 August 2021

Results first half-year 2021 5

Disclaimer

Swiss Prime Site AG published this content on 25 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 August 2021 08:20:07 UTC.


© Publicnow 2021
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Financials
Sales 2021 856 M 934 M 934 M
Net income 2021 427 M 466 M 466 M
Net Debt 2021 5 162 M 5 633 M 5 633 M
P/E ratio 2021 16,9x
Yield 2021 3,48%
Capitalization 7 160 M 7 810 M 7 813 M
EV / Sales 2021 14,4x
EV / Sales 2022 15,2x
Nbr of Employees 1 455
Free-Float 99,8%
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Mean consensus HOLD
Number of Analysts 7
Last Close Price 94,25 CHF
Average target price 97,33 CHF
Spread / Average Target 3,27%
EPS Revisions
Managers and Directors
René Zahnd Chief Executive Officer
Marcel Kucher Chief Financial Officer
Ton Büchner Chairman-Supervisory Board
Christopher Michael Chambers Member-Supervisory Board
Mario F. Seris Vice Chairman-Supervisory Board