PSP Swiss Property posts excellent operational results for 2023 and increases its dividend

PSP Swiss Property announced a significant increase in its operating results for the year ending December 31, 2023, with a 5.0% increase in rental income reaching CHF 331.9 million. The company also exceeded its forecasts with an EBITDA excluding gains/losses on real estate investments of CHF 297.7 million and a vacancy rate of 3.6%.

A higher dividend of CHF 3.85 per share will be proposed at the Annual General Meeting, reflecting the company's confidence in its ability to generate excellent operating results and continue its shareholder-friendly dividend policy. PSP Swiss Property underlines the stability and quality of its real estate portfolio, despite a devaluation of CHF -161.3 million corresponding to 1.7% of the value of the portfolio at the end of 2022.

The company places emphasis on the sustainable development of its properties, with a significant reduction in CO2 emissions per m2 of 13.3% more compared to the previous year. It continues its commitment to a net zero objective by 2050 and adds an ESG factor to the variable remuneration of its executive committee from 2024.

Looking to the future, PSP Swiss Property expects rental income to increase in 2024 and forecasts EBITDA excluding gains/losses on real estate investments above CHF 295 million. The company continues to see opportunities in the market despite rising interest rates and challenging property valuations.