ANNUAL RESULTS 2022
Z U R I C H , 9 F E B R U A R Y 2 0 2 3
AGENDA
1 | KEY MESSAGES | PAGE 3 |
2 | FINANCIALS | PAGE 10 |
3 | PORTFOLIO & SUSTAINABILITY | PAGE 22 |
4 | OUTLOOK & AGM | PAGE 41 |
Zurich | 9 February 2023 | Annual results 2022 2 |
K E Y M E S S A G E S
Solid results on all levels | Targets met (1/2)
GROWTH IN OPERATING INCOME | INCREASE IN RENTAL INCOME | |
▪ Increase by +3.3% to CHF 774.4 million | ▪ | Rental income from properties up by 1.1% to CHF 431.3 |
▪ Solid growth in all segments; particularly strong in | ▪ | million (LfL: 1.9%) |
Asset Management | Vacancy rate down to 4.3% (2021: 4.6%) | |
ATTRACTIVE REAL ESTATE PORTFOLIO
- Real estate portfolio with a fair value of CHF 13.1 billion (+2.3%) with revaluations of CHF 172.8 million mainly driven by an increase in rents and lower vacancy rate
STRONG ASSET MANAGEMENT
- Organic growth of AuM managed by Swiss Prime Site Solutions of CHF 1.8 billion (total CHF 7.7 billion)
- Target EBIT of CHF 30 million reached
COSTS UNDER CONTROL
- Increase in adjusted costs in line with top line development
- One-offcosts from impairments linked to Jelmoli repositioning and IT
EBIT GROWTH
- Adjusted EBIT up by 6% to CHF 430.7 million (before revaluations and one-off items)
Zurich | 9 February 2023 | Annual results 2022 3 | |||||
K E Y M E S S A G E S
Solid results on all levels | Targets met (2/2)
NEW FINANCING PAYS OFF | STRONG BALANCE SHEET AND FFO | ||
▪ Significant improvement in financial performance | ▪ Stable equity ratio of 47.7%; real estate LTV significantly | ||
▪ | and flexibility | ▪ | reduced from 40.2% to 38.9% |
Extension of the credit facilities by one year | EPRA NTA increased to CHF 102.69 per share (+1.7%) | ||
▪ | Average interest rate at 0.90% | ▪ | FFO I per share up from CHF 4.01 to CHF 4.26 (+6.2%) |
SUSTAINABILITY MANAGEMENT | ANNUAL GENERAL MEETING |
▪ Strong improvement of GRESB-score | ▪ Proposal for distribution of dividend of CHF 3.40 per share |
in 2022 88 / 100 (+10 points) | [2021: CHF 3.35 per share] |
▪ 75% of lettable floorspace within the | ▪ Election of Reto Conrad to the Board of Directors proposed |
property portfolio certified | ▪ Amendments to the Articles of Association in the context of |
the revision of Swiss corporate law |
Zurich | 9 February 2023 | Annual results 2022 4 | |||||
K E Y M E S S A G E S
Key figures for 2022
ABSOLUTE
RENTAL INCOME | AUM |
RE AL E S TATE | AS S E T M ANAGE M E NT |
in CHF million | in CHF million |
EBITDA¹
in CHF million
PROFIT¹
in CHF million
PER SHARE
FFO I | DIVIDEND |
in CHF | in CHF |
EPRA NTA
in CHF
431.3 | |
426.7 | |
2021 | 2022 |
+1.1% |
7.7 | |
3.6 | |
2021 | 2022 |
+108% |
448.6 | |
428.1 | |
2021 | 2022 |
+4.8% |
300.6 | |
293.7 | |
2021 | 2022 |
+2.4% |
4.26 | |
4.01 | |
2021 | 2022 |
+6.2% |
3.35 | 3.40² |
2021 | 2022 |
+1.5% |
102.69 | |
100.93 | |
2021 | 2022 |
+1.7% |
- before revaluations.
- as proposed to the AGM.
Zurich | 9 February 2023 | Annual results 2022 5 | |||||
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