PSP Swiss Property : Q1 2024 results: Strong results; partially driven by one offs; Ebitda outlook raised 2%; TP to CHF 125
>Beat in rental income and earnings driven by positive one-offsFY2024 outlook: EBITDA excl. gains/losses on RE investments increased to CHF 300m (was CHF 295m before), for a large extend due to one-off benefits.Like-for-like growth 6.6%, adjusted for two one-off effects 3.3% (FY2023 5.1%). Positive revaluations CHF 31.2m (FY2023 -161.3m or -1.7%). Regular revaluations are done semi-annually and changes in Q1 are due to property-specific changes.PSP d...
PSP Swiss Property is a holding company. Co. operates under three business segments: real estate investments, which includes the real estate business that comprises all properties of Co.'s investment properties, investment properties earmarked for sale, own-used properties, sites and development properties as well as development projects earmarked for sale; real estate management, which includes all services and activities with regard to the management of Co.'s own real estate portfolio; and holding, which includes the corporate functions such as finance, legal, corporate communications, human resources and information technology.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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