Swiss Prime Site Full Year 2023 Earnings: Misses Expectations

Swiss Prime Site (VTX:SPSN) Full Year 2023 Results

Key Financial Results

• Revenue: CHF672.4m (down 18% from FY 2022).
• Net income: CHF86.7m (down 79% from FY 2022).
• Profit margin: 13% (down from 49% in FY 2022).
• EPS: CHF1.13 (down from CHF5.27 in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Swiss Prime Site Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 5.9%. Earnings per share (EPS) also missed analyst estimates by 39%.

Looking ahead, revenue is expected to fall by 7.8% p.a. on average during the next 2 years compared to a 6.0% decline forecast for the Real Estate industry in Switzerland.

Performance of the Swiss Real Estate industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

You should learn about the 4 warning signs we've spotted with Swiss Prime Site (including 1 which is a bit concerning).

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