PSP Swiss Property AG (0QO8) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, welcome to the PSP Swiss Property Q1 twenty twenty six Results Conference Call. My name is Youssef, the Chorus Call operator. I would like to remind you that all participants will be in listen only mode and that the conference is being recorded. The presentation will be followed by a question and answer session. The conference must not be recorded for publication or for broadcast. At this time, it's my pleasure to hand over to Giacomo Valzarini, CEO of PSP Swiss Property. Please go ahead, sir. Thank you, and good morning, everybody, and welcome to this fourth presentation and Q and A, as always, in the Q1 and Q3. I will limit myself to some headline updates and then leave the room for the questions. Today, we reported a very solid Q1 results in line with our expectations. We show a solid top line growth, very stable cost base, basically very in line and very predictable. The like for like growth was 0.6%. If you take out the one off on the cost of last year on RIDIMOUR CHE, the like for like would have been 1.7%, and that's also what we roughly guide for the full year, around the 1.5%, 1.8% on the like for like. The lending and transactional market is unchanged since the last week and February 2006 is very supportive to our strategy and what we observed is that our strategy to focus on prime assets, the primary cities is certainly the winning one. Letting success in the first quarter led to an appreciation of one property on the Ledenbroi. As you recall, we normally value the portfolio twice a year, but if you have a significant lending success, which has an impact on assets of more than $5,000,000 we have to value that asset by this revalue. This was the case in Lilleberg and resulted in a valuation of risk of more than 13,000,000 On the projec...