Swiss Prime Site Ag (SWPRF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the Swiss Prime Site Half-Year 2026 Earnings Conference. The presentation will be followed by a Q&A session. For those of you who have joined the Zoom webinar, you can use the raise hand function at the bottom of your Zoom screen at any time to join the queue to ask a question, and you'll be called upon during the Q&A session. I'll now hand over to your host, Marcel Kuecher, CEO of Swiss Prime Site. A very warm welcome here from the 34th floor on Prime Tower. A very warm welcome in the name of Anastasios Chopp, who's here with me, Martina Mosman, and we also have Karin Vogt here, our CIO for our own portfolio. What we're going to do today is we'll have a short presentation on our half-year results through 2026, followed then by Q&A. And then afterwards, we let you go into a beautiful day here in Zurich. To start with, the key messages. Overall, we had a successful first year, 2026, with a very strong operating performance, and we continue to see attractive growth momentum. We see that in our own portfolio with a strong leasing momentum. Most importantly, Alto Port Rouge is now fully leased. With a strong demand at Fra Munster Post, we are still finishing up the renovation, driven by AI companies and major lease extensions here at the Prime Tower and other campuses across our portfolio. Second element here, we achieved very important development milestones. The first one here, for sure, is the mock halls in Zurich, but also Alte Fing, and I'll talk more about that later on. Further, the portfolio quality enhanced through the disposals of 167 million of smaller, mostly retail assets. Those were five assets which we already sold last year, but they closed now in the first half of 2026. Despite those sales, our rental income was up 2.2%. Including the sales, i...