Swiss Properties Invest (SWISS) H2 2024 earnings summary

Executive summary

• Achieved a profit after tax of DKK 57.7 million for 2024, a 334% increase year-over-year.

• Book value of properties rose to DKK 749.9 million, up 20% from 2023.

• Equity increased to DKK 306.4 million, a 21% rise compared to last year.

• Earnings per share reached DKK 25.30, up 336% year-over-year.

• Share price at year-end was DKK 89.50, with a price-to-book ratio of 0.67, indicating market undervaluation.

Financial highlights

• Gross profit for 2024 was DKK 19.2 million, slightly down from DKK 20.2 million in 2023.

• Operating profit surged to DKK 78.0 million from DKK 25.0 million year-over-year.

• Total assets increased to DKK 756.7 million from DKK 659.3 million in 2023.

• Net cash flow from operating activities was DKK 16.1 million; investing activities used DKK 75.5 million.

• Return on equity improved to 21% from 6% last year.

Outlook and guidance

• Management expects continued portfolio growth and improved shareholder returns through further acquisitions in the Swiss commercial property market.

• Plans to seek additional capital increases to expand the property portfolio.