Momentum prevails. ingly stable. year s period had not yet included the results of Jelmoli

Transcription

1 Number 23 in September 2010 NAV CHF as at CHF as at before deferred taxes securities number SIX symbol SPSN Swiss Prime Site AG first half-year 2010 Momentum prevails Swiss Prime Site posted a surge in rental income of 99.6% to CHF million and boosted EBIT by 84.4% to surpassing the previous year s level of CHF million by 99.6%. Total operating Stability Swiss real estate market remains surpris- CHF million in the first half of The previous income amounted to CHF million ingly stable. year s period had not yet included the results of Jelmoli [CHF million]. This figure included Page 3 Group, which has been fully consolidated since the acquisi- turnover from the retail trade segment from tion date of 29 October Profit attributable to share- proprietary-managed floor space of Jelmoli holders increased by 53.8% to CHF million. Net asset The House of Brands department store on value (NAV) after deferred taxes amounted to CHF as Zurich s Bahnhofstrasse (CHF 66.6 million), of 30 June The value of the real estate portfolio Hotel Ramada Encore in Geneva (CHF 4.7 increased by CHF 4.3 billion to CHF 8.1 billion within a year, million) and Jelmoli Bonus Card Ltd. (CHF 6.8 Markus Graf, CEO of Swiss Prime Site AG particularly due to the Jelmoli acquisition. Swiss Prime Site remains optimistic regarding the further course of the financial year million). The majority interest held in Jelmoli Bonus Card Ltd., regarded as a non-core business activity, was sold to Swiss banking group Prime Tower Amazed reactions surrounding topping-out Valartis in May ceremony. Swiss Prime Site AG continued to exhibit an impressive per- Page 4 formance in the first half of 2010 as well in its new dimension Earnings before interest and taxes (EBIT) in- as leading real estate investment company in Switzerland. cluding revaluation rose by 84.4% from CHF While there were still integration costs to be booked in the million to CHF million. Without the first half-year, the synergies emanating from the merger of effects of revaluation, EBIT increased by Swiss Prime Site and Jelmoli Group already began to notice- 99.0% to CHF million [CHF 82.5 million]. ably emerge in individual segments. The Jelmoli figures were Net profit before revaluation climbed by fully consolidated in the first-half 2010 results for the first time over an entire reporting period, and only fully consolidated in the financial year 2009 starting from the acquisition date of 68.8% to CHF 84.9 million [CHF 50.3 million]. Weighted earnings per share after revaluation totaled CHF 2.00 [CHF 2.89]. Net asset value Sihlcity The unique urban entertainment centre has 29 October (NAV) before deferred taxes amounted to definitely established itself. CHF as of 30 June 2010 [CHF Page 8 The Company succeeded in maintaining occupancy rates at as of ], after taking into account very high levels, unhindered by the uncertainties surrounding the nominal value reduction of CHF NAV the demand for office and retail floor space. In fact, the loss after deferred taxes amounted to CHF of earnings rate amounted to merely 4.0% [3.7%], which is [CHF 59.52]. regarded as re-affirmation of the strong economic resilience of prime sites. Rental income reached CHF million, Continued on page 2

2 2 business news l Number 23 in September 2010 Swiss Prime Site share with blue chip quality With the acquisition and integration of Jelmoli Group, Swiss Prime Site has become the leading real estate investment company in Switzerland. The Swiss Prime Site share gained terrain by 12.8% on the Swiss stock exchange in the first six months of this year, thus beating the Swiss Performance Index SPI ( 3.9%) as well as the Swiss real estate index SXI Real Estate Shares (10.7%). The discount of 2.6% as of has turned into a premium of 13.3%. Market capitalisation rose from CHF 3.2 billion to CHF 3.6 billion in the same period. Stock exchange volume per trading day amounted to CHF 8.8 million, corresponding to an increase of 74% versus Swiss Prime Site has noticeably boosted its visibility thanks to its listing on indices such as EPRA or STOXX. In fact, Swiss Prime Site stock ranks among the securities with the heaviest weighting listed on the new real estate indices of the SIX Swiss Exchange. The Company s share holds weightings of roughly 10% and 41% in the overall index SXI Real Estate and the SXI Swiss Real Estate Shares index, respectively. In addition, the Swiss Prime Site share will be listed on the mid-cap index SMIM of the SIX Swiss Exchange as of 20 September This move will additionally boost Swiss Prime Site s notoriety, thereby expanding the potential investor base as well. The SMIM comprises the 30 largest mid-cap stocks on the Swiss equity market. This year s distribution to shareholders amounted to CHF 3.50 per share [versus CHF 3.40 the previous year] and was carried out through a reduction in nominal value from CHF to CHF per share. The payout on 12 July 2010 corresponded to a cash yield of 6.0%, as measured by the share price as of 31 December The average weighted interest rate on all financial liabilities amounted to 2.8% [3.1%], with an average residual term to maturity of 3.9 [4.1] years. Focus on synergies After concluding the integration of Jelmoli Group according to plan in the first quarter of 2010, Swiss Prime Site directed its focus on implementing the legal- and tax-related restructuring activities in the second half of the reporting period which have been completed for the most part as well as on exploiting synergies. Indeed, the Company is realising synergies on the cost side through repositioning former Jelmoli employees of the real estate segment via partner firms, restructuring the financing of Jelmoli Group, optimising taxes and undertaking numerous efficiency-boosting measures. «Our proven business model, based on operating with extremely streamlined structures, has now been applied to the Jelmoli real estate as well,» declares Swiss Prime Site CEO Markus Graf. Since April 2010, the roughly 130 properties acquired with Jelmoli have been incorporated in Swiss Prime Site s tried and tested management and reporting system. Retail trade segment The new retail trade segment realised retail trade turnover of CHF 71.3 million in the first half of 2010, which was attributable mainly to Jelmoli The House of Brands department store. Sales declined primarily as a consequence of the temporary shutdown of partial floor space due to restructuring activities as well as to the prolonged period of bad weather in spring. The department store on the Bahnhofstrasse will be expanded in several stages until the end of October 2010 to become a leading department store focusing on international brands. Property portfolio The property portfolio realised a surge in growth of 111.4% year-on-year to CHF 8.1 billion, attributable primarily to the Jelmoli-acquisition, with the value of the portfolio increasing by CHF 55.9 million in the first half of The changes recorded this year resulted from the divestiture of ten properties that did not conform with the investment strategy, on the one hand, and from advanced progress of ongoing construction projects and renovations as well as increases in fair value of existing investment properties, on the other. These properties particularly include the projects at the Maag site in Zurich (Prime Tower with annex buildings Diagonal and Cubus, in addition to Platform) and the Business Park in Basel. As at 30 June 2010, the portfolio comprised 220 [106] properties, including 16 [17] building land parcels. The real estate holdings are significantly more broadly diversified versus the previous year s period due to the Jelmoli integration. While the proportion of the Zurich market region declined from 46% to 38%, the share of the Geneva region expanded from 9% to 22%. The proportion of properties located in Northwestern Switzerland edged up slightly from 18% to 20%, while the share of the Berne region decreased from 12% to 7% and that of Central Switzerland from 9% to 5%. Swiss Prime Site will continue to forge ahead in the second half of the year with the portfolio restructuring already initiated, leading to total projected sales revenues of CHF million for the financial year Celebrating the topping-out ceremony for Prime Tower and Platform The topping-out ceremony for Prime Tower and the Platform corporate building took place in July 2010 at the Maag site in Zurich West (see the report on pages 4/5). With a height of 126 meters, Prime Tower is the tallest building in Switzerland and has nothing to hide regarding sustainability either. The tower is slated for certification according to the Swiss sustainability rating greenproperty as well as the international certification system LEED (Leadership in Energy and Environmental Design). Construction on Prime Tower, its two annex buildings Cubus and Diagonal, as well as Platform will be completed in May Tenants will be able to move into their new floor space in summer The occupancy rate amounts to 75%, and investment costs for all four buildings total CHF 355 million. Outlook Swiss Prime Site sees no signs of diminishing demand for floor space. The attractive locations and high-quality of the buildings provide a good safeguard against any spurt in vacancies. Moreover, the large share of long-term and indexed rental agreements should prevent any significant fluctuations in occupancy rates as well. Swiss Prime Site estimates a loss of earnings rate for the current year that is noticeably below the 5% threshold. Furthermore, the Company is confident that it will succeed in reaching or surpassing the very favourable overall results achieved in the financial year 2009 (excluding special effects) in the financial year Work is proceeding at full pace on the Platform building alongside Prime Tower. The handover to Ernst & Young Ltd is scheduled for May 2011.

3 Number 23 in September 2010 l MARKET 3 Swiss real estate market Small, but strong Switzerland has been much less affected by the global financial and economic crisis than other nations. The country has proven to be an island of stability and prosperity attributes that apply to the real estate market as well. Switzerland posted growth in gross domestic product (GDP) in the first quarter of 2010, too. In fact, GDP has continued to pick up again since mid-2009 in the wake of shrinking significantly in the second half of 2008 and particularly in the first quarter of last year. As measured by the trend in GDP, the country seems to have surmounted the financial and economic crisis in the aftermath of recording roughly three quarters of negative growth. «Fears that the upswing is merely temporary and that recession could still be looming have not been affirmed,» according to comments released by the KOF (Swiss Institute for Business Cycle Research) of the ETH Zurich in its summer forecast in mid-june Peter Wullschleger, CFO Swiss Prime Site «Our loss of earnings rate has continuously remained well under the 5% mark since 2007, and we aim to stay below this threshold in 2010 as well.» restricted to a budget deficit of 3% of GDP in accordance with the Maastricht criteria, some countries just fail to comply with this set limit and violations go unsanctioned. The dramatic surges in public deficits and government debts in some countries, coupled with the ongoing existing imbalances in international trade, harbour risks for the global economy. «Switzerland will also be unable to evade these risks. One factor of uncertainty for the country is the trend in the real external value of the Swiss franc, in particular,» warned KOF officials in spring The Swiss real estate market an exceptional case While the Swiss economy has surmounted the global financial crisis quite well to date, the turbulence has had no effect at all on the country s real estate market. There has been neither a slump in house prices, nor a surge in vacancy rates. Demand for residential real estate has remained persistently robust, underpinned by low mortgage interest rates and immigration. Even the office and retail real estate sectors which are regarded as more sensitive to economic swings have shown scant signs of any symptoms from the effects of the crises up to now. Swiss Prime Site CEO, Markus Graf, forecasts a predominately stable trend for the Company s real estate holdings. «Roughly two-thirds of our rental contracts have durations of three years or more. Since our locations are so attractive, any expiring contracts are almost always renewed.» For CFO Peter Wullschleger, the loss of earnings rate constitutes an indicator for the quality and continuity of the investment strategy. «Our loss of earnings rate has continuously remained well under the 5% mark since 2007, and we aim to stay below this threshold in 2010 as well.» Differentiation is essential The resumption of overall global economic growth as well as the surprisingly broad-based upswing in the second quarter of 2010 in Germany by far Switzerland s most important trading partner justify a favourable assessment of the foreseeable trend for the Swiss economy and real estate market. Investors who were already invested in solid Swiss properties during the economic crisis managed to steer clear of the, in some cases, severe setbacks in value suffered by foreign real estate markets and can now reap benefits from intact potential for gains in value. Markus Graf, CEO Swiss Prime Site «Since our locations are so attractive, any expiring contracts are almost always renewed.» Nevertheless, investors who are looking to invest in the Swiss real estate market or aim to continue holding their investments would be well advised to take a somewhat closer look at the assets, since subsequent repercussions could certainly leave their mark on the country s real estate market as well. «Second-class properties in peripheral locations are increasingly coming under pressure,» notes Swiss Prime Site CIO Peter Lehmann. Overall demand for office floor space should diminish, leading to rising vacancy rates for B- and C-class properties. Higher vacancy risks can also be expected for retail floor space in many older and smaller shopping centres. In contrast, the demand for prime sites still seems to be hovering at a high level, from which companies such as Swiss Prime Site reap rewards. This positive trend is attributable to numerous factors, including indisputable advantages such as Switzerland s political stability, highly sophisticated and well-maintained infrastructure, advanced level of education and vocational training, as well as research and development, strength of the Swiss franc and financial centre, in addition to the country s global competitiveness as a business location and, as such, the economy s close international ties. Healthy government budget, global risks Switzerland s handling of public finances deserves special consideration. A consensus prevails in this country that the government budget, in principle, should be balanced and deficits should be held strictly in check. Average citizens also expect the same discipline from the government that they exercise in their own private households, where uncontrollable expenditures are unheard of. This also explains some of the prevailing scepticism towards the EU. Although the EU is Peter Lehmann, CIO Swiss Prime Site «Second-class properties in peripheral locations are increasingly coming under pressure.»

4 4 inside l Number 23 in September 2010 Topping-out ceremony at the Maag site Amazing Prime Tower Prime Tower is the new star of Zurich s skyline. Invited guests, the media, technical experts and project participants all expressed their views at the recent topping-out ceremony amazed by the tallest building in Switzerland. Prime Tower, located on the Maag site in Zurich West, has taken centre stage in recent weeks, rising to its full height of 126 meters and dominating the skyline of Switzerland s largest city. The building held its topping-out ceremony at the beginning of July. The guests who attended the celebration on the 25 th floor of the total 36-storey-high tower were fascinated by the presence of the country s tallest building. On the one hand, the amazement was directed at the architecture of Gigon/Guyer, with the distinctive octagon-shaped layout, bold projections, ingenious green glass-encased façade and spacious floor space of roughly m 2 per level. On the other hand, attendees were thrilled by the view from the higher floors or the rooftop panorama. Even Zurich residents had never seen their city from this vantage point, offering a view on the Uetliberg, overlooking the Limmat and Glatt valleys and beyond to Lake Zurich and the Swiss Alps. At the official topping-out ceremony held in the Maag hall, attended by roughly 600 workmen and project participants, Swiss Prime Site CIO Peter Lehmann expressed his appre- Prime Tower and Platform: Key data Prime Tower Platform Storeys 36 7 Height 126 m 25 m Rental floor space m m 2 Rental floor space per floor m m 2 Number of parking places ciation to all for their exemplary commitment. «Amid the numerous visits to the construction site, I was so impressed by how the work on Prime Tower was carried out with such discipline, efficiency and precision,» praised Lehmann. Sustainability certification in process Prime Tower sets new standards from an ecological perspective as well. The building is slated for certification according to greenproperty a new sustainability rating in Switzerland as well as the international certification system LEED (Leadership in Energy and Environmental Design). «Hence, Prime Tower stands as a symbol for ecological responsibility and accommodates the future demands of a sustainability-oriented tenant base,» declares Swiss Prime Site CEO Markus Graf. Occupany rate of 75% Construction of Prime Tower, the annex buildings Cubus and Diagonal as well as the neighbouring Platform corporate building for which a topping-out ceremony was held too will be completed in May The first floor space will be ready for occupancy in summer The occupancy rate already amounts to 75% just roughly one year prior to the first tenant moving in. Companies that will be residing in Prime Tower include the business law firm Homburger Ltd, Citibank (Switzerland) Ltd, Zürcher Kantonalbank and Swiss & Global Asset Management Ltd. The Platform corporate building will serve as the Zurich base of auditing and consulting firm Ernst & Young Ltd. Balz Halter, Chairman of the Board of Directors, Halter Unternehmungen AG, Zurich Heinz Specker, CEO Technopark Real Estate Ltd, Zurich Thomas Sauber, Head of Ernst & Young s Zurich office, main tenant in the Platform corporate building City Council Member André Odermatt, Head of the Civil Engineering Department, Zurich City «I m really fascinated. Prime Tower «As the pioneer, together with «Architect Mike Guyer was «Prime Tower is a good ambassador emits a signal effect for Zurich Cinemax, that triggered the always at our service, participating for diligent development of high- West and the entire metropolitan transformation of the industrial in nearly all the construction rise structures in Zurich. The build- region.» district, we are now quite pleased meetings and dealing with all the ing was conceived through a com- regarding the second thrust with details as well a real godsend.» petitive process and designed and Prime Tower as the high point. The constructed by the outstanding building enriches Zurich West architects Gigon/Guyer. And it s and contributes to the district s situated in the right location.» heterogeneity.»

5 Numner 22 in September 2010 l inside 5

6 6 semi-annual report l Number 23 in September 2010 Excerpt from the semi-annual report consolidated income statement in CHF Rental income from investment properties Proceeds of property sales, net (1 126) Retail trade turnover Sales proceeds from investments Other operating income Operating income Real estate costs Cost of goods sold Direct operating expenses Personnel costs Other operating expenses Depreciation and amortisation Operating expenses Revaluation of investment properties, properties under construction and development sites, net Operating profit (EBIT) Financial expenses Financial income Income from associated companies 989 Profit before income taxes Income tax expense Profit Profit attributable to shareholders of Swiss Prime Site AG Profit attributable to noncontrolling interests 755 Earnings per share, CHF Diluted earnings per share, CHF CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME in CHF Profit Revaluation of owner-occupied properties Deferred taxes on revaluation of owner-occupied properties (741) Other comprehensive income Comprehensive income Comprehensive income attributable to shareholders of Swiss Prime Site AG Comprehensive income attributable to noncontrolling interests 755 Portfolio split by region Basis: fair value as at Southern Switzerland 1% Geneva 22% Berne 7% Northwestern Switzerland 20% Portfolio split by type of use Basis: net rental income as at Residential 1% Storage 7% Cinemas/ restaurants 6% Retail 40% Western Switzerland 1% Parking 6% Other 4% Zurich 38% Eastern Switzerland 6% Central Switzerland 5% Offices 36% Consolidated balance sheet in CHF Cash Securities Accounts receivable Other receivables Current income tax assets Inventories Accrued income and prepaid expenses Assets held for sale Total current assets Non-current financial investments Investments in associates Investment properties including building land Properties under construction and development sites Owner-occupied properties Tangible assets Goodwill Intangible assets Deferred tax assets Total non-current assets Total assets Accounts payable Current financial liabilities Other current liabilities Advance payments Current income tax liabilities Accrued expenses and deferred income Total current liabilities Non-current financial liabilities Other non-current financial liabilities Deferred tax liabilities Net pension provision obligation Total non-current liabilities Total liabilities Share capital Capital reserves Revaluation reserves Retained earnings Shareholders equity attributable to shareholders of Swiss Prime Site AG Noncontrolling interests Total shareholders equity Total liabilities and shareholders equity

7 Number 23 in September 2010 l semi-annual report 7 Market matrix: market assessment of individual properties As at , source: Wüest & Partner AG end of contract in number of years good PROPERTY QUALITY bad question mark III VI IX problem property bad 3.9% 3.2% 2.9% 4.4% 3.6% 6.8% 8.9% II V VIII LOCATION QUALITY Properties with office space > 66%; fair value > CHF 20 million Properties with retail space > 66%; fair value > CHF 20 million Properties with mixed use; fair value > CHF 20 million Largest tenants Portfolio by contractual end of rental relationship Basis: net rental income as at % 11.8% 16.8% quality defects 25.3% good 0% 5% 10% 15% 20% 25% 30% as a percentage of net rental income I IV VII top property As at the balance sheet date , the five largest external tenant groups accounted for 30.0% [45.5%] of future rental income. The individual tenants have good credit ratings. They were the following companies: share in % share in % Coop 9.7 UBS 15.4 UBS 6.2 Credit Suisse Group 10.6 Migros 5.3 Swisscom 9.3 Swisscom 4.5 Coop 6.7 Credit Suisse Group 4.3 Möbel Pfister 2.5 consolidated STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY Shareholders equity attributable to Capital shareholders Non- Total Share reserves Revaluation Retained of Swiss controlling shareholders in CHF capital (premium) reserves earnings Prime Site AG interests equity As at Profit Comprehensive income Acquisition of the participation in Jelmoli Holding Ltd from Pelham Investments Ltd Nominal value reduction (87 222) (81 413) (81 413) As at Profit Revaluation of owner-occupied properties Deferred taxes on revaluation (591) (591) (10) (601) Other comprehensive income Comprehensive income Payment of purchase price to Pelham Investments Ltd (84 224) Capital increase for exchange of shares for the exchange offer Capital increase costs (781) (781) (781) Share-based payments Purchase of treasury shares (6) (6) (6) Sale of treasury shares As at Profit Revaluation of owner-occupied properties Deferred taxes on revaluation (741) (741) (741) Conversion of owner-occupied property (471) 471 Other comprehensive income Comprehensive income Issue of 1.875% convertible bond, equity component Conversion of employee options Squeeze-out (32 205) Disposal of investments (2 387) (2 387) Nominal value reduction ( ) 160 ( ) ( ) Purchase of treasury shares (44 695) (44 695) (44 695) Sale of treasury shares As at Selected key figures Details in Change in % Rental income CHF m Retail trade turnover CHF m Earnings before interest, taxes, depreciation and amortisation (EBITDA) CHF m Earnings before interest and taxes (EBIT) CHF m Profit attributable to shareholders of Swiss Prime Site AG CHF m Comprehensive income attributable to shareholders of Swiss Prime Site AG CHF m Shareholders equity, attributable to shareholders of Swiss Prime Site AG CHF m Equity ratio % (2.6) Borrowed capital CHF m Borrowed capital ratio % ROE (weighted) % (31.3) ROIC (weighted) % (14.0) Figures without revaluation effects* Earnings before interest and taxes (EBIT) CHF m Profit attributable to shareholders of Swiss Prime Site AG CHF m Comprehensive income attributable to shareholders of Swiss Prime Site AG CHF m Earnings per share (weighted) CHF/share (24.2) ROE (weighted) % (25.0) * Revaluation (IAS 40) and deferred taxes property portfolio details Fair value in CHF m Rental income in CHF m Net yield in % Loss of earnings rate in % Zurich Central Switzerland Eastern Switzerland Northwestern Switzerland Berne Geneva Western Switzerland Southern Switzerland n/a Subtotal Properties under construction/ development sites n/a n/a Total n/a n/a

8 8 update l Number 23 in September 2010 Sihlcity A vision bears fruit The urban entertainment centre that opened its doors on the south side of Zurich in 2007 has developed into a unique, lively and amusing destination for shopping, leisure, culture and services. Today, Sihlcity is as much an integral part of the city on the Limmat as the Bahnhofstrasse, the Swiss National Museum, or the Opera House. «The long wait for customers,» read the headline of a report in the former Swiss newspaper «Cash», published 2½ months following the opening of Sihlcity on 22 March Other media also expressed doubts regarding whether the concept of an urban entertainment centre as it was put into practice on the south side of Zurich for the first time in Switzerland would actually function. The question was justified, but the concerns were unsubstantiated. Roughly three years after the opening, Sihlcity has established itself and is well on its way to becoming an investment gem. In fact, last year the centre already counted six million visitors and posted revenues of CHF 341 million. And the first half-year 2010 showed a persistently positive trend as well, with the number of visitors climbing by 15% versus the comparable previous year s period and revenues rising by 13%. Impressive variety The concept also proved to be a success story especially for Swiss Prime Site, which holds a 24.2% interest in Sihlcity and accounts for roughly CHF 143 million of the total investment of around CHF 600 million. The comany participated in the rental income accordingly, which amounted to around CHF 46 million owing to full tenancy levels. «I m not surprised at this development; it s right in the target zone,» declares Swiss Prime Site CEO Markus Graf, but adding that a residual risk looms with any investment. He was convinced already at the outset of construction in June 2003 that Sihlcity would offer attractive prospects for returns and promising potential for appreciation in value and both forecasts materialised. Even the economic resilience that was ascribed to Sihlcity based on its very diversified utilisation and multifarious tenants proved to be true. The financial and economic crisis that erupted in 2008 hardly left its mark on Sihlcity. The heterogenous use of space which even representatives of the real estate sector initially viewed with scepticism has turned out to be one of Sihlcity s great strengths. Sihlcity functions as a workplace, shopping destination, healthcare centre, fitness and wellness facility, restaurant, hotel and cinema or simply as a place to hang out and meet other people. Sihlcity attractions and offering 14 food & beverage outlets 80 retail shops 1 hotel with 132 rooms 1 cinema with 9 theatres 1 culture house 1 fitness and wellness centre 1 health centre 1 church 1 children s paradise 1 library 16 city apartments 1 home delivery service «ZüriWerk bringt s» 1 Mobility location with 4 cars Contacts Company Swiss Prime Site AG Froburgstrasse 1, CH-4601 Olten Tel. +41 (0) Fax +41 (0) Chairman of the Board of Directors Hans Peter Wehrli hans.peter.wehrli@swiss-prime-site.ch CEO Markus Graf markus.graf@swiss-prime-site.ch CFO Peter Wullschleger peter.wullschleger@swiss-prime-site.ch CIO Peter Lehmann peter.lehmann@swiss-prime-site.ch CEO Jelmoli The House of Brands Hanspeter Grüninger hanspeter.grüninger@swiss-prime-site.ch Press and media relations Nicole Stamm nicole.stamm@swiss-prime-site.ch Share details Share price CHF High CHF Low CHF Market capitalisation CHF m NAV before deferred taxes* CHF CHF Change (2.2%) NAV after deferred taxes* CHF CHF Change (3.0%) Earnings per share (weighted) CHF CHF 2.89 Change (30.8%) Share statistics Total registered shares Securities number ISIN number CH SIX-symbol SPSN First trading day Trend of the Swiss Prime Site share (reinvested) Share price CHF High CHF Low CHF SPS SXI Real Estate Sector Index SPI Agenda 17 March 2011 Annual report as at with financial statements press conference 20 April 2011 Annual General Meeting Financial Year 2010 of Swiss Prime Site AG * Potential noncontrolling interests included in the shareholders equity are not taken into account for NAV calculation purposes. The nominal value reduction of CHF 3.50 per share paid out on had already been deducted from the NAV as of Disclaimer: The financial data presented and the other reports in Swiss Prime News are selected information. You can request a copy of the annual or semi-annual report from the Company in writing or by telephone. This information constitutes neither an offer nor a recommendation to buy Swiss Prime Site AG shares. It shall not be disseminated in jurisdictions where it infringes applicable law or regulations. Statements about the future involve uncertainties and risks which may mean that the events that happen to the Company in fact differ from the forecast situation.