Cham Swiss Properties (CHAM) H1 2026 earnings summary

Executive summary

• Construction and development projects progressed on schedule, with major advances at Papieri, Bredella, Geneva, Zurich, and Winterthur sites.

• Rental income rose 5% year-over-year to CHF 13.7 million, driven by strong leasing and full consolidation of the portfolio.

• Portfolio value increased to CHF 1,761.3 million as of June 30, 2026, supported by active management, acquisitions, and divestitures.

• Net profit for H1 2026 was CHF 8.4 million, with earnings per share of CHF 0.20.

• Acquisition of remaining minority stake in Bredella Beteiligungen AG and successful CHF 100 million bond issuance enhanced group structure and financing.

Financial highlights

• Rental income for H1 2026 was CHF 13.7 million (up 5% year-over-year); operating profit before revaluation CHF 5.5 million; after revaluation CHF 11.9 million.

• Consolidated profit for H1 2026 was CHF 8.4 million; EPS CHF 0.20.

• Portfolio value reached CHF 1,761.3 million, up 2% year-over-year.

• Equity at CHF 1,038.5 million; equity ratio 56.4%; NAV per share CHF 21.23.

• Loan-to-value at 35.6%; vacancy rate at 5%.

Outlook and guidance

• Management expects continued rental income growth and operational progress on major development projects.

• High demand persists for residential, commercial, and office spaces; intensified marketing and leasing activities planned for H2.