Cham Swiss Properties (CHAM) H2 2025 earnings summary

Executive summary

• Completed integration and operational merger, establishing a new player in Swiss real estate with a full team.

• Achieved investment grade and issued first bond in H1 2025.

• Consolidated profit reached CHF 143.9 million for 2025, driven by property transfers and revaluation gains.

• Real estate portfolio value increased 10% to CHF 1,725 million, including CHF 132 million net income from revaluation.

• Sustainability strategy implemented, with portfolio well below national benchmarks for energy and greenhouse gas intensity; published GRI-aligned report.

Financial highlights

• Rental income for 2025 was CHF 22.4 million; income from property sales CHF 114.9 million.

• Operating profit excluding revaluation reached CHF 43.3 million, driven by strong sales.

• Revaluation gains totaled CHF 132 million from merger and operational progress.

• Earnings per share stood at CHF 3.35.

• Property portfolio valued at CHF 1,725 million at year-end 2025.

Outlook and guidance

• Robust demand expected to continue across all locations, with operational priorities on development, portfolio management, and construction.

• CHF 130 million investment planned for 2026 in five properties under construction.

• CHF 1.6 billion investment volume planned through 2032 for 25 development projects.

• Portfolio value expected to reach CHF 3 billion and rental income over CHF 100 million by 2032.

• Further bond issuance planned to ensure stable financing.