Swiss Properties Invest (SWISS) H2 2025 earnings summary

Executive summary

• Fiscal year 2025 marked the third full year as a listed entity, with continued growth in property value and equity.

• Profit after tax was DKK 25.4 million, down from DKK 57.7 million in 2024, due to a prior year one-time property value appreciation.

• Gross profit increased by over 40% year-over-year, reflecting improved operational profitability.

• The share price at year-end was DKK 99.50, resulting in a Price to Book ratio of 0.67, indicating market undervaluation.

• Management considers the net profit satisfactory and sees ongoing opportunities in the Swiss commercial property market.

Financial highlights

• Revenue rose to DKK 37.9 million from DKK 35.2 million year-over-year.

• Gross profit reached DKK 27.0 million, up from DKK 19.2 million in 2024.

• Operating profit was DKK 36.2 million, compared to DKK 78.0 million in 2024, reflecting lower fair value adjustments.

• Total assets increased to DKK 791.2 million, with equity at DKK 337.1 million.

• Net cash flow for the year was DKK 8.0 million, reversing a negative flow in 2024.

Outlook and guidance

• Additional capital was secured in March 2026, with plans for further capital increases to expand the property portfolio.

• Management remains optimistic about acquiring more commercial properties in Switzerland at attractive yields.