Swiss Properties Invest (SWISS) Investor update summary

Overview

• Established in Oct 2021 and listed on Nasdaq First North Growth Market Copenhagen in Jul 2022; strategy is to acquire, operate and grow a Swiss commercial property portfolio, reinvesting free cash flow.

• After four years: 10 properties acquired, book value above DKK 820m, acquisition volume above CHF 500m, NAV growth above 50% and equity above DKK 335m.

Portfolio and strategy

• Targets quality commercial properties, typically CHF 5–30m, with strong tenants, attractive initial yields and locations in well-connected cantons.

• Value creation priorities include improving occupancy, rents and operations, using underutilized space, investing in sustainable energy and reinvesting free cash flow.

• Portfolio locations shown include cantons Zurich, Lucerne, Thurgau, Basel-Land and Aargau; an additional acquisition is marked in Zurich in Jul 2026.

• Investment rationale cites Swiss political and currency stability, property-rights protection, constrained supply in attractive commercial areas and strong tenant demand.

Performance and targets

• NAV rose 51% from 31 Dec 2022 to 31 Dec 2025; NAV per share was DKK 147.50 at 31 Dec 2025.

• Long-term investment-return targets are 100% by 2032 and 300% by 2042, measured 10 and 20 years from the listing.

• Management’s historical project returns averaged above 50% for projects up to 5 years, above 180% for 5–10 years and above 400% for projects over 10 years; CHF/DKK fixed at 7.55 for comparison.

• FY2025 revenue was DKK 37.8m and EBITVA DKK 24.8m, both above the stated projections for 2034; property value reached DKK 777m vs projected DKK 561m for 2025.

• Equity rose to DKK 337m in 2025 from DKK 306m in 2024, above the DKK 270m projection for 2025.