Warteck Invest (WARN) H2 2025 earnings summary

Executive summary

• Achieved record net profit of CHF 44.7 million for FY2025, driven by CHF 21.5 million in property revaluations and strong rental performance.

• Sold two properties above market value, further optimizing the portfolio and supporting a dividend increase proposal to CHF 72 per share.

• Maintained a low vacancy rate of 2.3% and increased the market value of the real estate portfolio to CHF 1,063 million.

• Continued focus on sustainability, with 45% of properties now using non-fossil heating and ongoing investments in energy efficiency.

Financial highlights

• Net profit rose 93.5% year-over-year, with EBIT up nearly 60% to CHF 57.4 million.

• Excluding revaluation gains, net profit was CHF 26.4 million, up 20% from the previous year.

• Rental income increased by 1.2% to CHF 38 million, supported by higher contractual rents and reduced vacancies.

• Financial expenses decreased by CHF 1.4 million (16.5%), benefiting from lower average interest rates (1.55%).

• NAV per share reached CHF 1,748, surpassing pre-capital increase levels.

Outlook and guidance

• Positive medium-term outlook, with robust demand for residential and commercial space in Switzerland.

• Strategic focus on dynamic economic regions (Basel, Zurich, Zug, Lucerne) and further portfolio optimization through selective sales.

• Pipeline of 16 projects (CHF 230 million), expected to generate CHF 7.5–8 million in additional annual rental income upon completion.

• Continued emphasis on sustainability and ESG integration in all business processes.