EPIC Suisse AG reports increase in rental income and profitability for FY 2025

Media release - Ad hoc announcement pursuant to Art. 53 LR

Zurich, 12 March 2026

EPIC Suisse AG reports increase in rental income and profitability for FY 2025

• Rental income reached a new record; increase of 3.0% to CHF 68.2 million in 2025 (CHF 66.2 million in 2024)
• Vacancy rate for properties in operation during the year further reduced to 3.4% for 2025 (4.2% for 2024)
• Long WAULT maintained with 7.9 years as at 31 December 2025 (8.2 years as at 31 December 2024)
• Unrealised revaluation gain of CHF 33.0 million in 2025 (CHF 23.4 million in 2024)
• EBITDA including revaluation of properties amounted to CHF 87.8 million in 2025 (CHF 76.5 million in 2024) and, excluding revaluation of properties, to CHF 54.8 million (CHF 53.1 million in 2024)
• Value of the real estate portfolio up by 4.4% to CHF 1’684.0 million as at 31 December 2025, primarily due to the capital investments in the completed development projects, PULSE and Campus Leman -Building C, and the unrealised revaluation gain (CHF 1’613.4 million as at 31 December 2024)
• Successful capital increase executed in December 2025, raising CHF 70.0 million in gross proceeds
• Strong equity ratio of 53.5%
• Dividend of CHF 3.20 per registered share to be proposed to the AGM 2026 (CHF 3.15 in 2025)

EPIC Suisse AG (SIX: EPIC) (the “Company” or “EPIC Suisse”) reported today strong annual results and operating performance for the fiscal year 2025. Based on the results, the Board of Directors will propose a further increase in the dividend by CHF 0.05 to a gross dividend of CHF 3.20 per registered share to the Annual General Meeting (AGM) on 10 April 2026. 

Rental income increased by 3.0%, vacancies further reduced to 3.4%

Rental income from real estate properties reached a new record of CHF 68.2 million, representing an increase of 3.0% compared to the previous year (CHF 66.2 million in 2024). The main contributors to the higher rental income were the developments, PULSE and Campus Leman - Building C, generating CHF 1.5 million of income out of the CHF 2.0 million uplift, although they were only completed by the end of H1 2025. On a like-for-like basis, the Company achieved a 0.7% growth, which is mainly explained by the reduction in vacancy in the office sector and the increase in target rent (primarily due to indexation) partially netted-off by additional rent-free incentives. The reported vacancy rate for the properties in operation during the year decreased further to as low as 3.4% in 2025 (4.2% in 2024).

The net rental income yield of properties in operation during the year remained at an attractive level of 4.4% in 2025 (4.5% in 2024), the marginal drop of 0.1% being explained by their net unrealised revaluation gain.  

Real estate portfolio value up by 4.4% to CHF 1’684.0 million

The value of the real estate portfolio grew by 4.4% to CHF 1’684.0 million as at 31 December 2025 (CHF 1’613.4 million as at 31 December 2024). The increase was mainly driven by CHF 37.2 million of investments made into the portfolio (in particular into the recently completed developments) and by a notable net value appreciation of CHF 33.0 million following the year-end assessment by the independent appraiser Wüest Partner AG. The real discount rates applied as at 31 December 2025 resulted in a weighted average of 3.32% (3.38% as at 31 December 2024).

The WAULT as at 31 December 2025 remained long at 7.9 years (8.2 years as at 31 December 2024), despite the passing of time effect of one year.

Increased profitability

EBITDA (including revaluation of properties) reached CHF 87.8 million for 2025 (CHF 76.5 million in 2024), and CHF 54.8 million when excluding the revaluation of properties (CHF 53.1 million for 2024). The improvement of 3.2% on the latter mainly resulted from an augmentation in net operating income of CHF 1.2 million as well as a diminution in other operating expenses of CHF 0.5 million.  

Profit (including revaluation effects) reached CHF 65.6 million for the year 2025 compared to CHF 47.3 million for 2024. Profit (excluding revaluation of properties and derivatives and related deferred taxes as well as any related foreign exchange effects) amounted to CHF 42.5 million (CHF 40.6 million in 2024), reflecting a pleasing 4.8% increase.

Sound capital base

The Company successfully completed an accelerated bookbuilding share placement in December 2025, raising gross proceeds of CHF 70.0 million by issuing 875’000 new registered shares. Consequently, and in combination with the substantial net profit of CHF 65.6 million for 2025, the equity as at 31 December 2025 increased by CHF 100.5 million to CHF 920.5 million, notwithstanding the dividend distribution of CHF 32.5 million paid during the fiscal year 2025 (equity of CHF 820.0 million as at 31 December 2024). A gross dividend of CHF 3.15 per share was distributed to the shareholders in April 2025 (CHF 3.10 in 2024). As at 31 December 2025, the group benefits from a solid equity ratio of 53.5% and achieved a net asset value per share of CHF 82.15 (respectively 49.9% and CHF 79.38 as at 31 December 2024).

The weighted average interest rate on mortgage-secured bank loans decreased to 1.1% as at 31 December 2025, while their weighted average residual maturity remained unchanged at 3.7 years (1.3% and 3.7 years as at 31 December 2024, respectively).

Prepared for future rental income growth and value creation

Following the successful completion of PULSE in Cheseaux-sur-Lausanne and Campus Leman - Building C in Morges in H1 2025 – both on time and within the expected budgets – EPIC Suisse expects additional growth and value creation from these two properties in 2026 and beyond as the occupancy rate increases. As at 31 December 2025, the Company has already secured 37% of the previously communicated annual target rental income of CHF 7.5 million for PULSE and ongoing discussions with potential tenants make it optimistic for continued lease-up of this unique modular innovation centre. Building C of Campus Leman has seen strong tenant uptake already at the pre-letting phase and five out of six floors are fully let with ongoing negotiations for the last floor. The building is expected to reach an annual target rent of CHF 1.2 million, once entirely occupied.

Having successfully raised capital in December 2025 for potential acquisitions and the ongoing and planned real estate developments, the Company is scanning the market intensively for selective investment opportunities that align with the long-term vision of EPIC Suisse.     

Increased dividend of CHF 3.20 proposed to the Annual General Meeting 2026

Based on the solid 2025 financial results, the Board of Directors will propose to the Annual General Meeting, to be held on 10 April 2026, an increase in the dividend per share of CHF 0.05 or a gross dividend per share of CHF 3.20, corresponding to a total distribution of CHF 35.9 million. The proposed dividend reflects an attractive yield of 3.7% based on the year-end 2025 closing share price.

Sustainability

EPIC Suisse remains committed to sustainability and continues to work towards its mid-term target 2035 for CO₂ emission intensity and its long-term goal of net-zero emissions by 2050. The integration of geothermal energy and photovoltaic systems in our new properties, PULSE and Campus Leman - Building C, exemplifies the Company’s commitment to energy-efficient real estate. For more information on the ESG strategy and activities please refer to the dedicated Sustainability and TCFD Reports in the Annual Report 2025.

Outlook

Looking ahead, the Company expects a further uplift in rental income in 2026 following the full-year contribution of the completed developments (PULSE and Campus Leman - Building C). Ongoing geopolitical tensions, trade disputes, and unpredictable policy shifts across major economies continue to fuel market volatility and global uncertainty. Assuming no materially adverse impact on our operations in 2026, the Company’s guidance for the net rental income growth is 2% to 3% for the full year 2026 compared to 2025.

     ______________________

For selected key figures, please refer to the appendix of this press release as well as to the Annual Report 2025 for further information and a glossary of alternative performance measures (on page 168 of the report).

Contact information

Valérie Scholtes, CFO, EPIC Suisse AG, Phone: +41 44 388 81 00, E-mail: investors@epic.ch

Reporting

The Annual Report 2025 is available on the Company’s website under Media & Investors –
Financial Reports: https://ir.epic.ch/en/financial-reports

About EPIC Suisse AG

EPIC Suisse AG is a Swiss real estate company with a high-quality property portfolio of CHF 1.7 billion in market value. It has a sizeable development pipeline and a strong track record in sourcing, acquiring, (re)developing and actively managing commercial properties in Switzerland. EPIC’s investment properties are mainly located in Switzerland's major economic hubs, specifically the Lake Geneva Region and the Zurich Economic Area. Listed on SIX Swiss Exchange since May 2022 (SIX ticker symbol EPIC; Swiss Security Number (Valorennummer) 51613168; ISIN number CH0516131684). More information: www.epic.ch

1. Rental income from real estate properties plus other income less direct expenses related to properties
2. Profit after tax before other comprehensive income excluding revaluation of properties and derivatives and related deferred taxes as well as any related foreign exchange effects
3. Profit after tax before other comprehensive income divided by the average IFRS NAV. The average IFRS NAV corresponds to ½ of the sum of the IFRS NAV at the beginning and at the end of the reporting period
4. Profit after tax before other comprehensive income excluding revaluation of properties and derivatives and related deferred taxes as well as any related foreign exchange effects divided by the average IFRS NAV. The average IFRS NAV corresponds to ½ of the sum of the IFRS NAV at the beginning and at the end of the reporting period
5. Ratio of net debt to the market value of total real estate properties including the right-of-use of the land
6. For segment and key performance indicator reporting purposes, the properties are considered as per the category they were classified in as at 1 January 2025. The transfer between segments / investment properties categories is only effective on the last day of the financial year. Campus Leman - Building C and PULSE were classified in investment properties under development/construction during the financial year 2025

Disclaimer

This publication may contain specific forward-looking statements, e.g. statements including terms like "believe", "assume", "expect", "forecast", "project", "may", "could", "might", "will" or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of EPIC Suisse AG and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties, readers should not rely on forward-looking statements. EPIC Suisse AG assumes no responsibility to update forward-looking statements or to adapt them to future events or developments.

Alternative performance measures

This media release may contain references to operational indicators, such as reported vacancy rate, adjusted vacancy rate, WAULT, and alternative performance measures (APM) that are not defined or specified by IFRS Accounting Standards, including EBITDA (incl. revaluation of properties), EBITDA (excl. revaluation of properties), net operating income, return on equity (incl. revaluation effects), return on equity (excl. revaluation effects), profit (excl. revaluation effects), net loan to value (LTV) ratio. These APM should be regarded as complementary information to and not as substitutes of the Group’s consolidated financial results based on IFRS Accounting Standards. These APM may not be comparable to similarly titled measures disclosed by other companies. For the definitions of the main operational indicators and APM used, including related abbreviations, refer to the section “Alternative Performance Measures” on page 168 of the Company's Annual Report 2025.