According to a statement released on Wednesday, net rental income increased by 1,1 percent to 42,3 million francs, despite the sale of three properties during the year. Residential properties accounted for a high 94 percent of rental income. At the end of the year, the portfolio comprised 63 standing properties as well as two development projects. The vacancy rate stood at 1,5 percent, slightly above the previous year’s level of 1,3 percent, but still «at a low level».

The gain from revaluations at Fundamenta Real Estate amounted to 27,0 million francs, significantly above the 10,9 million francs recorded in the previous year and representing a «record high». Net profit increased accordingly by 51,2 percent to 46,1 million francs. Net profit excluding revaluation effects remained almost unchanged at 21,8 million francs compared with the previous year. The board of directors proposes an unchanged dividend of 60 centimes per share.

Successful Capital Increase

The value of the real estate portfolio rose by 2,5 percent to 1,25 billion francs. Last year, two major development projects were successfully completed: the replacement building at Feldblumenweg in Zurich and the inner-city densification project at Claragraben in Basel. Both projects are expected to contribute to earnings over a full financial year starting in 2026.

In November 2025, Fundamenta Real Estate carried out a capital increase. A total gross amount of 70 million francs was raised, significantly more than originally targeted. As a result, the equity ratio increased from 41,6 percent to 48,0 percent, while the loan-to-value ratio (LTV) fell from 53,9 percent to 46,7 percent. The weighted average interest rate on financial liabilities was further reduced to 1,08 percent, with a «stable» average remaining maturity of 6,4 years.