Edmond de Rothschild Real Estate SICAV - Swiss Class A · SIX:ERRES
Edmond de Rothschild Real Estate SICAV - Swiss Class A — Edmond de Rothschild Real Estate SICAV - Swiss — H1 2025/26 Earnings Presentation
37 slides from Edmond de Rothschild Real Estate SICAV - Swiss Class A's earnings presentation, November 2025
Slide 1: Half-Year Results 2025/26
EDMOND DE ROTHSCHILD REAL ESTATE SICAV - SWISS HALF-YEAR RESULTS 2025/26 NOVEMBER 2025 www.edr-realestatesicav.ch
Slide 2: Content
CONTENT 01. OVERVIEW 02. MARKET 03. FINANCIAL RESULTS 04. PORTFOLIO ACTIVITIES 05. OUTLOOK 2025/26 2
Slide 3: Key Events Half-Year 2025/26
OVERVIEW KEY EVENTS HALF-YEAR 2025/26 Solid start to the year Dividend Rental growth Construction CHF 1.70 realized + CHF +1.54% like-for-like rental Delivery of Biopôle F1 0.20 secured after 6 income growth over the (VD), Edouard-Rod (GE) months in line with min. past year* and Louis-Valencien CHF
Slide 4: Key Financial Figures
OVERVIEW KEY FINANCIAL FIGURES Strong set of HY numbers 159 buildings CHF 133 mios rental income 4’259 apartments September 2024 March 2025 September 2025 Net assets 1’923 MCHF 1’980 MCHF 2’341 MCHF Property values 2’875 MCHF 2’976 MCHF 3’293 MCHF NAV/Share 119.89 123.46 121.64 Premium 28.45% 35.91%
Slide 5: Historical Perspective
OVERVIEW HISTORICAL PERSPECTIVE Commitment to pay out minimum CHF 3.80/share Evolution of distribution per share and capital increase 4,00 500 3,80 3,80 3,80 3,50 3,60 3,60 3,50 3,50 399 3,40 3,30 400 3,20 3,21 3,00 3,00 299 2,50 280 300 272 2,00 0,20 179 200 1,70 1,50 1,00 109 81 100 0,50 0,00 0 20
Slide 6: Evolution of NAV
OVERVIEW EVOLUTION OF NAV NAV adjusted to current market conditions 128,00 › Dividend of CHF 3.80 paid in July 2025 126,00 › Net result from cash-flow above the budget 124,00 123,46 › Realized result at 0 but one sale already signed that will generate CHF 0.20 by the end of the year 122,00 0,28 121,
Slide 7: Stock Market Performance
OVERVIEW STOCK MARKET PERFORMANCE Very strong relative and absolute performance One-year total return performance to 30 September 2025 To 30th September ERRES SWIIT 2025 120 YTD + 9.03% + 5.27% 115 +15.40% 1 year + 15.40% + 12.27 % +12.27% 110 3 years + 41.00% + 32.50% 105 5 years + 49.01% + 28.21%
Slide 8: Portfolio Allocation
OVERVIEW PORTFOLIO ALLOCATION Diversified portfolio with a focus on residential assets in Geneva Basel AargauOthers Bern 1,6% 1,7% Non food Food Storage & 2,2% 2,0% retail retail logistics Neuchâtel Others 3% 3% 2% 4,0% 5% Fribourg Industrial & 5,8% Artisanal 3% Zürich 6,3% Health 11% BY CANTON BY U
Slide 9: Content
CONTENT 01. OVERVIEW 02. MARKET 03. FINANCIAL RESULTS 04. PORTFOLIO ACTIVITIES 05. OUTLOOK 2025/26 9
Slide 10: Capital Market
MARKET CAPITAL MARKET Real estate offers >200 bps spread over Govern’t bond yields Spread between real estate and bond yields Source: UBS, 31.10.2025 Source: UBS, 31.10.2025 EDMOND DE ROTHSCHILD 10
Slide 11: Transaction Market
MARKET TRANSACTION MARKET Net initial yields are compressing, especially on the residential sector Residential buildings All buildings Source: WuestPartner, October 2025 EDMOND DE ROTHSCHILD 11
Slide 12: Leasing Market
MARKET LEASING MARKET Significant tension on the Geneva residential market Geneva remains attractive Undersupplied market ✓ The population increased by 1.1% in ✓ Only 2’550 new flats delivered in 2024 2024 to 530K inhabitants (-28% versus previous year) ✓ Driven by net migration (~70%) ✓ 7’900 flats
Slide 13: Content
CONTENT 01. OVERVIEW 02. MARKET 03. FINANCIAL RESULTS 04. PORTFOLIO ACTIVITIES 05. OUTLOOK 2025/26 13
Slide 14: Theoretical Rental Income Evolution
F I N A N C I A L R E S U LT S THEORITICAL RENTAL INCOME EVOLUTION Evolution since the beginning of the annual period Theoritical rental income bridge Forecast › +0.8% like-for-like theoritical CHF 145m rental income growth on exisiting 2,7 140 buildings (excl. delivered CHF 140m 8,2 developments) d
Slide 15: Rental Loss Evolution
F I N A N C I A L R E S U LT S RENTAL LOSS EVOLUTION Consistently low levels 6,0% › Consistently low levels of vacancy rate and rent default rate 5,0% › Driven by housing shortage but 4,81% also reflecting the properties quality (location/condition) 4,0% › Increase linked to buildings recently acqui
Slide 16: Zoom on Vacancies
F I N A N C I A L R E S U LT S ZOOM ON VACANCIES Concentrated vacancy in 4 properties with active strategic leasing Existing buildings Acquisition CHF 1 000K › Only 4 commercial assets represent 68% of the fund’s total vacancy CHF 900K 12,76% ▪ Casa-Bamba 1-3 : 33% CHF 800K New acquisition. Recently
Slide 17: Expenses
F I N A N C I A L R E S U LT S EXPENSES Attractive and well-managed cost base Real estate expenses Interest expenses ✓ Decreased at 13.5% of total revenue ✓ Stabilizing financing conditions with an increasing average duration of ✓ ~15% planned at full year to maintain 4.06 years portfolio quality ✓
Slide 18: Detail of Unrealized Capital Gain
F I N A N C I A L R E S U LT S DETAIL OF UNREALIZED CAPITAL GAIN Positive impact from acquisitions Unrealized capital # Properties Valuation (MCHF) Gross Yield* (%) gain 2025/26 (MCHF) Existing Residential 100 1’777.9 3.76% -3.1 4 revaluated Existing Mixed-used 19 341.8 3.82% -0.2 3 revaluated Exist
Slide 19: Financing
F I N A N C I A L R E S U LT S FINANCING Securing attractive long-term conditions March March March March Sept. › Tightening credit conditions 2022 2023 2024 2025 2025 coupled with restricted credit access Debts outstanding 802.9 770.6 876.7 929.1 899.9 › Proactive debt management to (MCHF) secure a
Slide 20: Financing
F I N A N C I A L R E S U LT S FINANCING CHF 63 millions already renewed with long-term maturities. KPIs post-refinancings: Well-balanced maturity profile - Cost of debt: 1.30% - Duration: 4.59 years 140 000 000 2,50% 2,32% 120 000 000 2,00% 100 000 000 1,76% 1,52% 1,50% 80 000 000 1,42% 1,26% 1,26%
Slide 21: Content
CONTENT 01. OVERVIEW 02. MARKET 03. FINANCIAL RESULTS 04. PORTFOLIO ACTIVITIES 05. OUTLOOK 2025/26 21
Slide 22: ESG
PORTFOLIO ACTIVITIES ESG 5-star GRESB result as a testimony to our commitment EDMOND DE ROTHSCHILD 22
Slide 23: Densification
PORTFOLIO ACTIVITIES DENSIFICATION Approx. 12’500 m2 of additional areas for next years Adresses New areas (m2) Development ROI Total ROI François-Besson 5-7-9 – Meyrin 1’077 5.18% 4.80% Baillive 5 – Geneva 146 5.70% 4.25% XXXI Décembre 43 – Geneva 86 4.56% 4.45% Lyon 55 – Geneva 364 5.43% 4.14% Gen
Slide 24: Development Projects
PORTFOLIO ACTIVITIES DEVELOPMENT PROJECTS 3 ongoing projects in Geneva for 13 MCHF total investment 31 Décembre 43 Lyon 55 Genève 92 › Conversion of an office › Expansion of the 7th › 7 additional floors into 2 apartments floor and 1 additional (38 new apartments) + storey underground parking › HPE
Slide 25: Project Under Construction
PORTFOLIO ACTIVITIES PROJECT UNDER CONSTRUCTION 3 completed projects and 1 ongoing Bülach Rental income Capital Investments Investments Total (MCHF) currently 2025/26 2026/27 Gross yield on Project investment Delivery invested (MCHF) (MCHF) investment cost costs (MCHF) Biopole F1* Delivered in 7.19
Slide 26: Construction Projects: Biopôle F1, Lausanne
CONSTRUCTION PROJECTS OVERVIEW Biopôle F1, Lausanne (VD) Three new life-science buildings in the Biopôle Campus LAUSANNE (VD) › Three new buildings under construction as the last phase of the Biopole Life Sciences cluster located in Lausanne › 19’800 m2 of laboratory and office space › ERRES already
Slide 27: Construction Projects: Edouard-Rod, Geneva
CONSTRUCTION PROJECTS OVERVIEW Edouard-Rod 12-14-16, Geneva (GE) New residential construction in Geneva GENEVA (GE) › New district planning in Geneva city-center with the rehabilitation of an old industrial site › 37 3-5-room apartments with rental control by the state of Geneva › CHF 390/m2/year @
Slide 28: Successful Capital Increase
PORTFOLIO ACTIVITIES SUCESSFUL CAPITAL INCREASE Very strong support from investors • Only 20% of the rights not subscribed by existing investors • Outperformance of the stock during and after the subscription period • CHF 8.14 valuation of the right for investors who have not subscribed • High liqui
Slide 29: Acquisition Pipeline
PORTFOLIO ACTIVITIES ACQUISITION PIPELINE Transferred/signed deals delivering accretive yields KEY METRICS Augsburg, Germany Acquisition price 418.1 MCHF Valuation 462.5 MCHF Difference +10.6% Allocation Resi : 54% (%rental income) Com : 46% Emile de Morsier 2, 8, 12 et 14 - Rue du Pradier 8 - Genèv
Slide 30: Casa Bamba 1-3 Vernier (GE)
TRANSACTION CLOSED OVERVIEW CASA BAMBA 1-3 › Prime office building let to Edmond de Rothschild & Raiffeisen (79% of total VERNIER (GE) rental income) with an 18,5Y WAULT › 11% vacancy (6th floor) to be let › Rental steps after 5 and 10Y for the main tenant STATUS PROJECT SIZE Transferred in Septembe
Slide 31: Sales 2025/26
PORTFOLIO ACTIVITIES SALES 2025/26 Secured disposal of valorised assets to generate capital gains Lattes 57/59 – Meyrin (GE) Historical Cost : CHF 10’180’000 Selling price : CHF 15’000’000 Gross/Net yield buyer : 3.77%/2.90% Last valuation : CHF 13’760’000 Gross capital gain on historical costs: CHF
Slide 32: Content
CONTENT 01. OVERVIEW 02. MARKET 03. FINANCIAL RESULTS 04. PORTFOLIO ACTIVITIES 05. OUTLOOK 2025/26 32
Slide 33: Focus and Outlook
OUTLOOK 2025/26 FOCUS AND OUTLOOK Strong portfolio to capitalize on market shift towards increasing prices › Well positioned portfolio in terms of location, vacancy risk and environmental profile › Targeted distribution of min. CHF 3.80/share generated by net rental income, regular sales and contrib
Slide 34: Key Takeaways
OUTLOOK 2025/26 KEY TAKEAWAYS Well-located Increase speed of portfolio in the main Active deployment ESG actions to reach Swiss cities and their of the capital raised our ambitious surroundings objectives Strong pipeline of Fixing longer Dividend @ min. CHF development duration on debt 3.80 planned
Slide 35: Contacts
CONTACTS Pierre Arnaud Jonathan JACQUOT ANDRIEU MARTIN Co-CEO Co-CEO Managing Director Rue du Rhône 30 Rue du Rhône 30 Rue du Rhône 30 1204 Geneva 1204 Geneva 1204 Geneva Switzerland Switzerland Switzerland T: +41 79 406 33 08 T: +41 79 250 78 19 T: +41 79 611 94 13 p.jacquot@reim-edr.ch a.andrieu@r
Slide 36: Disclaimer
DISCLAIMER Important legal information This marketing material has been issued by Edmond de Rothschild REIM (Suisse), S.A., (hereinafter “EdR REIM”) located at 30 rue du Rhône, 1204 Geneva, Switzerland, a subsidiary of Edmond de Rothschild (Suisse) S.A. and manager of collective assets authorised an
Slide 37: www.edmond-de-rothschild.com EDMOND DE ROTHSCHILD
www.edmond-de-rothschild.com EDMOND DE ROTHSCHILD
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