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 – Commercial Income — FY2024/25 Earnings Presentation
32 slides from Edmond de Rothschild Real Estate SICAV - Swiss Class A's earnings presentation, June 2025
Slide 1: Annual Results 2024/25 (9 Months)
EDMOND DE ROTHSCHILD REAL ESTATE SICAV – COMMERCIAL INCOME ANNUAL RESULTS 2024/25 (9 MONTHS) JUNE 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 2024/25
OVERVIEW KEY EVENTS 2024/25 First set of results after less than 9 months Capital market Transactions Dividend Launch in July 2024 with Acquisitions of 5 CHF 1.87 realized 54.4 million and 1st buildings for a market after 9 months and capital increase in March value of CHF 131.7 first capital 2024 f
Slide 4: Key Financial Figures
OVERVIEW KEY FINANCIAL FIGURES Good first set of financial numbers March 2025 (9 month) Net assets 112.3 MCHF Property values 131.7 MCHF NAV/Share 104.28 5 buildings Premium 0.69% Debt ratio 14.41% CHF 6.71 mios rental income EBIT-margin 88.05% Rental loss rate 1.43% 54 tenants TER (GAV) – annualise
Slide 5: Evolution of NAV
OVERVIEW EVOLUTION OF NAV Buying the right assets at the right time to create value 106,00 › Net result slightly below 105,00 expectations because of 2,41 104,28 104,00 administrative latency on one transfer of ownership. 103,00 Above expectations for gross/net 102,00 1,87 yield bought and better fi
Slide 6: Allocations & Diversification
OVERVIEW ALLOCATIONS & DIVERSIFICATION Through the first six acquisitions Building diversification (% DCF) Sector allocation (% RI) Morges 22-24 *OpRE 17,36 % 0% Buckhauserstrasse Fontenailles 23 24-26 9,61 % 72,30 % Modern office Industrial & Meyrin 214 52,6% Light logistics 26,85 % 47,3% Cour 61 2
Slide 7: Content
CONTENT 01. OVERVIEW 02. MARKET 03. FINANCIAL RESULTS 04. PORTFOLIO ACTIVITIES 05. OUTLOOK 2025/26 7
Slide 8: Market Update
MARKET MARKET UPDATE Very high agios on the listed market driven by low interest rates Spread between real estate and bond yields Close link between agios and long-term interest rates Source: UBS, 31.05.2025 Source: UBS, 31.05.2025 EDMOND DE ROTHSCHILD 8
Slide 9: Market Update: From headwinds to tailwinds
MARKET MARKET UPDATE From headwinds to tailwinds HEADWINDS IMPACTS 2022-24 OPPORTUNITIES 2024-26 › Pressure on share price › Increase in agios INTEREST RATES HIKES › Increased financing costs › Increase in acquisition yields › Downward pressure on valuations › Refinancings at lower costs › Potential
Slide 10: Content
CONTENT 01. OVERVIEW 02. MARKET 03. FINANCIAL RESULTS 04. PORTFOLIO ACTIVITIES 05. OUTLOOK 2025/26 10
Slide 11: Summary of Realised P&L
F I N A N C I A L R E S U LT S SUMMARY OF REALISED P&L Good set of results after first capital deployment 2024/25 In MCHF › Net result slightly below (9 months) expectations because of Rental income 1.49 administrative latency on one Total Revenue 2.77 transfer of ownership. Interest expenses 0.07 ›
Slide 12: Valuations
F I N A N C I A L R E S U LT S VALUATIONS Significant unrealised gain in line with our expectations DCF Gross Yield Value at cost Deferred tax Unrealised Properties (MCHF) on DCF (MCHF) (MCHF) (MCHF) Rue de Morges 22-24 17.36 6.22% 15.36 1.00 +1.00 Chemin de Fontenailles 23 9.61 6.00% 9.52 -0.01 +0.
Slide 13: Financials
F I N A N C I A L R E S U LT S FINANCIALS Based on first six acquisitions LTV at 30,9% with CHF 25 millions dry power to be invested Average cost of debt of 1.14% with a duration of 0.75 years Dividend paying capacity (for a full year) > CHF 4.50, given : • TER(GAV) at 0.70% • Average LTV at 40% • C
Slide 14: Content
CONTENT 01. OVERVIEW 02. MARKET 03. FINANCIAL RESULTS 04. PORTFOLIO ACTIVITIES 05. OUTLOOK 2025/26 14
Slide 15: Acquisitions
PORTFOLIO ACQUISITIONS First six acquisitions (Meyrin transferred after 31.03.2025) Buildings Sector Strategy Volume (MCHF) Initial gross/net yields Future CAPEX Morges 22-24 Office Core 15.0 7.0% / 6.0% Limited Crissier (VD) Fontenailles 23 Industrial & Light Core+ 9.0 6.3% / 5.7% Medium Gland (VD)
Slide 16: Morges 22/24 Crissier (VD)
TRANSACTION CLOSED OVERVIEW MORGES 22/24 › Very good location in the Crissier/Écublens commercial area close to the CRISSER (VD) highway › Two fully-let multi-tenant office, retail & industrial buildings with an average WAULT (4.6 years) STATUS PROJECT SIZE Signed and transferred in Share deal MCHF
Slide 17: Fontenailles 23 Gland (VD)
TRANSACTION CLOSED OVERVIEW FONTENAILLES 23 › Fully-let single-tenant (fitness) commercial building with a 13Y WAULT. GLAND (VD) › Located in the industrial zone of Gland STATUS PROJECT SIZE Signed and transferred in Asset deal MCHF 9.0 September 2024 RISK/RETURN PROFILE SUSTAINABILITY INITIAL YIELD
Slide 18: Cour 61 Lausanne (VD)
TRANSACTION CLOSED OVERVIEW COUR 61 › Fully-let office building located in Lausanne city-centre LAUSANNE (VD) › Sale & Lease-back transaction with a 2.3 years WALB › Renovation project to be planned at tenant departure › 24% rental reserve to be deployed through the project STATUS PROJECT SIZE Signe
Slide 19: Vollandes 30 Geneva (GE)
TRANSACTION CLOSED OVERVIEW VOLLANDES 30 › Very well located in the city-centre of Geneva (Eaux-Vives neighborhood) GENEVA (GE) › Fully let, multi-tenant (main tenant at 24% of rental income) › WAULT : 2.2 years (renewable lease strategy) › Rental reserved estimated at 27% STATUS PROJECT SIZE Signed
Slide 20: Buckhauserstrasse 24-26 Zürich (ZH)
TRANSACTION CLOSED BUCKHAUSERSTR OVERVIEW ASSE 24-26 › Well-located in Zürich-Altstetten ZÜRICH (ZH) › › Multi-tenant buildings rented at CHF 200/m2/year with a 3,6y WAULT Big OPEX that need optimization STATUS PROJECT SIZE Transferred end of March 2025 Asset deal MCHF 70.1 3Y rental guarantee RISK/
Slide 21: Meyrin 214 Meyrin (GE)
TRANSACTION CLOSED OVERVIEW MEYRIN 214 › Very well located on close to highway, airport, tram with great visibility MEYRIN (GE) › Fully let, multi-tenant (garage 64%, fitness 30% and finance 6%) › WALB : 9.0 years › Tax exemption STATUS PROJECT SIZE Transferred in May 2025 Asset deal MCHF 26.0 Lease
Slide 22: Content
CONTENT 01. OVERVIEW 02. MARKET 03. FINANCIAL RESULTS 04. PORTFOLIO ACTIVITIES 05. OUTLOOK 2025/26 22
Slide 23: Focus and Outlook 2025/26
OUTLOOK 2025/26 FOCUS AND OUTLOOK 2025/26 Strong starting portfolio bodes well for next year › Actively source and negotiate strategic acquisitions to strengthen the portfolio › Prepare next capital increase (Q4 2025) to support portfolio growth in line with the initial business plan › Secure optima
Slide 24: Current Dealflow
OUTLOOK 2025/26 CURRENT DEALFLOW Advanced discussions Indicative gross/net Future Buildings Status Sector Strategy Volume yields CAPEX Core+ New Kriens Exclusivity Hôtel Construction CHF 21M 5.2%/4.9% construction Lucerne project (2028) project Vernier Exclusivity OPRE – Health Core CHF 26M 4.8%/4.4
Slide 25: Kriens Lucerne
DEALFLOW OVERVIEW KRIENS › New 3-star hotel in a new neighborhood (Kriens Nidfeld) with delivery expected in April 2028 LUCERNE › 15Y lease contract signed with B&B with 2x 15 years options › B&B is a successful brand opening its 5th hotel in Switzerland › TU-Vertrag signed with Losinger Marazzi STA
Slide 26: Vernier Geneva
DEALFLOW OVERVIEW VERNIER › Well-located building at crossroads of multiple important axes GENEVA › Rehabilitation clinic operating successfully for many years › Single-tenant with a 15Y WAULT STATUS PROJECT SIZE Exclusivity Share-deal MCHF 26,3 RISK/RETURN PROFILE SUSTAINABILITY INITIAL YIELDS Core
Slide 27: Saxon Valais
DEALFLOW OVERVIEW SAXON › Fully-let OPRE-Health care building VALAIS › Single-tenant medial group with an 8,5Y lease term + (3x 10y options) › Building from 2012 heating through pellets + geothermical heating pump STATUS PROJECT SIZE Exclusivity Asset deal MCHF 27,0 RISK/RETURN PROFILE SUSTAINABILIT
Slide 28: Conclusion: Key success factors
CONCLUSION Key success factors Investment Invest in resilient Experienced Strong opportunities sectors where team with governance are emerging at the prospects for proven and attractive attractive prices rental growth track-record cost structure are good EDMOND DE ROTHSCHILD 28
Slide 29: 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 30: Fund Terms
FUND TERMS Name Edmond de Rothschild Real Estate SICAV – Commercial income Target return 4.5% income return and 6% total return per annum Acquire assets at attractive initial yields, hold long term and manage actively to sustain and enhance Strategy income Types of assets Modern offices, urban indus
Slide 31: 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 32: www.edmond-de-rothschild.com EDMOND DE ROTHSCHILD
www.edmond-de-rothschild.com EDMOND DE ROTHSCHILD
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