Ad hoc announcement pursuant to Art. 53 LR

Zurich, 28 August 2025 – The listed Helvetica Swiss Living Fund (HSL Fund), which benefits from the attractiveness of suburban locations, reported a successful first half of 2025. The further improvement in net income has kept the fund on track to meet its distribution target of CHF 2.80 per unit for the 2025 financial year and contributed significantly to the strong return on investment of 2.94 percent.

• Net income: CHF 1.56 per unit generated in the first half of the year keeps the fund on track for its distribution target for 2025 of CHF 2.80 per unit
• Letting: Occupancy rate as at the reporting date increased to 96.4 percent
• Performance: Portfolio value increased by 0.6 percent and capital gains of CHF 1.1 million realised from two property sales
• Cost structure: TER_REF GAV kept stable at 0.69 percent
• Return on investment: 2.94 percent achieved in the first half of the year

Financial performance and key operating figures

In the first half of 2025, the HSL Fund generated net income of CHF 5.6 million, which corresponds to CHF 1.56 per unit. The fund is therefore on track to reach its distribution target of CHF 2.80 per unit for 2025. Total profit increased significantly to CHF 9.1 million (31.12.2024: CHF -28.02 million), illustrating the successful first half of 2025.

In addition to the positive trend in earnings, the key operating figures also reflect the fund’s attractive positioning. Supported by high demand for housing in suburban regions and thanks to a strong performance in letting, the occupancy rate on the reporting date rose to 96.4 percent.

The improved operating cost structure increased the EBIT margin to 65.63 percent and kept fund operating expenses (TER_REF GAV) stable at 0.69 percent. Lower financing costs also contributed to the good result. 

The focus remains on specific decarbonisation measures – including the renovation of existing heating systems, the targeted expansion of photovoltaic systems and the CO₂ reduction pathway to net zero by 2050 (target by 2035 of 6.5 kg CO₂e/m²). In the first half of the year, several PV systems in Wattwil (St. Gallen), whose output is designed to supply more than 100 households, were connected to the grid. 

Performance and return on investment

The property portfolio comprises 38 properties with an aggregate market value of CHF 488 million. The realised capital gain of CHF 1.1 million from the sale of two properties with a total value of CHF 45.2 million and the appreciation of the portfolio by +0.6 percent compared with the end of 2024 underscore the stability of the portfolio’s value at a stable discount rate.

As at the balance sheet date, net asset value (NAV) amounted to approximately CHF 361 million. Net asset value per unit rose slightly to CHF 100.98 (31.12.2024: CHF 100.90). Return on investment for the first half of the year was 2.94 percent, largely based on strong net income.

Outlook

In the second half of 2025, the fund management is aiming for continuing high earnings and further operational progress in order to reach the distribution target of CHF 2.80 per unit in 2025. At the same time, there are plans to further develop the portfolio through targeted transactions and to complete feasibility studies for energy-saving renovations in order to prepare for their implementation in a targeted manner.

More details, facts and figures in the HSL Fund’s Half-Year Report 2025: Helvetica.com

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About Helvetica
Helvetica Property Investors AG, founded in 2006, is an independent real estate investment manager and FINMA-regulated fund manager. We offer institutional and private investors stable property investments with sustainable returns and develop individual solutions that we manage via our fully integrated value chain. Our listed investment products – the commercially focused HSC Fund and the residentially focused HSL Fund – invest in high-growth, suburban locations throughout Switzerland. Sustainability is an integral component of our business and is formally embraced at fund level throughout the entire property cycle. Helvetica.com

Helvetica Swiss Living Fund
The HSL Fund is a Swiss real estate fund for public investors, listed on the SIX Swiss Exchange. It invests in residential properties throughout Switzerland, primarily in suburban, high-growth locations with excellent access to business centres. All properties are GEAK-certified. The investment portfolio is geared towards long-term value preservation and the distribution of constant income. The HSL Fund is authorized by the Swiss Financial Market Supervisory Authority FINMA. Listing SIX Swiss Exchange; ticker symbol HSL; valor 49 527 566; ISIN CH0495275668

Disclaimer
This media release does not constitute a prospectus within the meaning of Art. 35 et seq. of the Federal Act on Financial Services or Art. 27 et seq. of the Listing Rules of SIX Swiss Exchange Ltd, nor a basic information sheet. It does not constitute an offer or a recommendation to subscribe for or redeem fund units but is intended solely for information purposes. This media release may contain forward-looking statements that are subject to uncertainties and risks and may change. Historical performance is no guarantee of current or future performance. The performance data do not take into account any commissions and costs charged on the subscription and redemption of units. The documents that are solely relevant for an investment decision, the prospectus with integrated fund contract as well as the current annual report can be obtained free of charge from the fund management company. This media release is not addressed to persons resident and/or domiciled outside Switzerland. In particular, this media release may not be made available or handed over to US persons within the meaning of the US Securities Act or US tax regulations, nor may it be distributed in the USA.
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