EPIC Suisse AG reported a 32.4% increase in net profit to CHF 39.8 million for the first half of 2026, up from CHF 30.0 million in the same period a year earlier. The gain was primarily supported by a CHF 9.4 million realized revaluation gain from the disposal of the Vennes III property in Lausanne, following a 13-year ownership period from completion in 2013 to sale in 2026.
Adjusted profit, excluding disposal and unrealized revaluation effects, rose 7.5% to CHF 22.0 million. Rental income grew 4.0% to CHF 34.7 million, while net operating income increased 4.3% to CHF 32.0 million, maintaining an NOI margin of 89%. EBITDA, excluding disposal and unrealized revaluation effects, climbed 4.8% to CHF 28.1 million, with total EBITDA including revaluation gains reaching CHF 51.4 million.
The disposal of Vennes III generated total proceeds of CHF 51.1 million, net of transaction costs, representing a 23% premium to its independent market value of CHF 41.6 million as of December 31, 2025. The property, acquired in 2011 for CHF 34.3 million, generated CHF 29.3 million in rental income over its ownership period.
EPIC Suisse’s portfolio, valued at CHF 1.67 billion across 24 commercial properties, remains concentrated in Switzerland’s Lake Geneva region (53%) and Zurich economic area (34%). The company’s equity ratio improved to 54.4% as of June 30, 2026, up from 53.5% at year-end 2025, while its net loan-to-value ratio stood at 35.1%. Mortgage-secured bank loans totaled CHF 596.0 million, down 3.4% from year-end 2025, with a weighted average interest rate of 1.2% and an average residual maturity of 3.4 years.
Net asset value per share rose to CHF 82.49 from CHF 82.15 at year-end 2025, despite a CHF 35.9 million dividend distribution. The company raised its full-year rental income growth guidance to approximately 1.5%, up from the prior 1.0%, citing steady demand across its core segments.
Vacancy rates increased to 9.4% from 3.8% a year earlier, though the adjusted rate stood at 2.9% when excluding newly completed developments such as PULSE and Campus Leman Building C. The portfolio’s weighted average unexpired lease term declined to 7.6 years from 7.9 years at year-end 2025, with 89.5% of rental income indexed to Swiss CPI formulas.
Management highlighted progress on its development pipeline, including the upcoming submission of a building permit for Campus Leman Building D in H2 2026 and the receipt of a preliminary building permit for Nexus Brunnpark, with a definitive permit expected by H1 2027. The company’s share price on the SIX Swiss Exchange stood at CHF 82.60 at the end of June 2026.
