New Risk • Apr 10
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 8.8% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (8.8% operating cash flow to total debt). Earnings are forecast to decline by an average of 22% per year for the foreseeable future. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (103% net profit margin). 공시 • Apr 01
Cham Swiss Properties AG, Annual General Meeting, May 04, 2026 Cham Swiss Properties AG, Annual General Meeting, May 04, 2026, at 16:30 W. Europe Standard Time. Reported Earnings • Mar 25
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: CHF3.35 (down from CHF228 in FY 2024). Revenue: CHF140.6m (up CHF132.5m from FY 2024). Net income: CHF144.3m (down 14% from FY 2024). Revenue exceeded analyst estimates by 33%. Earnings per share (EPS) also surpassed analyst estimates by 3.1%. Revenue is expected to fall by 16% p.a. on average during the next 2 years compared to a 2.3% decline forecast for the Real Estate industry in Switzerland. New Risk • Mar 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (6.2% operating cash flow to total debt). Earnings are forecast to decline by an average of 64% per year for the foreseeable future. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Large one-off items impacting financial results. New Risk • Nov 21
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 64% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (6.2% operating cash flow to total debt). Earnings are forecast to decline by an average of 64% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. 공시 • Oct 20
Cham Swiss Properties AG Announces Rocket & Tigerli Construction Project: Plans More Apartments Cham Swiss Properties AG revised the ‘Rocket & Tigerli’ construction project in close coordination with the City of Winterthur. Instead of a hotel, additional apartments will now be created, 30% of which will be in the affordable segment. Cham Swiss Properties expects the building permit to become legally effective in the course of 2026. The ‘Rocket & Tigerli’ ensemble is significant for the City of Winterthur: with around 300 rental apartments – 30% of which are affordable – it will help alleviate the housing shortage. ‘Rocket’ will dominate the Winterthur skyline as a 100-metre-high skyscraper. At the beginning of April 2025, the city of Winterthur granted the building permit for the construction project, subject to some important conditions. These primarily concerned access to the ground-floor spaces and the public use of the top floor. Cham Swiss Properties took the conditions imposed by the authorities as an opportunity to further improve the project. During this interim phase – between the completion of detailed planning and the start of construction – the company has been in constructive dialogue with the relevant authorities of the City of Winterthur. The most significant change to the project is the decision to abandon the planned hotel use in the high-rise building in favour of around 5,000 m² of additional living space – 30% of which will be in the affordable segment. The affordable apartments are designed to be suitable for young people in education or for shared apartments. The decision to forego hotel use also allows Cham Swiss Properties to significantly enhance the ground floor: instead of an almost fully automated hotel check-in, the company now plans publicly accessible retail and gastronomy spaces. The top floor will likewise be upgraded with a panoramic viewing area and an event and hospitality space. As part of the project improvement, Cham Swiss Properties also reviewed the use of materials: ‘Rocket’ was originally planned as a timber hybrid construction, similar to a building that Cham Swiss Properties completed at the beginning of 2025 on its Papieri site in Cham in the canton of Zug. For risk and economic reasons, the company opted for a different construction method, which is just as innovative and sustainable thanks to rapid advances in construction and materials technology. Today, there are CO2 equivalent alternatives to timber hybrid construction available that offer clear advantages in terms of cost-effectiveness, predictability and material availability, especially for high-rise buildings. The sustainability standards for ‘Rocket’ remain unchanged: thanks to optimised statics, efficient use of materials and CO2-reduced concrete, the building will have a particularly low ecological footprint. Certification according to the recognised SNBS Gold standard is still planned. Once the city’s conditions have been fulfilled, Cham Swiss Properties will withdraw the appeal it filed for formal reasons. The real estate company expects the building permit to become legally binding in the course of 2026, with construction scheduled to start in mid-2027. The completion of ‘Rocket & Tigerli’ is planned for 2030. 
