Announcement • Mar 02
Novavest Real Estate AG, Annual General Meeting, Mar 26, 2026 Novavest Real Estate AG, Annual General Meeting, Mar 26, 2026, at 09:30 W. Europe Standard Time. Reported Earnings • Feb 20
Full year 2025 earnings released: EPS: CHF3.00 (vs CHF2.11 in FY 2024) Full year 2025 results: EPS: CHF3.00 (up from CHF2.11 in FY 2024). Revenue: CHF42.9m (up 16% from FY 2024). Net income: CHF30.5m (up 60% from FY 2024). Profit margin: 71% (up from 52% in FY 2024). The increase in margin was primarily driven by lower expenses. Revenue is forecast to stay flat during the next 2 years compared to a 2.1% decline forecast for the Real Estate industry in Switzerland. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. New Risk • Aug 21
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 14% 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 (2.6% operating cash flow to total debt). Earnings are forecast to decline by an average of 14% per year for the foreseeable future. Minor Risk Dividend is not well covered by cash flows (97% cash payout ratio). Announcement • Feb 25
Novavest Real Estate AG, Annual General Meeting, Mar 24, 2025 Novavest Real Estate AG, Annual General Meeting, Mar 24, 2025, at 13:00 W. Europe Standard Time. New Risk • Feb 23
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 375% Cash payout ratio: 97% Dividend yield: 3.8% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (2.6% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Payout ratio: 375% Cash payout ratio: 97% Earnings have declined by 16% per year over the past 5 years. Shareholders have been substantially diluted in the past year (32% increase in shares outstanding). New Risk • Feb 12
New major risk - Revenue and earnings growth Earnings have declined by 13% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 (2.9% operating cash flow to total debt). Earnings have declined by 13% per year over the past 5 years. Shareholders have been substantially diluted in the past year (32% increase in shares outstanding). Minor Risks Dividend is not well covered by earnings (375% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (8.8% net profit margin). New Risk • Jan 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 32% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (2.9% operating cash flow to total debt). Shareholders have been substantially diluted in the past year (32% increase in shares outstanding). Minor Risks Dividend is not well covered by earnings (375% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (8.8% net profit margin). New Risk • Jun 23
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 30% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (3.2% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Cash payout ratio: 91% Earnings have declined by 0.03% per year over the past 5 years. Minor Risk Shareholders have been diluted in the past year (30% increase in shares outstanding). Announcement • Apr 20
Novavest Real Estate AG (SWX:NREN) signed a merger agreement to acquire Senioresidenz AG (BRSE:SENIO). Novavest Real Estate AG (SWX:NREN) signed a merger agreement to acquire Senioresidenz AG (BRSE:SENIO) on April 17, 2024. The Exchange ratio of 1 SenioResidenz share to 0.91 Novavest shares fixed. The Board of Directors of Novavest Real Estate AG will propose to the Extraordinary General Meeting on 29 May 2024 to create 2,325,479 fully paid-in Novavest registered shares with a par value of CHF 22.75 by means of an ordinary capital increase and create conditional capital, from which 134,002 registered shares. The elected members of the Board of Directors of Novavest Real Estate AG and SenioResidenz AG will remain in office until the completion date of the merger. The transaction is subject to approval of the merger and the merger agreement to their shareholders at the respective Extraordinary General Meetings of SenioResidenz AG on May 28, 2024, and Novavest Real Estate AG on May 16, 2024. The transaction expected to complete by June 14, 2024. IFBC AG provided fairnes opinion to Novavest Real Estate and Senioresidenz. Board Change • Dec 17
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Daniel Menard was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 17
First half 2022 earnings released: EPS: CHF0 (vs CHF1.50 in 1H 2021) First half 2022 results: EPS: CHF0. Revenue: CHF14.2m (up 13% from 1H 2021). Net income: CHF11.2m (up 5.6% from 1H 2021). Profit margin: 79% (down from 84% in 1H 2021). Reported Earnings • Feb 24
Full year 2021 earnings: Revenues in line with analyst expectations Full year 2021 results: Revenue: CHF26.7b (up CHF26.7b from FY 2020). Net income: CHF29.3b (up CHF29.3b from FY 2020). Revenue was in line with analyst estimates. Is New 90 Day High Low • Feb 08
New 90-day high: CHF44.10 The company is up 2.0% from its price of CHF43.20 on 10 November 2020. The Swiss market is up 5.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Real Estate industry, which is up 1.0% over the same period. Is New 90 Day High Low • Dec 04
New 90-day low: CHF43.00 The company is down 3.0% from its price of CHF44.40 on 04 September 2020. The Swiss market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is down 1.0% over the same period. Announcement • Jul 10
Novavest Real Estate AG (SWX:NREN) acquired a Portfolio of Six Properties in Basel for CHF 43 million. Novavest Real Estate AG (SWX:NREN) acquired a Portfolio of Six Properties in Basel for CHF 43 million on June 30, 2020. The rental income of the portfolio is CHF 1.7 million per year.
Novavest Real Estate AG (SWX:NREN) completed the acquisition of a Portfolio of Six Properties in Basel on June 30, 2020. 
