Infracore SA, a leading Swiss healthcare real estate company, has published its audited consolidated results for the financial year 2025 and outlined proposals for its Annual General Meeting scheduled for 25 March 2026. The company reported rental income of CHF 66.1 million and total revenue including revaluation gains of CHF 82.5 million for the year. The Group recorded EBITDA of CHF 76.7 million, representing a margin of 93.0% of total revenue including revaluation, with profit for the period reaching CHF 55.8 million. The market value of Infracore's investment properties, including those under construction and development projects, stood at CHF 1.412 billion at year-end, reflecting continued portfolio strengthening. The portfolio valuation was conducted by independent appraiser Wüest Partner AG using the discounted cash flow method.
The company's investment portfolio achieved an exceptionally high occupancy rate of 98.7% in 2025, translating to a vacancy rate of approximately 1.3%. Infracore demonstrated strong recurring cash-generation capacity, with cash flow from operating activities before changes in working capital amounting to CHF 42.2 million, representing 51.2% of total revenue including revaluation. This metric serves as a common proxy for Funds From Operations. The company maintains a conservative leverage profile with shareholders' equity of CHF 688.7 million and net debt of CHF 627.8 million, resulting in a Net Loan-to-Value ratio of 44.5% relative to the property portfolio's market value. Based on these financial results, the Board of Directors will propose a dividend corresponding to a payout ratio of 95% of profit excluding results from revaluation at the upcoming AGM.
The company also announced significant governance developments, proposing to elect two new independent members to its Board of Directors: Dr. Stephan Thaler and Céline Amaudruz. Subject to their election, the Board will comprise three independent members, including Chairman Martin Gafner, alongside the new candidates, in addition to one representative each from Medical Properties Trust, Inc. and AEVIS VICTORIA SA. This move toward majority independent board representation aligns with best practice corporate governance standards. Infracore positions itself to capitalize on growing demand for efficient capital allocation and modern infrastructure solutions among public and private healthcare institutions.
As Switzerland's leading hospital real estate specialist and development partner, the company aims to expand its sale-and-leaseback activities by leveraging expertise in structuring long-term partnerships with hospitals. The consolidated financial statements were prepared in accordance with Swiss GAAP FER and were authorized for issue by the Board of Directors on 18 February 2026, with the statutory auditor confirming they present a true and fair view in accordance with applicable standards. For additional details, the original release can be viewed on www.newmediawire.com.
