Ad hoc announcement pursuant to Art. 53 LR

Zurich, 05 March 2025 – Helvetica Swiss Opportunity Fund (HSO Fund) had an operationally solid year in 2024. The Fund Management Company pursued clear strategic priorities in order to maintain the fund’s strong earnings performance, significantly reduce the debt financing ratio and optimally position it for the IPS and subsequent merger with the Helvetica Swiss Commercial Fund (HSC Fund).
 

• Increase in occupancy rate to 99% at year end with a WAULT of 4.5 years
• Reduction in debt financing ratio to 15.27% (previous year 40.34%)
• Constant distribution of profits of CHF 5.50 per share, as in the previous year
• Increase in REIDA coverage to 96%
• Opened up to public investors in January 2025 and IPO in February 2025
• Confirmation of merger schedule with Helvetica Swiss Commercial Fund (HSC Fund): the merged HSC Fund is scheduled to start trading on the SIX Swiss Exchange on 23 June 2025

The Fund Management Company successfully achieved the specified, strategic objectives in the 2024 financial year. The fund is ideally placed to complement the HSC Fund in a profitable, risk-diversified manner when the merger is complete.

Implementation of Strategic Priorities

Maintaining strong portfolio income: based on stable tenancies and close tenant relations, the occupancy rate at the end of the year increased to almost 99% and a WAULT of 4.5 years was achieved. The rent default rate in the financial year fell to below 3%.

Reduced debt financing ratio: the sale of three properties for around CHF 125 million (market value as of 31 December 2023) increased the portfolio's focus on suburban regions and reduced the debt financing ratio to 15.27% (40.34% in the previous year). This brought the fund into line with all the regulatory requirements necessary for its merger with the HSC Fund.

Optimised cost structure: the reduction in management fee to 0.65% (0.70% in the previous year) and fall in interest charges led to an improved cost structure. These optimisations resulted in savings of CHF 0.4 million in fund management costs and CHF 0.3 million in interest charges.

The fund’s Income Performance

Distribution of profits: thanks to the strong income performance, the HSO Fund maintained a stable dividend level and distributed CHF 5.50 per share, as in the previous year.

Net income: the fund generated a net income of CHF 8.9 million (CHF 9.9 million in the previous year), despite property sales.

EBIT margin: thanks to healthy portfolio income and optimised cost structure, the fund maintained a stable EBIT margin of over 70%.

Sustainability: REIDA coverage rose from 73% to 96%, all the possible GEAK certificates were obtained and the first photovoltaic systems were commissioned. CO₂ emissions were 7.5 kg CO₂/m² (target: 4.5 kg CO₂/m² by 2035). The first tenant survey provided valuable insights into new in-house management.

Performance and Return on Investment

Development of net asset value (NAV): the portfolio’s market value fell by CHF 130 million to CHF 196 million, mainly as a result of sales. The net asset value declined by CHF 25.3 million to CHF 154.3 million.

This reduction is attributable to the distribution of profits in 2023, accrued net income, realised capital losses from sales of CHF 21.4 million and depreciation of the existing portfolio (like-for-like) of CHF 4.9 million. These value adjustments reflect additional maintenance costs with constant discount rates. Around CHF 2.6 million of this amount was already reported in the first half of 2024.

The net asset value per share at the end of 2024 was CHF 98.76 (CHF 114.94 in the previous year).

Return on investment: despite sales, the fund achieved a strong cash flow yield of 5.21% (5.50% in the previous year), while the change-in-value yield was -14.97%. This resulted in a return on investment of -9.76% for the 2024 financial year.

2025 Outlook

For the 2025 financial year, the Fund Management Company is focussing on the following areas:

• Merger with the HSC Fund with the first day of trading on the SIX Swiss Exchange scheduled for 23 June 2025, with the HSC Fund being the acquiring fund (see press release/merger schedule published on 28 February 2025 on Swiss Fund Data). To this end, the HSO Fund opened to public investors in January 2025 and was listed on the SIX Swiss Exchange on 11 February 2025.
• Further operational improvements and increased earnings, as well as increased value, thanks to targeted potential utilisation within the existing portfolio
• Efficient fund and portfolio management to further reduce costs

Further details, facts and figures in the HSO Fund's 2024 Annual Report: Helvetica.com

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 HSO 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 Opportunity Fund
The HSO Fund is a Swiss real estate fund for public investors, listed on the SIX Swiss Exchange. It invests in specialised commercial properties throughout Switzerland, focusing on operator, commercial, warehouse and logistics buildings, primarily in suburban, high-growth and easily accessible locations. The focus is on real estate with few tenants and long-term leases that generate stable income. The investment portfolio is geared towards long-term value preservation and the distribution of constant income. The HSO Fund is authorized by the Swiss Financial Market Supervisory Authority FINMA. Listing SIX Swiss Exchange; ticker Symbol HSO; valor 43 472 505; ISIN CH0434725054

Helvetica Swiss Commercial Fund
The HSC Fund is a Swiss real estate fund for public investors, listed on the SIX Swiss Exchange. It invests in specialised commercial properties throughout Switzerland, focusing on office, commercial and retail use, primarily in suburban, high-growth and easily accessible locations. The investment portfolio is geared towards long-term value preservation and the distribution of constant income. The HSC Fund is authorized by the Swiss Financial Market Supervisory Authority FINMA. Listing SIX Swiss Exchange; ticker symbol HSC; valor 33 550 793; ISIN CH0335507932

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.
In case of doubt, the German version shall prevail.