HIAG Immobilien Holding AG

HIAG

Equity

ISIN CH0239518779 / Valor 23951877

SIX Swiss Exchange (2026-10-05)

CHF 127.00+0.16%

HIAG Immobilien Holding AG
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About company

HIAG Immobilien Holding AG is a Swiss real estate company that focuses on the development, management, and optimization of a diverse property portfolio. The company operates an integrated business model that spans the entire lifecycle of a property, from site and project development to portfolio and asset management, primarily conducted in-house. HIAG's investment strategy targets former industrial sites, as well as commercial, office, logistics, and select residential properties, particularly in economically significant and growth-oriented regions of German and French-speaking Switzerland, though its market presence extends across the entire country. The company employs a capital recycling strategy, continuously optimizing its portfolio through strategic acquisitions and divestments to enhance value over multiple generations. As a publicly listed entity with long-term anchor shareholders, HIAG leverages its access to capital markets and a proactive, entrepreneurial approach to adapt to market developments, aiming for sustainable value creation through its project pipeline and strategic investments.

Summarized from source with an LLMView SourceSector: Finance

Net income and operating performance

Net income: CHF 115.1m in 2025 (+53.1% vs 2024). Total operating income rose to CHF 218.0m (2024: CHF 162.7m). EBITDA increased to CHF 139.8m (2024: CHF 93.8m), and EBIT was CHF 138.8m (2024: CHF 93.3m).

Underlying earnings (excl. revaluations)

Net income excluding revaluations: CHF 68.7m (+32.5% vs 2024), showing meaningful underlying profit growth beyond valuation effects.

Property income and revaluations

Property income: CHF 77.4m (+2.3%). Revaluation gains were CHF 51.4m (2024: CHF 26.0m), up ~97.7%, supporting the strong headline result and reflecting positive asset value momentum.

Transactions and development results

Income from sale of condominiums: CHF 64.4m (2024: CHF 49.0m); profit from those sales CHF 25.0m (2024: CHF 18.1m, +38.1%). Profit from sale of investment properties: CHF 18.7m (2024: CHF 2.9m), a material improvement.

Portfolio metrics and occupancy

Vacancy rate at a low 3.2% (01.01.2026). WAULT (weighted average unexpired lease term) ~6.5 years (Top 15 tenants WAULT 7.1 years), indicating stable rental cash flows.

Balance sheet and capital structure

Equity ratio reported at ~57.0%. Net LTV ~37.3% (low leverage), reflecting a strong balance sheet and financing headroom for growth.

Financing and interest environment

Average interest rate on financial liabilities 1.7% in 2025 (slightly down vs 2024). Interest‑rate fixation duration ~2.2 years and capital commitment duration ~2.5 years, with continued access to committed facilities to finance the pipeline.

Dividend and outlook

Board proposes a dividend increase to CHF 3.70 per share. Management describes the outlook as promising, supported by a sharpened strategy, project pipeline and continued capital recycling to fund growth.

Summarized from source with an LLMView Source

Key figures

15.7%1Y

58.8%3Y

27.8%5Y

Performance

19.1%1Y

17.8%3Y

17.9%5Y

Volatility