Infracore SA Infracore reports solid first-half performance and confirms 2026 distribution guidance

Ad hoc announcement pursuant to Art. 53 LR

Fribourg, 6 August 2026

Infracore reports solid first-half performance and confirms 2026 distribution guidance

Rental income increased by 5.3%, net profit rose by 5.5% and net loan-to-value improved to 42.8%. Based on the current full-year outlook, Infracore expects to propose a distribution of CHF 2.95 to CHF 3.05 per share for the 2026 financial year.

Infracore SA («Infracore» or the «Company»), a leading owner of healthcare infrastructure in Switzerland, today announces preliminary, unaudited results for the six-month period ended 30 June 2026.

Infracore delivered a solid operating performance in the first half of 2026, supported by the stability and long-term nature of its rental income and the resilience of its healthcare-focused real estate portfolio.

Rental income increased by 5.3% to CHF 35.9 million, compared with CHF 34.1 million in the first half of 2025. EBITDA reached CHF 32.4 million, up 3.6%, corresponding to an EBITDA margin of 90.4%.

EBIT increased by 3.6% to CHF 32.2 million. The financial result improved to a net expense of CHF 5.5 million, compared with CHF 5.7 million in the prior-year period. Net profit rose by 5.5% to CHF 22.8 million.

Earnings per share and participation certificate amounted to CHF 1.96, compared with CHF 1.86 in the first half of 2025. No revaluation gains or losses were recognized during the reporting period.

Cash flow from operating activities before changes in working capital increased to CHF 23.6 million, compared with CHF 22.8 million in the prior-year period. Reported operating cash flow amounted to CHF 20.2 million, mainly reflecting working-capital movements during the period.

The market value of Infracore’s investment properties, investment properties under construction and development projects amounted to CHF 1.412 billion as at 30 June 2026, broadly unchanged compared with the end of 2025. In addition to investments in ongoing construction projects, two non-core annex properties in Solothurn and Sorengo were sold in the first half of 2026. In line with the Company’s valuation policy, no external revaluation of the portfolio was performed at the half-year stage.

Net loan-to-value improved to 42.8%, compared with 44.5% at 31 December 2025 and 48.6% at 30 June 2025. NAV before deferred taxes amounted to CHF 792.0 million, while NAV after deferred taxes stood at CHF 671.4 million. The decrease compared with year-end 2025 mainly reflects the CHF 40.0 million distribution relating to the 2025 financial year.

Infracore’s initial public offering was completed on 9 July 2026 and is therefore not reflected in the financial statements for the six months ended 30 June 2026. The acquisition of the See-Spital property in Horgen was completed in early July, prior to the IPO, and represents Infracore’s first sale-and-leaseback transaction with a public hospital.

The Half-Year Report will include additional unaudited post-IPO financial information reflecting the effects of the IPO, the acquisition of the See-Spital property and the Company’s ordinary business activities through the end of July. This information will provide investors and analysts with a more representative view of Infracore’s financial position following the listing.

Based on the current portfolio, completed transactions and prevailing financing conditions, Infracore expects full-year 2026 rental income of approximately CHF 74 million and funds from operations of approximately CHF 47 million.

The Board of Directors expects to propose a distribution for the 2026 financial year in the range of CHF 2.95 to CHF 3.05 per share. Based on 15’303’703 shares entitled to the distribution, this represents an aggregate amount of approximately CHF 45.1 million to CHF 46.7 million.

Subject to the final full-year results and approval by the Annual General Meeting, approximately 50% of the amount is expected to be distributed from capital contribution reserves and approximately 50% as an ordinary dividend, in accordance with applicable Swiss law and regulations.

Eric Frey, Chief Executive Officer of Infracore, said: «Infracore delivered another period of stable growth, high profitability and improved financial leverage. The successful IPO and the acquisition of the See-Spital property mark important milestones in the development of the Company. Our resilient cash flows, long-term leases and healthcare-focused portfolio provide a strong basis for sustainable distributions and future growth.»

Infracore will publish its complete Half-Year Report 2026 on 27 August 2026. An analyst and media conference call will be held on the same day at 02:00 pm CEST.

For more information:  Media and IR contact c/o Dynamics Group, Zurich
Thomas Balmer, tba@dynamicsgroup.ch, +41 79 703 87 28
Alexandre Müller, amu@dynamicsgroup.ch, +41 79 635 64 13

 

About Infracore SA

Infracore SA is one of Switzerland’s leading owners of healthcare infrastructure. The company owns and develops a real estate portfolio dedicated to the healthcare sector. Its model is based on long-term lease agreements with hospital and healthcare operators, providing high visibility of rental income and direct exposure to the growing need for modern healthcare infrastructure in Switzerland. Infracore is listed on the Swiss Reporting Standard of the SIX Swiss Exchange (INFRAC.SW). www.infracore.ch