Infracore SA Reports Strong 2025 Financial Results and Proposes Board Expansion

Infracore SA 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 generated rental income of CHF 66.1 million and total revenue including revaluation gains of CHF 82.5 million during the period. The Group recorded EBITDA of CHF 76.7 million, representing an EBITDA margin of 93.0% of total revenue including revaluation, while profit for the period amounted to CHF 55.8 million, or 67.6% of total revenue including revaluation.

The market value of investment properties reached CHF 1.412 billion at year-end, reflecting continued portfolio strengthening through valuation by independent appraiser Wüest Partner AG using discounted cash flow methodology. Infracore's portfolio maintained exceptional occupancy levels at 98.7% in 2025, resulting in a minimal vacancy rate of approximately 1.3%. The company demonstrated strong recurring cash-generation capacity with cash flow from operating activities before changes in working capital reaching CHF 42.2 million, representing 51.2% of total revenue including revaluation and serving as a proxy for Funds From Operations.

Balance sheet metrics showed shareholders' equity at CHF 688.7 million with conservative leverage positioning. Net debt stood at 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 outcomes, the Board of Directors will propose a dividend corresponding to a 95% payout ratio of profit excluding revaluation results at the upcoming AGM.

Corporate governance enhancements feature prominently in the AGM proposals, with Infracore announcing plans to strengthen independent representation on its Board. The company will propose election of two new independent candidates - Dr. Stephan Thaler and Céline Amaudruz - which would establish a majority of independent Board members. Subject to their election, the Board composition would include three independent members alongside representatives from controlling shareholders Medical Properties Trust, Inc. and AEVIS VICTORIA SA. This structure aligns with corporate governance best practices by incorporating diverse backgrounds, expertise and perspectives.

Infracore positions itself to capitalize on growing demand for efficient capital allocation and modern infrastructure solutions among healthcare institutions. As Switzerland's leading hospital real estate specialist, the company aims to expand sale-and-leaseback activities by leveraging expertise in structuring long-term partnerships with hospitals. The consolidated financial statements were prepared according to Swiss GAAP FER standards and received authorization from the Board of Directors on 18 February 2026, with the statutory auditor confirming they present a true and fair view in compliance with Swiss law. Additional information about the company is available at https://www.infracore.ch while details about controlling shareholder Medical Properties Trust, Inc. can be found at https://www.medicalpropertiestrust.com and information about AEVIS VICTORIA SA is accessible at https://www.aevis.com.