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Haute Capital Partners SA publishes its 2025 annual results and completes its strategic transformation into a Swiss investment company dedicated to private equity
Press Release
Ad hoc announcement pursuant to clause 16 of the BX Listing Rules
Biel/Bienne – June 3, 2026
Haute Capital Partners SA publishes its 2025 annual results and completes its strategic transformation into a Swiss investment company dedicated to private equity
The year 2025 marked a structural inflection point for Haute Capital Partners SA. The Group accelerated its transition into a Swiss investment company dedicated to private equity, strengthening its long-term positioning and its capital structure. With a strengthened balance sheet, increased capital reserves and a growing shareholder base, Haute Capital enters 2026 with greater visibility on its results and a clearer long-term growth trajectory.
The financial year should be assessed in the context of a deliberate strategic transition phase. While global markets experienced volatility and valuation fluctuations, the Company prioritised its structural positioning, the build-up of private equity investments and the preparation of its next growth cycle.
2025 Financial Results
Under Swiss GAAP FER, the Group recorded a net result of CHF -4.4 million for the 2025 financial year (2024: CHF -0.5 million), or CHF -3.81 per share. This result reflects the continued development of the Group’s operating platform during the transition year, as well as net changes in the valuation of the investment portfolio: net realised gains amounted to CHF 0.8 million but were more than offset by non-cash, unrealised valuation losses of CHF 1.8 million recognised over the period.
Over the same period, the Group’s equity was significantly strengthened. Transactions in treasury shares generated a net increase in equity of CHF 7.0 million (including an increase of CHF 11.7 million in capital reserves), recognised directly in equity in accordance with Swiss GAAP FER. Total equity rose by 16.10% to CHF 18.1 million and capital reserves increased to CHF 33.9 million (2024: CHF 22.2 million), while net asset value per share rose by 11.3% to CHF 15.28 (2024: CHF 13.73). The Group closed the financial year with CHF 6.0 million in cash and virtually no long-term financial debt, preserving full financial flexibility for the next investment cycle.
The Board of Directors considers 2025 to be a transition year during which the Group strengthened its capital structure and positioned its portfolio for its next development cycle.
Balance sheet strengthening through the structural transformation
Despite a complex market environment in 2025, Haute Capital continued to strengthen its financial foundations and its long-term positioning. Total assets rose to CHF 18.8 million, an increase of 18.18% year on year, reflecting the continued expansion of the investment base and of strategic holdings. Non-current assets more than doubled, driven primarily by the development of strategic investments in the Swiss private equity sector.
Total equity increased by 16.12%, reflecting the optimisation of the capital structure and the creation of intrinsic value. Capital reserves rose sharply to CHF 33.9 million, compared with CHF 22.2 million in 2024, significantly strengthening financial flexibility and supporting the new long-term business plan adopted by the Company.
The Group continues to operate with extremely low leverage, maintaining virtually no long-term financial debt. Net asset value per share increased by 11.29%, reflecting the creation of intrinsic value despite short-term valuation volatility during the repositioning phase.
Following the restructuring initiated at the end of 2025, the Company intends to:
Reduce structural operating expenses;
Increase the contribution of recurring revenues;
Improve operating leverage;
Strengthen visibility on long-term profitability.
The full financial impact of this transformation is expected to materialise increasingly from 2026 onwards.
Transition to IFRS and to investment company status
While the 2025 financial statements are presented under Swiss GAAP FER, the Company has initiated its transition to IFRS reporting standards, which will apply in future reporting periods. Concurrently, the Company has completed its transformation into an active investment company focused on Swiss private equity.
Beyond the change of accounting framework, the transition to IFRS introduces the measurement of holdings at fair value, as opposed to the historical cost applied under Swiss GAAP FER. It aims to reflect the economic value of the portfolio more faithfully and aligns financial reporting with the Company’s long-term investment model.
By adopting IFRS and positioning itself as a Swiss listed private equity investment company denominated in Swiss francs, Haute Capital becomes a listed company offering:
Exposure to a diversified portfolio of innovative Swiss private companies;
Governance and transparency at an institutional level;
A share listed in Swiss francs (CHF), offering alignment with the national currency.
This evolution broadens access to private equity opportunities while retaining the characteristics of a listed company.
CEO Statement
Thibault Leroy Bürki, Chief Executive Officer of Haute Capital Partners SA, stated: "2025 was a year of structural transformation. Our financial statements must be understood in the context of what we have become: a holding company rather than a company generating recurring operating revenues. Our value is built over time, through the appreciation of our holdings, and not through the accounting result of a single financial year. In this respect, the result of this phase is fully consistent with our long-term planning and our value-creation logic. We have deliberately positioned Haute Capital for its next decade of growth: by strengthening the balance sheet, increasing capital reserves and accelerating our transition towards a Swiss private equity investment model. The transition to IFRS, which introduces the measurement of our holdings at fair value, will enable a more faithful reading of our accounts in the coming financial years. Our balance sheet is thereby strengthened and consolidated. We enter 2026 with a solid capital structure, greater visibility on our results and a disciplined long-term strategy, focused on high-quality and scalable Swiss private equity investments. Our objective remains unchanged: sustainable value creation, underpinned by structural financial solidity.”
Financial statements
The 2025 annual financial statements of Haute Capital Partners SA are available on the Company’s website in the “Investors” section.
Annual General Assembly
The General Assembly of Haute Capital Partners SA will take place on 24 June 2026 at 13:30 at Bernexpo in Bern. Shareholders are invited to attend this important meeting.
About Haute Capital Partners SA
Haute Capital Partners SA is a Swiss-listed investment company dedicated to creating long-term value through a diversified and forward-thinking approach. Listed on BX Swiss, it brings together private equity, digital assets, and quoted investments within a transparent and institutional-grade structure, offering both private and professional investors access to advanced financial opportunities in a responsible and innovative way. The company's registered shares are listed on the BX Swiss:
Ticker: HAUTE | ISIN: CH1115678950 | Valor: 111567895 | www.haute.com
Investor Inquiries
Haute Capital Partners SA
+41 32 321 35 35 | ir@haute.com
Media & General inquiries
Haute Capital Partners SA
+41 32 321 35 35 | info@haute.com
DISCLAIMER
This publication constitutes neither an offer to sell nor a solicitation to buy securities of the Company and it does not constitute a prospectus or a similar communication within the meaning of article 652a, 752 and/or 1156 of the Swiss Code of Obligations or a listing prospectus within the meaning of the listing rules of the BX Swiss. The listing is being made solely by means of and based on the published securities prospectus (including any amendments thereto, if any). An investment decision regarding the securities of the Company should only be made based on the securities prospectus. The prospectus is available free of charge in Switzerland for 12 months following the first day of trading at HAUTE CAPITAL PARTNERS SA, Plänkestrasse 32, 2502 Biel/Bienne, Switzerland. This communication is being distributed only to, and is directed only at (i) persons outside the United Kingdom, (ii) persons who have professional experience in matters relating to investments falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (iii) high net worth entities, and other persons to whom it may otherwise lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as "Relevant Persons"). Any investment or investment activity to which this communication relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. Any person who is not a Relevant Person must not act or rely on this communication or any of its contents. This communication does not constitute an "offer of securities to the public" within the meaning of Regulation (EU) 2017/1129 (the "Prospectus Regulation") of the securities referred to in it (the "Securities") in any member state of the European Economic Area (the "EEA"). The securities referred to herein have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States or to US persons (as such term is defined in Regulation S under the Securities Act) unless the securities are registered under the Securities Act, or an exemption from the registration requirements of the Securities Act is available. The issuer of the securities has not registered, and does not intend to register, any portion of the securities in the United States, and does not intend to conduct a public offering of securities in the United States.