Intended Ina Invest spin-off is well received

• Intended spin-off of a part of Implenia’s development portfolio is well received
• Pending approval from Implenia’s AGM on 24 March 2020, Ina Invest Holding Ltd. will be listed on the SIX Swiss Exchange in June 2020
• Stefan Mächler is the designated Chairman of the Board of Directors of Ina Invest Holding Ltd. and Ina Invest Ltd.
• Swiss Life intends to take a stake of up to 15% in Ina Invest Holding Ltd.

Dietlikon, 3 March 2020

The intended spin-off of part of Implenia’s development portfolio, announced on 25 February 2020, has already met with great interest from significant real estate investors and has been well received by existing major shareholders. The spin-off will allow Implenia to extend its value chain and further diversify its business. Instead of selling developed, shovel-ready projects to third parties, as it has done so far, it will be able to keep projects in the portfolio for the long term through Ina Invest. A new company within Implenia (Implenia Real Estate Services AG) will handle real estate management, i.e. project, portfolio and asset management relating to the properties, for Ina Invest Ltd. This will give Implenia a recurring, and over time increasing, income in addition to dividends from Ina Invest Ltd.

The spin-off crystallises the value of Implenia’s development portfolio. According to an independent real estate valuer, the current market value of the portion being spun off is approximately CHF 300 million, or CHF 1 billion on completion of all projects. With investments, e.g. in the land bank, of around CHF 50 million a year, the portfolio should grow to approximately CHF 2 billion on completion. Pending approval from Implenia’s General Meeting of Shareholders on 24 March, Ina Invest will become a new force in the Swiss real estate sector and will be floated on the SIX Swiss Exchange in June 2020. This will allow investors to participate directly in Ina Invest’s portfolio through the stock market.

Stefan Mächler is the designated Chairman of the Board of Directors of Ina Invest Holding Ltd. and Ina Invest Ltd.

Implenia has appointed Stefan Mächler, a proven expert with extensive experience in the real estate business, as the designated first Chairman of the Board of Directors of Ina Invest Holding Ltd. and Ina Invest Ltd. After completing his legal studies at the University of St. Gallen, Stefan Mächler worked for Credit Suisse in various positions. He was the driving force behind the foundation of listed real estate company Swiss Prime Site AG, where he was Chairman until 2005. From 2009 to 2014, Stefan Mächler was a Member of the Group Executive Management and Chief Investment Officer for Asset Management at Mobiliar. Since September 2014 he has been Group Chief Investment Officer (Group CIO) and Member of the Group Executive Board of Swiss Life Group.

Stefan Mächler said the following about his appointment as designated Chairman of the Board of Directors of Ina Invest: “The announced spin-off of Ina Invest is a great move. I and the future Ina Invest team will do everything in our power to make it a success. Ina Invest certainly promises to be financially very interesting. Added value should be created for shareholders through the expected increase in value of projects during the development phase and later in the rental phase. Ina Invest will also benefit from integrated cooperation with Implenia’s network and services, including in portfolio management, asset management, development, project management, execution and marketing.”

Swiss Life intends to take a stake of up to 15% in Ina Invest Holding Ltd.

As well as a positive reception from existing shareholders, Ina Invest has already met with great interest from significant real estate investors. A particularly strong sign of this is Swiss Life’s intention to take a major stake of up to 15% in Ina Invest Holding Ltd. – by participating in the planned and any future capital increase, and by buying Ina Invest shares on the stock market.

Contact for media:

Silvan Merki, Chief Communications Officer
T +41 58 474 74 77
communication@implenia.com

Contact for Investors and Analysts:

Christian Dubs, Head of Investor Relations
T +41 58 474 29 99
ir@implenia.com

Shareholder Brochure

The Shareholder Brochure for Implenia’s spin-off of Ina Invest can be downloaded here.

Presentation

The presentation given at the media and analysts’ conference of 25 February 2020 can be found here.

Investors’ diary

Implenia is Switzerland’s leading construction and construction services company. It has significant building construction and civil engineering operations in Switzerland, Germany and Austria, as well as strong positions in the infrastructure sectors of all its home markets: Switzerland, Germany, Austria, France, Sweden and Norway. Implenia is also a successful real estate developer in Switzerland and Germany. Established in 2006, Implenia can look back on around 150 years of construction tradition. It brings the expertise of its highly skilled consultancy, planning and execution units together under the single roof of a leading multinational construction services provider. With Implenia’s broad offering and the deep experience of its specialists, the Group can realise complex major projects and provide integrated, customer-centric support across the entire life-cycle of a building or structure. The focus is on customer needs and striking a sustainable balance between financial success and social and environmental responsibility. Implenia, with its headquarters in Dietlikon near Zurich, employs more than 10,000 people in Europe and posted revenue of over CHF 4.4 billion in 2019. The company is listed on the SIX Swiss Exchange (IMPN, CH0023868554). More information can be found at www.implenia.com.