The audited annual financial statements show an asset value of CHF 27.40 per TREE and an equity ratio of around 79 percent.
TREECYCLE AG received approval for its new securities prospectus on June 23, 2026. The basis for this is the IFRS Annual Financial Statements 2025 audited by the international auditor Grant Thornton on 12 June 2026. The audited annual financial statements document the expansion of the asset base, the strengthening of the equity base and the further development of the company's reforestation projects.
Significant expansion of the asset base
According to the audited annual financial statements, the carrying value of the plantations and land increased from around CHF 12.5 million at the end of 2024 to around CHF 33.1 million at the end of 2025. This corresponds to an increase of around 165 percent.
The asset value as of the balance sheet date was CHF 27.40 per TREE. Compared to the previous issue price of CHF 21, this corresponds to a mathematical increase of around 30.5 percent. The real value of the TREE rose from around 64 percent in the 2024 financial year to around 137.7 percent in the 2025 financial year.
The capital structure also developed positively. Equity increased from around CHF 10.4 million to around CHF 28.3 million. The equity ratio was around 79 percent as of the balance sheet date.
"The annual financial statements show how our company has developed in the 2025 financial year. The focus was on the continuous expansion of our reforestation areas, the development of long-term assets and a solid equity base as a basis for further corporate development."
Jörg Schäfer
Founder and CEO of TREECYCLE AG
Expansion of reforestation projects
The development of the assets on the balance sheet is closely related to the expansion of reforestation projects in Paraguay.
The area already reforested increased from around 320 hectares at the end of 2024 to around 920 hectares at the end of 2025. This means that around 600 hectares of additional areas were reforested in the course of the financial year.
TREECYCLE acquires fallow or agriculturally restricted land, develops it for sustainable forestry use and plants it with fast-growing hardwood trees. The aim is to build up sustainable wood resources in the long term and at the same time reduce the pressure on natural forest areas.
Approval of the new securities prospectus
With the approval of the new securities prospectus dated June 23, 2026 , TREECYCLE is creating the regulatory basis for the continuation of the issuance of the TREE® security.
An issue price of CHF 25 per TREE is planned for new subscriptions. This is below the net asset value of CHF 27.40 per TREE as reported in the audited annual financial statements.
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For the 2026 financial year, TREECYCLE has already contractually secured reforestation areas of 1,212 hectares . The reforestation of these areas is planned for the current year.
In addition, the company plans to develop a further 250 hectares for reforestation.
This will increase the total area to almost 3,000 hectares in 2026.
The full Annual Report 2025 will be made available to investors in July 2026. It contains the audited financial statements, the management report and the audit report of Grant Thornton.
