Annual Report 2025: Record Growth Across All Divisions

TSH Holding today published its Annual Report for the fiscal year 2025, reporting record results across all five business sectors. Portfolio value increased by 34% year-over-year to $8.2 billion, driven by strong operational performance, strategic acquisitions, and favorable market conditions across key geographies. Revenue grew 28% to $2.6 billion, while net income increased 41% to $890 million. The results underscore the strength of TSH Holding's diversified business model and the effectiveness of its long-term value creation strategy. All five sectors — Real Estate, Hospitality, Design, Ventures, and Collectibles — delivered positive contributions, with three sectors achieving record profitability.

Real Estate remained TSH Holding's largest division, contributing $3.1 billion in portfolio value, driven by strong occupancy rates across the commercial portfolio and successful delivery of three major residential developments. Hospitality achieved a 52% increase in revenue, buoyed by the opening of Aura Island Resort and strong performance across the existing luxury hotel portfolio. Design saw its revenue grow 38%, with particularly strong demand from international luxury brands seeking TSH Design's architectural and interior design services. Ventures delivered exceptional returns, with two portfolio companies completing successful exits and three others achieving unicorn valuations. Collectibles maintained its position as the world's leading luxury asset advisory, with transaction volumes increasing 45%.

The 2025 fiscal year was marked by several strategic milestones that position TSH Holding for continued growth. The company successfully entered three new geographic markets, launched two new investment vehicles, and completed five strategic acquisitions. Notable transactions included the acquisition of an architecture firm in London, a boutique hotel group in the Mediterranean, and a minority stake in a renewable energy infrastructure platform. The company also strengthened its balance sheet, raising $500 million in long-term debt at favorable rates and maintaining an investment-grade credit rating. TSH Holding's leverage ratio remains conservative at 1.8x net debt to EBITDA, providing significant capacity for future investment.

TSH Holding made significant progress on its environmental, social, and governance commitments in 2025. The company achieved a 28% reduction in operational carbon emissions compared to the 2022 baseline, exceeding its target by 8 percentage points. All new development projects are now required to achieve minimum LEED Gold certification, and the company has committed to achieving net-zero operational emissions by 2040. On the social front, TSH Holding invested $12 million in community development programs across its markets and launched a global diversity, equity, and inclusion initiative that has already increased representation of underrepresented groups in management positions by 15%.

Looking ahead, TSH Holding expects continued momentum across all business sectors. The company has approved a $1.2 billion capital expenditure budget for fiscal 2026, the largest in its history, with significant allocations for expansion into Asian markets, development of new hospitality properties, and increased investment in technology ventures. Management remains confident in the company's ability to deliver sustained growth, supported by a strong balance sheet, a diversified portfolio, and a proven track record of disciplined capital allocation. The full Annual Report is available to stakeholders and includes detailed financial statements, management's discussion and analysis, and comprehensive sustainability disclosures.