Mobimo Holding AG

Half-Year Results 2023

Mobimo Holding AG / Key word(s): Half Year Results Mobimo Holding AG: Half-Year Results 2023 04-Aug-2023 / 07:00 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement. Ad hoc announcement pursuant to Art. 53 LR

 

Mobimo with a solid operating result in the first half of 2023 

• Net rental income increases significantly to CHF 64.4 million – an increase of 7.3% compared with the previous year (CHF 60.0 million).
• Slight devaluation of CHF -9.3 million on investment properties for the first time. This moderate change in value of -0.27% reflects the quality of the broadly diversified portfolio.
• Good demand for the condominium projects Aura in Horgen and Edenblick in Oberägeri.
• Successful completion of the Manegg and Tiergarten projects in Zurich and soon Les Jumeaux in Lausanne, additional rental income in the second half of the year will be recognised.

Lucerne, 4 August 2023 – Mobimo posts a solid operating result for the first half of 2023. It’s the result of the strategy of progressively expanding rental income and pursuing a sustainable long-term finance policy. Mobimo is on target to achieve the objects 2023 communicated at the beginning of the year.

The operating result (EBIT) in the first half of 2023 was CHF 60.1 million (prior year: CHF 49.8 million), or CHF 50.8 million (prior year: CHF 81.4 million) including revaluation. This resulted in profit of CHF 43.1 million (prior year: CHF 39.1 million) excluding revaluation, and CHF 34.3 million (prior year: CHF 63.5 million) including revaluation.

The quality of the properties in the portfolio made it possible to continue the increase in rental income. And with the flexible business model that supplements secure earnings from investment properties with an attractive development pipeline, it was possible to keep changes in market value within narrow limits. The transaction prices noted by the valuers were incorporated in estimates of the market value of the portfolio; their total effect was a slight devaluation of 0.27% overall.