EQS-Adhoc

Very successful first half-year for Mobimo - Seite 2

spring 2016. The cost/income ratio arising from direct expenses for rented
properties was 15% and higher than the prior year's level (HY 2015: 11%),
which resulted in a 3.5% rise in net rental income to CHF 48.3 million (HY
2015: CHF 46.6 million). As at 30 June 2016, the vacancy rate was 4.9%,
thus remaining at a low level (31 December 2015: 4.7%). One of the measures
aimed at ensuring a high level of tenant satisfaction in the long term is
the complete integration into the Mobimo Group of the FM Service &
Dienstleistungs AG joint venture which was launched in 2014. FM Service &
Dienstleistungs AG provides mainly facility management services for
Mobimo's own properties and their tenants.

Rise in profit from trading properties and development services and the
expansion of Investments for Third Parties
The condominiums conveyed with an impact on profit or loss in the first
half of the year mostly stem from the Am Meggerwald project in Lucerne.
Income from trading properties and development services came to CHF 59.7
million (HY 2015: CHF 17.7 million). As a result, profit from trading
properties and development services rose significantly to CHF 17.0 million
(HY 2015: CHF 1.3 million). The sale of a plot of land on the Mattenhof
site was completed under Investments for Third Parties, and the office
building for 3M EMEA in Langenthal was handed over after the reporting
date, after having been under development and construction for more than
three years. With its acquisition of a two third's interest in BSS&M Real
Estate AG in Zurich with effect from 1 July 2016, Mobimo is further
expanding its development activities for third parties.

Transaction market remaining attractive and net income from revaluation
Ultra-low interest rates continued to give rise to high demand by
institutional investors, particularly for residential properties. Mobimo
was not active as a purchaser in this transaction environment in the first
half of 2016, preferring to use this as an opportunity to dispose of two
investment properties. The sales generated proceeds of CHF 153.2 million
(HY 2015: CHF 76.8 million) and net income of CHF 33.9 million (HY 2015:
CHF 15.8 million). Mobimo's business model enabled it to compensate for
these disposals with reinvestments in developments from its own pipeline.
Properties with a volume of CHF 340 million are currently under
construction, while projects worth around CHF 400 million are being
planned. As a result of market conditions, the average discount rate for
revaluations as at 30 June 2016 declined to 4.04% (31 December 2015: