EQS-Adhoc Mobimo Holding AG: A challenging but successful financial year
EQS Group-Ad-hoc: Mobimo Holding AG / Key word(s): Annual Results
A challenging but successful financial year
›› Despite portfolio growth, net rental income was down slightly year on year as a consequence of coronavirus, at CHF 105.1
million versus CHF 106.7 million in 2019
›› Support measures for tenants in the catering, hotel and retail sectors came to CHF 6.5 million
›› Healthy profit on development projects and sale of trading properties of CHF 36.8 million (prior year: CHF 3.0 million)
Lucerne/Küsnacht, 5 February 2021 - Mobimo can look back on a challenging but nevertheless successful 2020. Net income from revaluation was CHF 34.3 million, reflecting to a large extent the value added by Mobimo's own development activities. Profit came in at a solid CHF 96.6 million.
Like everyone else, Mobimo's year was dominated by the coronavirus pandemic, and the company devoted a great deal of attention to protecting employees' health, supporting commercial tenants affected by government measures and adapting to the new ways of cooperating and interacting. Thanks to its high level of digitalisation, diversified real estate portfolio and agile business model, Mobimo's annual results are pleasing on many levels despite the impact of the coronavirus crisis.
Mobimo recorded EBIT of CHF 145.8 million (prior year: CHF 134.0 million), or CHF 111.5 million excluding revaluation (prior year: CHF 82.5 million). The company recorded profit attributable to the shareholders of Mobimo Holding AG of CHF 96.6 million (prior year: CHF 103.2 million) including revaluation and CHF 69.7 million (prior year: CHF 61.7 million) excluding revaluation. Earnings per share excluding revaluation were CHF 10.56. The Board of Directors will once again propose a distribution of CHF 10.00 per share to the Annual General Meeting on 30 March 2021, in the form of a nominal value repayment.