Mobimo reports a pleasing first half-year

Mobimo Holding AG / Key word(s): Half Year Results Mobimo reports a pleasing first half-year 05-Aug-2022 / 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 reports a pleasing first half-year

• Net rental income rises by 7.4% to CHF 60.0 million.
• Marketing successes reduce vacancy rate of the investment portfolio to 4.6%.
• Construction of development projects progressing according to plan
• Equity ratio increased to 47.8%

Lucerne, 5 August 2022 – Even in a somewhat turbulent environment, Mobimo is able to report a pleasing half-year result. The company's balanced portfolio and attractive development pipeline mean it is well positioned strategically, with operational flexibility thanks to its agile business model and the successful capital increase conducted in April. We can look to the future with optimism.

The operating result (EBIT) came to CHF 81.4 million (prior year: CHF 115.4 million) or CHF 49.8 million (prior year: CHF 95.5 million) excluding revaluation. As a result, profit amounted to CHF 63.5 million (prior year: CHF 83.7 million) including revaluation and CHF 39.1 million (prior year: CHF 67.3 million) excluding revaluation.

The valuation of the Mobimo investment portfolio remained stable, while investment properties under construction in particular contributed to the pleasing CHF 31.5 million net income from revaluation (prior year: CHF 19.9 million). The value of Mobimo's overall portfolio rose to around CHF 3.7 billion (prior year: CHF 3.6 billion).

Higher rental income thanks to strategic purchases

Net rental income as at the reporting date was up 7.4% year on year at CHF 60.0 million (prior year: CHF 55.9 million). The growth in the rental business came from three commercial properties acquired in December 2021 in the cities of Biel, Neuenburg and Freiburg as well as the purchase of the ERNI site in Wangen-Brüttisellen (ZH). Successful marketing also reduced the vacancy rate in our investment portfolio from 4.8% at the end of 2021 to 4.6%.