Mobimo achieves operating targets for 2023 with solid result

Mobimo Holding AG / Key word(s): Annual Results/Sustainability Mobimo achieves operating targets for 2023 with solid result 09-Feb-2024 / 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 achieves operating targets for 2023 with solid result

 

• Net rental income rises significantly to CHF 125.7 million – an increase of 4.7% on the previous year (CHF 120.0 million), largely driven by the successful completion of the major Manegg and Tiergarten development projects in Zurich.
• For the first time, there was a slight year-on-year depreciation in the value of investment properties, primarily commercial properties. However, the moderate change in value of -1.5% reflects the quality of the broadly diversified portfolio.
• Increase in energy-consuming space with sustainability certificate by 60% compared to the previous year. Further reduction in energy and emissions intensity.
• The election of Dr. Markus Schürch to the Board of Directors will be proposed to the Annual General Meeting. Daniel Crausaz will not be running for re-election. The renewal process on the Board of Directors will continue over the next few years.

 

Lucerne, 9 February 2024 – Mobimo looks back on an operationally gratifying year in 2023. The economic environment, marked by inflation and interest rate volatility, was challenging for the real estate market. Nevertheless, the operating targets communicated at the beginning of the year were achieved. The positive drivers behind the 2023 results were the increase in rental income, the realisation of development profits through the successful sale of projects and condominiums, and protecting the equity base.