Mobimo achieves operating targets for 2023 with solid result - Seite 2

 

The operating result (EBIT) for 2023 was CHF 127.0 million excluding revaluation (prior year: CHF 137.2 million) or CHF 77.0 million including revaluation (prior year: CHF 181.5 million). Net profit came in at CHF 90.0 million excluding revaluation (prior year: CHF 102.3 million) or CHF 46.6 million including revaluation (prior year: CHF 135.3 million). This equates to earnings per share excluding revaluation of CHF 12.40 (prior year: CHF 14.39). The Board of Directors will propose an unchanged dividend of CHF 10.00 per share at the General Meeting on 26 March 2024, in a continuation of its consistent distribution policy.

 

New builds deliver growth in rental income

Mobimo was able to further increase its rental income and its rental income base in the year under review. Rental income for 2023 was CHF 125.7 million, which is significantly higher than in the prior year (CHF 120.0 million), up 4.7%. This increase was largely due to the completion of the two major development projects Zurich, Manegg and Zurich, Tiergarten. On the other hand, there were effects from higher rents in the portfolio and some one-off effects in commercial properties.

 

Rents will continue to be adjusted where contracts allow. Commercial rents, which are predominantly indexed, were adjusted for inflation, and the increases in the reference interest rate announced on 1 June and 1 December 2023 were fed into or replicated in residential rents. The main effect of the rent increases in the residential segment will not become apparent until the 2024 financial year due to the time lag. Mobimo will continue to strengthen rental income for the long term through active, market-oriented contract management across the entire portfolio. The vacancy rate as at the reporting date was low, at 4.1% (prior year: 4.3%). Strengthening the earnings base is all the more important now that the financing costs have risen by around 25% to CHF 20.5 million due to higher interest rates (prior year: CHF 16.3 million).