Rental income increased by 6.3% due to rent increases and special effects.
Completion of investment properties under construction will be reflected in rental income mainly from the 2nd half of the year.
First-timereference interest rate adjustment for residential rents will have an impact on rental income towards the end of the year.
The vacancy rate in the investment portfolio was reduced to 4.2% (4.3% as at 31 December 2022).
Positive response to condominiums / slight correction in property values
In the "Aura" condominium project in
Horgen, 35 of the 37 apartments have already been notarised. These will be handed over to the buyers in mid- 2024.
The sale of the Oberägeri "Edenblick" condominium project has started promisingly.
There was an overall devaluation of CHF 9.3 million on the investment properties. This moderate change in value of -0.27% reflects the quality of the portfolio.
Continuing solid financing
First issue of a CHF 100 million green bond with a coupon of 2.625% and a term of six years.
The average interest rate for financial liabilities was 1.2% in the first half of 2023 (1.0% in the 2022 financial year) and average residual maturity was 5.3 years (5.3 years in the 2022 financial year).
Half-Year Results 2023
3
Overview of the first half of 2023
Financial key figures for the first half of 2023
Real estate portfolio and pipeline
Sustainability
Focus 2023
Zurich,
Manegg
Financial key figures for the first half of 2023
Key income statement figures I
CHF million
HY|2022
HY|2023
Δ y-o-y %
Net rental income
60.0
64.4
7.3
Profit on development projects and sale of trading properties
3.8
9.0
134.9
Net income from revaluation
31.5
-9.3
-129.6
Profit on disposal of investment properties
0.0
0.7
nmf
Personnel, operating and administrative expenses1
-16.0
-16.4
2.3
EBIT
81.4
50.8
-37.5
EBIT excluding revaluation
49.8
60.1
20.7
Financial result
-7.8
-9.5
20.8
Tax expense
-11.5
-8.6
-25.2
Profit
63.5
34.3
-46.1
Profit excluding revaluation
39.1
43.1
10.2
1 Capitalised own-account services are netted against personnel, operating and adminstrative expenses in the figures presented here.
Half-Year Results 2023
5
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Mobimo Holding AG published this content on 04 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 August 2023 05:02:12 UTC.
Mobimo Holding AG is a Swiss holding company engaged in the real estate sector. The Company diversifies its activities into two business divisions: Portfolio Management and Development. The Portfolio Management business division focuses on the long-term holding and managing of commercial and residential properties. The division also is engaged in the buying and selling of investment properties. The Development division is responsible for purchasing land as well as for the construction and sale of residential property. It also holds land, properties under construction and completed properties which are to be included in the investment property portfolio. The Company is active exclusively in Switzerland. The Company's acquisitions and investments are targeted mainly in the business centers of Zuerich, Lausanne/Geneva, Basel, Lucerne/Zug, Aarau and St. Gall. It also operates a number of Switzerland-based subsidiaries.
MOBIMO HOLDING AG 
