Mobimo makes record profit

Mobimo reports a net profit of CHF 105 million for the 2015 financial year. This is a significant increase on 2014, when profit amounted to CHF 63.2 million. At the same time, it is the best result in the company's history to date, according to Mobimo.

Mobimo meldet für das Geschäftsjahr 2015 einen Rekordgewinn (Foto: Pixabay)
Mobimo reports record profit for the 2015 financial year (Photo: Pixabay)

The profit including revaluation is CHF 105 million, before revaluation the profit is CHF 78.6 million - both figures are a new high according to the company. EBIT rose by 74.6% to CHF 170.4 million (previous year: CHF 97.6 million).

Mobimo cites higher income from rentals and revaluation as well as a very good result from the sale of individual investment properties as the main reasons for the good performance.

The revaluation of investment properties and investment properties under construction resulted in income from revaluation of CHF 34.7 million (previous year: CHF 3.8 million).

Rental income increased by 2.6% to CHF 107.8 million (previous year: CHF 105.1 million) and net rental income by 7.4% to CHF 94.1 million (previous year: CHF 87.6 million). In addition to the increase in income, this was due to the lower expense ratio for direct rental expenses and the lower vacancy rate of 4.7% as at December 31, 2015 (previous year: 5.4%) compared to the previous year.

Mobimo took advantage of the current market situation to sell investment properties at a lucrative price. The sales generated proceeds of CHF 236.8 million (previous year: CHF 69 million) and a profit of CHF 63.8 million (previous year: CHF 4.9 million). Mobimo announced that it would continue to examine the sale of selected self-developed properties if there was an opportunity to invest the funds released in new, higher-yielding projects.

The Group's equity ratio at the end of the year was 42.8% (previous year: 44.2%), while the financing costs of 2.46% were once again below the previous year's already low rate (2.51%).

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