Mobimo reports profit increase
Mobimo Holding reports a profit of CHF 43.5 million for the first half of 2019 after CHF 37.9 million in the same period of the previous year.
Mobimo also announced that it generated CHF 60.9 million in the reporting period - an increase of 11% compared to the previous year. The vacancy rate for the entire portfolio fell from 5.1% (30.06.2018) to 4.3%.
The revaluation gain amounted to 18.8 million. EBIT fell from 57.3 million to 55.4 million in the reporting period. Excluding revaluation, the real estate company achieved EBIT of 36.6 million after 39.6 million in the same period of the previous year.
According to the company, the profit attributable to shareholders including revaluation amounted to 43.6 million (previous year: 37.6 million), excluding revaluation to 28.5 million (previous year: 24.4 million). According to Mobimo, the profit includes a positive one-off effect in the area of deferred taxes.
According to the company, the value of Mobimo's total portfolio amounted to just under 3.2 billion as at June 30, 2019. This compares to 3.1 billion as at December 31, 2018. The average gross return on the investment portfolio remains at 4.6%.
In view of a full pipeline for its own portfolio with an investment volume of around 710 million, Mobimo expects growth in target rental income of a good 10% compared to the end of 2018, excluding any sales. The company also expects a substantial increase in the earnings contribution from development activities for third parties in the second half of 2019. (ah)
