Mobimo increases rental income by 7.4%

Mobimo's operating result (Ebit) fell to CHF 81.4 million in H1 (H1 2021: CHF 115.4 million.), while net profit declined from CHF 83.7 to 63.5 million. While income from rentals was up 7.4% year-on-year at CHF 60.9 million, the contribution to earnings from developments fell sharply, as expected. It amounted to CHF 3.8 million, down from CHF 54.4 million in the previous year, which was characterized by the sale of a major project.

The increase in rental income is due to acquisitions at the end of 2021 and a vacancy reduction from 4.8% to 4.6% at the end of 2021. The valuation level of Mobimo's investment portfolio remained stable, while investment properties under construction in particular contributed to the pleasing revaluation income of CHF 31.5 million (previous year CHF 19.9 million). The value of Mobimo's total portfolio increased from CHF 3.6 billion to around CHF 3.7 billion.

Mobimo currently has a condominium pipeline of 14 projects with a total project volume of CHF 640 million. This now includes a residential property with development potential not far from Lausanne station. For institutional investors, Mobimo is currently developing six projects with an investment volume of CHF 370 million.

"No pronounced unrest around market"

Even after the interest rate hike by the Swiss National Bank and ahead of further monetary policy interventions, the company does not sense "any pronounced unrest in the market so far". Only in the transaction business has there been a "certain restraint". This is "reminiscent to a certain extent of the pause in the pandemic spring of 2020." The company is very confident about the further development of the portfolio, the projects and Mobimo in general. (aw)