Mobimo grows in rental business in 2022
The real estate group was able to increase its rental income last year. However, lower revaluation gains pushed profit below the 2021 level.
Real estate group Mobimo has reported a profit of CHF 135.3 million for the 2022 financial year, down 2.9% on the previous year (139.4 million). Excluding revaluation effects, profit was CHF102.3 million, up from CHF96.3 million a year earlier. Income from revaluation reached CHF 44.3 million - compared to CHF 53.3 million in 2021 (-16.9%).
EBIT decreased from CHF 194.7 million to CHF 181.5 million, or from CHF 141.3 million to CHF 137.2 million excluding revaluation.
Portfolio value increases
Mobimo puts the value of its real estate portfolio at CHF 3.7 billion (previous year: CHF 3.6 billion). While the value of investment properties declined slightly (-0.3%), the value of development projects increased by 22.8% to CHF 587.6 million (previous year: 478.3 million). Mobimo sold two investment properties in St. Erhard (LU) and Dierikon (LU) in the 2022 financial year, generating a gain of CHF 4.0 million.
Rental income increased by 6.6% to CHF 120 million (previous year: CHF 112.5 million). Income from development and sale of promotion (real estate) amounted to CHF 42.4 million and was thus significantly below the previous year's figure (CHF 58.5 million).
Rental income up by more than five percent
Rental income increased from CHF 132.2 million in 2021 to CHF 139.0 million (+5.1%). Reasons for the growth were acquisitions made at the end of 2021 as well as successes in re-letting and marketing new space, Mobimo says. The vacancy rate of the investment portfolio amounts to 4.3% as of December 31, 2022 (previous year: 4.8%).
The real estate company expects annual target rental income of CHF 8.4 million from the three construction projects Manegg and Im Tiergarten in the city of Zurich and Les Jumeaux in the center of Lausanne. A further CHF 1.2 million will be contributed by a residential project in Lausen (BL) with planning permission, which was acquired at the end of 2022, Mobimo said. (ah)
