March 6, 2012

Mobimo produces record result - profit up 22% to CHF 80.5 million

Mobimo Holding AG  / Key word(s): Final Results

06.03.2012 06:50

Release of an ad hoc announcement pursuant to Art. 53 KR
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P r e s s  r e l e a s e


Mobimo produces record result - profit up 22% to CHF 80.5 million

* Operating result (EBIT) up by 18% to CHF 121.1 million
* Good results across the board
* Rental income stable and vacancy rate down to 3.3% 
* Full project pipeline - basis for more growth
* Dividend of CHF 9.00 per share proposed again

Lucerne, 6 March 2012 - Mobimo Holding AG ('Mobimo') posted a record result
for the 2011 financial year. EBIT rose by 18% to CHF 121.1 million (2010:
CHF 102.2 million) and net profit increased by 22% to CHF 80.5 million
(2010: CHF 66.0 million). Earnings per share of CHF 15.46 (2010: CHF 13.01)
- or earnings per share prior to revaluation of CHF 9.53 (2010: CHF 8.70) -
allow Mobimo to once again propose a distribution to shareholders of CHF
9.00 per share.

Growth strategy continues to be successful
Mobimo completed several construction projects in the year under review,
improved the quality of its investment portfolio and, in completing the
Mobimo Tower, reached another milestone in the company's history. This
dynamic activity led to net income from revalua-tions of CHF 41.2 million
(2010: CHF 29.1 million).

Proceeds from the sale of condominiums (trading property) rose to CHF 22.3
million (2010: CHF 8.4 million). In all, apartments were sold for CHF 133.0
million.

Although net rental income was virtually unchanged at CHF 76.0 million
(2010: CHF 79.2 million), the quality of the rental income was
significantly higher. The reduction in rental receipts resulting from
extensive sales of investment properties was largely offset by new rental
income from the development of real estate for the company's own portfolio.
The investment properties completed in 2011 offer potential rental income
of around CHF 16.5 million per year.

A total of eight properties were sold for CHF 89.6 million in the year
under review, yielding a net profit of CHF 2.5 million. The related
optimisation of the portfolio and the strong demand for rental space led to
a very low vacancy rate in the investment portfolio of 3.3% (2010: 5.1%).

The real estate portfolio reported a total value of CHF 2,171.2 million
(2010: CHF 2,011.9 million) as of the reporting date of 31 December 2011,
of which CHF 1,468.6 million (2010: CHF 1,334.7 million) related to
investment properties and CHF 702.6 million (2010: CHF 677.2 million) to
development projects.

 
Attractive project pipeline
The targeted development of attractive residential and commercial
properties ensures that Mobimo will continue to grow. Properties destined
for the company's own investment portfo-lio with an investment volume of
around CHF 340 million are currently under construction or close to
completion. These additions will generate further potential rental income
of around CHF 19.4 million a year. There are plans for more projects for
the company's own portfolio with an investment volume of around CHF 660
million. The most significant building projects include those at Torfeld
Süd in Aarau, La Poste in Lausanne, Am Pfingstweidpark in Zurich, the
Labitzke site in Zurich acquired in 2011, and the newbuild of an apartment
complex in Regensdorf.

Within condominium business, projects with a value of CHF 270 million are
under construc-tion, and further projects with a value of CHF 330 million
are at the planning stage.

Mobimo's development expertise is appreciated in the market. Not only did
it lead to Mobi-mo acquiring new promising projects, but it also prompted
the company to decide to offer institutional and private investors
development services of all kinds, including turnkey in-vestments, in its
new 'Third-Party Investments' business area, starting on 1 January 2012.

Solid financing and a high equity ratio
Mobimo succeeded in noticeably lengthening the average residual term of its
financial liabil-ities from 5.1 to 9.2 years at extremely advantageous
conditions.

Around CHF 193 million of new own funds flowed into the company in December
2011 as a result of a successful capital increase. The equity ratio at
year-end stood at a solid 47%.

Shares producing good returns
Mobimo shares closed at a price of CHF 208.00 on 31 December 2011: this
equates to a total performance of 10% when the dividend of CHF 9.00 per
share is included.

Dividend proposal
The company's good annual result enables it to continue with its
shareholder-friendly divi-dend policy. The Board of Directors will propose
to the General Meeting to be held on 18 April 2012 that it once again
approve a distribution of CHF 9 per share (tax-efficient for Swiss
shareholders with shares held as part of their personal assets).

Outlook for 2012
Mobimo is confident about the new financial year despite the challenging
economic envi-ronment. It will focus on realising its various building
projects, marketing space, selling con-dominiums and selectively adding to
the project pipeline.

 
Detailed reporting
You can find the Annual Report 2011 on our website at Investor Relations /
Reporting or on the homepage at www.mobimo.ch.
(Link: http://ir.mobimo.ch/websites/mobimo2011/English/40/reporting.html) 


Telephone conference for analysts and media today at 2.00 p.m.
A telephone conference for analysts and the media will be held today at
2.00 p.m. (in Eng-lish). Dr. Christoph Caviezel (CEO) and Manuel Itten
(CFO) will be presenting the results and will be available to answer
questions. Registration is not required.
Telephone no.: +41 22 592 73 12 / conference ID: 4517188
You can view the associated PowerPoint presentation on the homepage at
www.mobimo.ch.



For enquiries please contact:
Mobimo Holding AG
Dr. Christoph Caviezel, CEO
Manuel Itten, CFO
+41 44 397 11 86
ir@mobimo.ch
www.mobimo.ch


About Mobimo
Mobimo Holding AG was established in Lucerne in 1999 and has been listed on
the SIX Swiss Ex-change since 2005. The Mobimo Group has an attractive
portfolio mix of investment properties providing stable income and
development properties offering extensive value enhancement potential.
Investments are targeted mainly in the promising locations of Zurich and
Lausanne/Geneva and in the economic regions of Basel, Lucerne/Zug, Aarau
and St. Gallen. With a property portfolio that has an overall value of just
under CHF 2.2 billion, Mobimo is one of the leading real estate companies
in Switzerland. The portfolio contains development properties with an
investment volume of more than CHF 1 billion up to 2015 (as at 31 December
2011).


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