August 6, 2015

Successful first half-year for Mobimo

EQS Group-Ad-hoc: Mobimo Holding AG / Key word(s): Half Year Results

2015-08-06 / 06:50
Release of an ad hoc announcement pursuant to Art. 53 KR.
The issuer is solely responsible for the content of this announcement.


P r e s s   r e l e a s e

Successful first half-year for Mobimo
* Net profit in the first half of 2015 up significantly versus the
prior-year period at CHF 35.8 million
* Increase in rental income in the first half of the year to CHF 52.6
* Fall in vacancy rate to 5.1%
* Positive outlook for the whole of the 2015 financial year

Lucerne, 6 August 2015 - Mobimo got off to a good start in financial year
2015. The profit attributable to the shareholders of Mobimo Holding AG
including revaluation of CHF 35.6 million (CHF 28.4 million before
revaluation) in the first half-year remains at a high level in comparison
to previous years. Rental income increased as planned, and the sale of
condominiums and the services provided in third-party business are on
track. The renewed fall in interest rates at the start of the year
triggered high demand for real estate investments, particularly for
residential property. This led to the sale of three investment properties,
which made a further positive contribution to the excellent half-year
results, with the main aim of rein- vesting the proceeds in realising
high-yielding properties in our existing development pipeline.

Mixed outlook in the real estate market
The influx of immigrants continues to ensure a high demand for rental
apartments in agglomerations, which has a positive impact on our
residential investment properties. The discontinuation of the CHF/EUR
exchange rate floor has not yet had a direct impact on commercial and
retail rents; however, there has been a measure of restraint evident among
market participants in terms of new rentals and relettings. Although the
Swiss retail sector is being hit by a huge decline in sales, some
distinctions have to be made in the market - Mobimo has retail space,
mainly in the Le Flon district of Lausanne, which provides excellent
potential to continue to develop soundly in the future thanks to an
attractive portfolio mix of residential, office, commercial, catering and
retail. Interest in condominium ownership continues to be strong,
particularly in properties in the mid-price segment. The volatility of
shares in the real estate sector - even those of Mobimo - reflects a vague
sense of uncertainty that we have not been able to determine in the real
estate market. Political activities such as the announced consultation on
the tightening of Lex Koller are, however, not helping to increase

Proven business model in a challenging environment 
The Mobimo business model is proving its worth in today's challenging
environment. The persistently high demand for residential investment
properties has resulted in a renewed downturn in yields. Mobimo has used
this as an opportunity to sell three properties: Horgen, Seestrasse 43 - 49
(residential), Horgen, Seestrasse 63 - 69 (residential) and Bülach,
Bahnhofstrasse 39 (office/commercial). In the case of persistently strong
demand, we will review whether to sell additional selected properties.

Construction and development going according to plan
In the first half-year, we completed three residential complexes - Petit
Mont-Riond in Lausanne, Sonnenhof in Regensdorf (Zurich) and Gusto in
Meilen - and handed the properties over to the respective tenants and
buyers. Once the groundwork had been completed, preparations were also able
to begin on the civil engineering work on the Labitzke site in Zurich.
Planning applications have been submitted for properties including for Site
2 in Aarau, and those for the first projects in the Mattenhof development
in Kriens. In April, the foundation was laid for the approximate 90
apartments being built on Site 4 of the planned Aeschbach Quartier Aarau.

Increasing rental income and lower vacancy rate in the investment portfolio
Rental income rose from CHF 50.9 million in the first half-year 2014 to CHF
52.6 million and the vacancy rate fell as expected from 5.4 % as at 31
December 2014 to 5.1%. As part of a joint venture, Mobimo has started to
offer facility management services for commercial properties in the Zurich
area. The main aim is to improve customer retention and identify the needs
of tenants at an even earlier stage.

More condominium ownership transfers
In the first half-year, most of the transfers in condominium ownership
related to the properties in Meilen and in Zurich, Badenerstrasse. This
generated income of CHF 17.7 million and was thus above the previous year's
level (first half-year 2014: CHF 9.4 million). Property sales also
progressed soundly, with our projects in Regensdorf and Aarau - involving
137 condominiums - enjoying a high level of demand. This is despite the
constant tightening of mortgage requirements, which is making it difficult
for people to buy property, particularly young families.

Changes to the Board of Directors and Management Board 
At  the  Annual  General  Meeting  at  the  end  of  March,  Peter
Barandun, CEO and Chairman of the Board of Directors of Electrolux
(Schweiz) AG, was elected as the successor on the Board of Directors to
Paul Rambert, who had reached retirement age. On 1 April 2015, Marc Pointet
was appointed to the Mobimo Management Board in his role as Head of Mobimo
Suisse Romande. This appointment was just one of many actions that
emphasises the importance of Western Switzerland to the Mobimo Group.
Solid financing and share performance
The Group continues to have extremely solid foundations, with an equity
ratio of a comfortable 44 % at mid-year and financing costs at the previous
year's level.
The Mobimo share reached a new record high of CHF 229.40 at the end of
March 2015. Following payment  of  a  dividend  of CHF 9.50, it was trading
at CHF 190.50 on 30 June 2015, which is the same level as at the  end  of 
2014  (31  December  2014: CHF 199.20).

Mobimo's three-pillar business model is proving its worth in the demanding
market environment. This gives the Board of Directors and Management Board
cause to continue to assess the outlook for the Group's future as being
very positive. Thanks to the good half-year results, it is already likely
that we will continue our attractive dividend policy.

Detailed reporting
You can find the report on the first half of 2015 on our website under Investor Relations / Reporting or on the homepage.

Telephone conference for analysts and media representatives today at 10.00
Mobimo Holding AG invites you to join a conference call in German about the
results for the first half of 2015. Christoph Caviezel (CEO) and Manuel
Itten (CFO) will present the results and will be available to answer any
questions. Registration is not necessary.

Date:   6 August 2015
Time:   10.00 a.m. (CET)
Dial-in number: +41 (0) 44 580 72 15
or freephone   0800 345 603
Conference ID: 5116181

The accompanying PowerPoint presentation can be viewed via the home page at
We would also like to inform you that a conference call in English will
take place at
2.00 p.m. on the same day (Dial-in number: +41 (0) 44 580 72 19 /
conference ID: 7012953).

If you have any questions, please contact: 
Mobimo Holding AG
Christoph Caviezel, CEO
Manuel Itten, CFO
+41 44 397 11 86

About Mobimo
Mobimo Holding AG was established in Lucerne in 1999 and has been listed on
the SIX Swiss Exchange since 2005. The Mobimo Group has an attractive
portfolio mix of investment properties offering steady returns and
development properties with significant appreciation
potential. Investments are made in promising locations, primarily in the
economic areas of Zurich and Lausanne/Geneva, together with those of Basel,
Lucerne/Zug, Aarau and St. Gallen. With a total property portfolio of
around CHF 2.5 billion, Mobimo is one of the leading real estate companies
in Switzerland. The pipeline includes development properties for the
company's own portfolio with an investment volume of CHF 0.9 billion (as at
30 June 2015).

End of ad hoc announcement


2015-08-06 News transmitted by EQS Schweiz AG. - news

The issuer is responsible for the contents of the release.


383917 2015-08-06  

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