MOBIMO HOLDING AG Half-Year Report
2023
Result | Unit | HY 2023 | HY 2022 | Change in % | ||||
Net rental income | CHF million | 64.4 | 60.0 | 7.3 | ||||
Profit on development projects and sale of trading properties | CHF million | 9.0 | 3.8 | 134.9 | ||||
Net income from revaluation | CHF million | -9.3 | 31.5 | -129.6 | ||||
Operating result (EBIT) | CHF million | 50.8 | 81.4 | -37.5 | ||||
Operating result (EBIT) excluding revaluation | CHF million | 60.1 | 49.8 | 20.7 | ||||
Profit | CHF million | 34.3 | 63.5 | -46.1 | ||||
Profit excluding revaluation | CHF million | 43.1 | 39.1 | 10.2 | ||||
Balance sheet | Unit | 30.6.2023 | 31.12.2022 | Change in % | ||||
Assets | CHF million | 3,951.2 | 3,855.5 | 2.5 | ||||
Equity | CHF million | 1,863.0 | 1,904.8 | -2.2 | ||||
Equity ratio | % | 47.2 | 49.4 | -4.6 | ||||
Return on equity1 | % | 3.7 | 7.9 | -53.2 | ||||
Return on equity excluding revaluation1 | ||||||||
% | 4.6 | 6.0 | -23.3 | |||||
Interest-bearing liabilities | CHF million | 1,743.0 | 1,609.8 | 8.3 | ||||
Ø Rate of interest on financial liabilities (for the period) | % | 1.21 | 1.00 | 21.0 | ||||
Ø Residual maturity of financial liabilities | years | 5.3 | 5.3 | 0.0 | ||||
Net gearing | % | 87.7 | 83.2 | 5.4 | ||||
Portfolio | Unit | 30.6.2023 | 31.12.2022 | Change in % | ||||
Overall portfolio2 | CHF million | 3,708.4 | 3,700.2 | 0.2 | ||||
Investment properties2 | CHF million | 3,083.4 | 3,112.6 | -0.9 | ||||
Development properties3 | CHF million | 625.0 | 587.6 | 6.4 | ||||
Gross yield from investment properties | % | 4.5 | 4.4 | 2.3 | ||||
Net yield from investment properties | % | 3.6 | 3.5 | 2.9 | ||||
Investment property vacancy rate | % | 4.2 | 4.3 | -2.3 | ||||
Ø Discount rate for revaluation (nominal) | % | 4.0 | 4.0 | 0.0 | ||||
Ø Capitalisation rate (real) | % | 3.0 | 3.0 | 0.0 | ||||
EPRA | Unit | HY 2023 | HY 2022 | Change in % | ||||
EPRA profit | CHF million | 40.6 | 40.4 | 0.7 | ||||
EPRA NAV per share | CHF | 302.19 | 293.86 | 2.8 | ||||
EPRA rental increase like-for-like4 | % | 1.3 | 0.1 | 1,200.0 | ||||
EPRA vacancy rate | % | 4.2 | 4.6 | -8.7 | ||||
Headcount | Unit | 30.6.2023 | 31.12.2022 | Change in % | ||||
Headcount (full-time basis) | Number | 157.5 | 160.0 | -1.6 | ||||
Of which headcount Mobimo FM Service AG (full-time basis) | Number | 39.7 | 39.2 | 1.3 | ||||
Environment | Unit | 2023 | 2022 | Change in % | ||||
Energy intensity5 | kWh/m2 | n/a | 114.6 | nmf | ||||
Emissions intensity5 | kg CO2eq/m2 | n/a | 14.6 | nmf | ||||
Share | Unit | HY 2023 | HY 2022 | Change in % | ||||
Shares outstanding6 | Number | 7,257,459 | 7,260,377 | -0.0 | ||||
Nominal value per share | CHF | 3.40 | 3.40 | 0.0 | ||||
NAV per share (diluted) | CHF | 256.70 | 252.35 | 1.7 | ||||
Earnings per share | CHF | 4.72 | 9.22 | -48.8 | ||||
Earnings per share excluding revaluation | CHF | 5.94 | 5.68 | 4.6 | ||||
Distribution per share7 | CHF | 10.00 | 10.00 | 0.0 | ||||
Share price as at 30.6. | CHF | 241.00 | 232.00 | 3.9 |
1In the half-year report, the return on equity and the return on equity excluding revaluation are both annualised.
2Including owner-occupied properties and including investment properties intended for sale, excluding owner-occupied tenant improvements and excluding right-of-use assets. 3Excluding right-of-use assets.
4The figure is adjusted for special effects. Including special effects 6.7%.
5The environmental key figures are collected and reported half a year later than the financial key figures. Accordingly, the corresponding key figures are not yet available for the 2023 financial year.
6No. of shares issued 7,261,701 less treasury shares 4,242 = no. of outstanding shares 7,257,459.
7Distribution of CHF 10.00 per share for the 2022 financial year in accordance with the resolution of the Annual General Meeting on 11 April 2023.
Contents
Management report
Letter to shareholders | 4 |
Real estate portfolio | 6 |
Financial report
Consolidated interim financial statements | 8 |
Property details | 30 |
Independent auditor's report on the review | 43 |
Report of the independent valuation experts | 44 |
EPRA key performance measures | 49 |
Our profile
With a broadly diversified real estate portfolio that has a total value of approximately CHF 3.7 billion, Mobimo Holding AG is one of the leading real estate companies in Switzerland. Its portfolio comprises residential and commercial properties, along with development properties both for the company's own portfolio and for third parties. The properties are in first-class locations in German-speaking and French-speaking Switzerland.
The buildings are characterised by balanced diversification and diligent management. Mobimo uses its development projects to strengthen its income base and boost the intrinsic value of its portfolio. The company also creates investment opportunities for third parties through its development services.
Mobimo has around 170 employees.
Webguide
Online half-year report | www.mobimo.ch > Investors > Reporting |
Management structure | www.mobimo.ch > About us > BoD/EB |
Portfolio | www.mobimo.ch > Real estate > Portfolio |
Share | www.mobimo.ch > Investors > Share |
Social Media | |
LinkedIn.com > Mobimo Management AG | |
Instagram > @mobimoimmo | |
Our districts and projects | @quartierduflon, @aeschbachquartier, @langenthalmitte, |
@mattenhof_luzernsued, @seehallen |
MANAGEMENT REPORT
3
4
Selected key figures for the first half of 2023
Letter to shareholders
6 Real estate portfolio
Management report
Selected key figures for the first half of 2023
Selected key figures for the first half of 2023
Mobimo strengthens net rental income by a further 7.3% in the first half of 2023. On completion of the properties in Manegg, Tiergarten, and shortly Les Jumeaux, additional rental income will be recognised in the current year.
Profit excluding revaluation | 43.1 |
CHF million | |
HY|2022: 39.1 |
Profit including and excluding revaluation
CHF million
83.7 | |||||||
67.3 | 63.5 | ||||||
43.6 | 28.5 | 41.7 | 21.5 | 39.1 | 34.3 | 43.1 | |
HY|2019 | HY|2020 | HY|2021 | HY|2022 | HY|2023 | |||
Prot | |||||||
Prot excluding revaluation |
Total value of real estate portfolio
CHF million | 3,121 478 3,599 | 3,113 588 3,700 | 3,083 625 3,708 | |
2,600 698 3,298 | 2,845 509 3,353 | |||
31.12. | 31.12. | 31.12. | 31.12. | 30.6. |
2019 | 2020 | 2021 | 2022 | 2023 |
Development properties Investment properties
Rental and net rental income and vacancy rate
CHF million/%
60.9 | 52.2 | 60.1 | 52.0 | 64.9 | 55.9 | 69.3 | 60.0 | 73.7 | 64.4 |
5.5 | |||||||||
5.0 | |||||||||
4.3 | 4.6 | ||||||||
4.2 | |||||||||
HY|2019 | HY|2020 | HY|2021 | HY|2022 | HY|2023 |
Rental income Net rental income Vacancy rate
Earnings per share including and excluding revaluation
CHF | |||||||
12.54 | |||||||
10.08 | 9.22 | ||||||
6.53 | 4.26 | 6.25 | 3.22 | 5.68 | 4.72 | 5.94 | |
HY|2019 | HY|2020 | HY|2021 | HY|2022 | HY|2023 |
Income and profit from development projects and sale of trading properties
CHF million
118.3 | ||||||||
33.5 | 2.4 | 25.1 | 2.7 | 54.4 | 29.1 | 3.8 | 21.2 | 9.0 |
HY|2019 | HY|2020 | HY|2021 | HY|2022 | HY|2023 |
Earnings per share | Income |
Earnings per share excluding revaluation | Prot |
As a result of rounding, the sums and totals of individual positions may be larger or smaller than the sums and totals arrived at by adding the positions together, or larger or smaller than 100%.
The "Definition of Alternative Performance Measures" document, available at www.mobimo.ch > Investors > Investor services > Glossary, includes definitions of performance measures that are not defined under IFRS, EPRA, SIA (Swiss Society of Engineers and Architects) standard D 0213, Corporate Governance Best Practice Recommendations or other standards.
Mobimo Half-Year Report 2023 | 3 |
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Disclaimer
Mobimo Holding AG published this content on 04 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 August 2023 05:02:12 UTC.
