Mobimo posts profit increase
Mobimo Holding AG achieved strong growth in operating profit in the first half of 2024. A significant sales gain and successes in the rental and development sectors contributed to a substantial increase in company profit.
Mobimo Holding AG achieved an operating result at EBIT level including revaluations of CHF 83.3 million in the first half of 2024, the Lucerne-based real estate company announced in a press release. This corresponds to a year-on-year increase of 63.9 percent. Excluding revaluations, EBIT rose from CHF 60.1 million to CHF 61.3 million. Mobimo attributes this positive development to consistently strong rental success and a strengthened development and promotion business.
At CHF 65.6 million, net profit including revaluations was 91.5 percent higher than in the same period of the previous year. This was due to a gain from the sale of a non-consolidated stake in Parking Saint-Francois SA in Lausanne. Excluding revaluations, profit increased year-on-year from CHF 43.1 million to CHF 47.8 million.
At 62.5 million, rental income was 3.0 percent below the previous year’s figure. Excluding special effects of CHF 3 million recognized in the first half of 2023, however, rental income increased by 2.5 percent, Mobimo explains. This leads to growth in net rental income of 2.0 percent on an adjusted basis.
The value of the real estate portfolio amounted to CHF 3.7 billion at the end of June, compared with CHF 3.6 billion at the end of 2023. In July, Mobimo also acquired six buildings with a total of 41 apartments in Dielsdorf ZH from an institutional investor.