Ad hoc announcement pursuant to Art. 53 LR

 Mobimo reports strong first half of 2025 and significant increase in profit

• Net rental income remained constant at CHF 72.6 million – on a like-for-like basis, this resulted in encouraging growth of 2.2%.
• Net income from development projects and sale of trading properties once again increased significantly to CHF 24.9 million – roughly doubling compared to the prior year.
• The high quality of properties brings net appreciation of the real estate portfolio of CHF 71.6 million – with the overall portfolio growing to CHF 3.9 billion.

Lucerne, 8 August 2025 – Mobimo’s operating result for the first half of 2025 was considerably higher than the same period in the prior year. Net income from development projects and sale of trading properties once again increased significantly, making a substantial contribution to the overall result. Net rental income remained constant and the next growth step in Mobimo’s rental income base is being put into action. The solid financing situation will enable further growth.

The operating business was successful in the first half of 2025. The operating result (EBIT) came in at CHF 144.5 million including revaluation in the first half of 2025 (prior year: CHF 83.3 million) or CHF 73.0 million (prior year: CHF 61.3 million) excluding revaluation. As a result, profit amounted to CHF 109.7 million including revaluation (prior year: CHF 65.6 million) or CHF 51.5 million (prior year: CHF 47.8 million) excluding revaluation. Funds from operations I (FFO I) increased to CHF 59.7 million (prior year: CHF 46.2 million).

The outstanding quality of the properties in the portfolio is reflected in the positive momentum of the real estate market. Net income from revaluation is CHF 71.6 million (prior year: CHF 22.0 million). Once again, valuation gains in the residential portfolio contributed considerably to the valuation result. At the same time, commercial properties also contributed around a quarter to the valuation result. This is largely due to ongoing market and interest rate developments, which led to a reduction in the underlying discount rates. The total value of the real estate portfolio increased to CHF 3.9 billion as at the balance sheet date on 30 June 2025 (31 December 2024: CHF 3.8 billion).

Pleasing like-for-like growth in net rental income

Net rental income remained constant at CHF 72.6 million (prior year: CHF 72.5 million). On a like-for-like basis, rental income rose by an encouraging 2.2% (prior year: 2.0%). This demonstrates the impact of the second reference interest rate increase in 2023, which came into full effect for the first time in the first half of 2025. The reduction in the reference interest rate to 1.5% in March 2025 will have a slightly negative impact on rental income from the second half of 2025. As at 30 June 2025, the vacancy rate was 3.9% (31 December 2024: 3.7%) and is within the normal range for periodic fluctuations.

Mobimo is making an active contribution to creating more living space and will continue gradually investing in the residential segment in the coming years. The Board of Directors has adjusted the Mobimo Holding AG investment guidelines to account for the growing share of residential buildings. Up to 50% of income may now come from residential properties.

Foundation laid for further rental income growth

The two residential buildings under construction on the Scholer site in Lausen (Basel-Landschaft) have been fully let since mid-July. Final fit-out work on the 65 apartments is proceeding according to plan, and handover will take place in October and November 2025. The construction projects Hofhaus (courtyard building) and Hallenhaus (hall building) in the Aeschbachquartier in Aarau are also on schedule. This will create 126 attractive rental properties, and the resulting rental income is expected to be recognised through profit or loss in the second half of 2026. The final stage of construction in the Aeschbachquartier is now also underway, with the demolition and dismantling work taking place on Nordbau (Aarau, Industriestrasse 28). A further 122 apartments will be built by the second half of 2028. A total of CHF 42 million was invested in the portfolio in the first half of the year.

Following the modernisation and repositioning of the Office Tower at Escher-Wyss-Platz in Zurich for flexible multi-tenant use, further rental agreements were concluded in the first half of the year. This means that around a quarter of the space has now been let. Naturally, however, re-letting such a large space takes time. Mobimo firmly believes in the qualities and long-term success of this building.

Strong trading properties business

Net income from development projects and the sale of trading properties saw yet another significant rise of 90.5% to CHF 24.6 million (prior year: CHF 12.9 million). This pleasing result was driven by unabated demand for residential property coupled with the high quality of Mobimo developments in terms of location, architecture and finishings.

In the Edenblick project in Oberägeri, buyers have been found for all 90 apartments. The first three of ten buildings will be completed in the fourth quarter of 2025, with completion of the entire complex scheduled for spring 2026. Commercialisation of the Burgmatt project in Merlischachen is also progressing very well. Of the 79 units, 51 have already been allocated and the notarisation process has started. In the Feuerfalter project in Niederwangen/Köniz, 65 condominiums covered by building law are being built as part of one of the first plus energy neighbourhoods in the canton of Berne. In this development, which is a model of sustainability, 60 apartments have already been notarised or reserved. The experiences with Mobimo’s first condominium project in French-speaking Switzerland have been positive too. Commercialisation of the Beaumont project in Lausanne began last December. In the first half of the year, 9 of the 19 apartments were notarised or reserved.

The largest section of land for the Langenthal Mitte project (which is planned as a development for third parties), the former Geiser industrial site, has now been acquired. Mobimo is planning to develop a vibrant district in several phases right next to the railway station, including a residential high-rise with 93 apartments. With regard to condominiums, a plot of land in the Chailly district of Lausanne has been purchased for a project with around 12 apartments.

The small residential property at Rue de Photographes 12 in Geneva was sold to a private investor in January 2025 as part of our efforts to streamline our portfolio. The Dietikon, Schöneggstrasse development project was sold to an institutional buyer too, shortly after the balance sheet date.

Solid financing situation as a foundation for growth

With an equity ratio of 47.4% as at 30 June 2025 (31 December 2024: 48.3%) and an EPRA loan-to-value ratio of 43.2% (31 December 2024: 42.2%), Mobimo’s balance sheet remains strong and the company’s financing remains sustainable. Total assets exceeded the four billion mark for the first time (CHF 4,128.5 million). Mobimo’s inclusion in STOXX Europe 600 in June 2025 is further proof of this growth. This stock index is made up of the 600 largest European companies and is a European benchmark index.

Acquisition of an attractive residential portfolio in the city and canton of Zurich

Mobimo is taking advantage of the positive market sentiment to complete a substantial external growth step alongside continuous organic growth. On 7 August 2025, the contract was signed to acquire the portfolio of EMWE Immobilien AG. The portfolio consists of five residential properties with annual rental income of around CHF 3 million, not to mention three residential properties under construction with expected annual rental income of around CHF 3.5 million. It is the ideal complement to Mobimo’s existing portfolio and boasts high quality in terms of the buildings and location alike. (See separate ad hoc announcement dated 8 August 2025.)

Outlook

In the second half of the year, Mobimo is confident that it will reach the targets for 2025 communicated at the start of the year, or even exceed them thanks to the encouraging performance of the trading properties business plus the additional rental income from the acquisition. At the same time, Mobimo is demonstrating unchanged cost discipline and has its spending under control.


Detailed reporting:

›› You can see the 2025 Half-Year Report here.
›› Analysts and press conference on the 2025 half-year results:

Daniel Ducrey (CEO) and Jörg Brunner (CFO) will present the results (in German). The conference can be followed live as a web stream (audio only) via the following link (registration required). It will also be possible to ask questions online (including in English and French). 

Upcoming events:

13 February 2026:  Publication Annual Report 2025
31 March 2026: Annual General Meeting 2026

 
If you have any questions, please contact:

About Mobimo:
With a broadly diversified real estate portfolio that has a total value of approximately CHF 3.9 billion, Mobimo Holding AG (www.mobimo.ch) 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.