Mobimo experienced a favorable market environment in the first half of 2024, benefiting from declining inflation and interest rates.

The company reported an earnings before interest and taxes (EBIT) of 83.3 million Swiss francs for H1 2024 (previous year: 50.8 million francs), or 61.3 million Swiss francs excluding revaluation gains (previous year: 60.1 million Swiss francs).

Profit Jumps by 91 Percent

Net profit, including revaluation gains, surged by 91.5 percent to 65.6 million Swiss francs (previous year: 34.3 million Swiss francs). Excluding revaluation gains, the profit was 47.8 million Swiss francs (previous year: 43.1 million Swiss francs). This significant increase was primarily due to the sale of a non-consolidated stake in a parking facility in Lausanne.

Rental Income Rises by 2.5 Percent

Rental income as of the end of June was 62.5 million Swiss francs, down from 64.4 million the previous year, which had included special effects amounting to 3 million Swiss francs. Adjusting for these effects, rental income grew by 2.5 percent in H1 2024.

Revenue from developments and property sales rose to 12.9 million Swiss francs (previous year: 9.0 million Swiss francs).

The total value of the real estate portfolio is 3.7 billion Swiss francs, with an equity ratio of 48.1 percent.

Executive Departure

There will be a change in the executive team. Gerhard Demmelmair, Head of Portfolio & Transactions and member of the Executive Board, has decided to leave the company in the second half of the year to pursue a new career opportunity. The search for his successor is underway