Züblin Immobilien significantly increases rental income
In the past half-year, the company benefited from the payment of a rent receivable that had already been written off, among other things, and believes it is well positioned for purchase opportunities.
Immobilien-AG Züblin recorded a significant increase in rental income in the first half of its 2025/26 financial year. The increase of 13.2% to around CHF 5 million is due to vacancy reductions and the payment of a rent receivable written off in the previous year, the company announced. The new lettings already communicated in Berne led to a significant reduction in vacancy losses of 32.6% to CHF 264,000 (previous year: 392,000). The vacancy rate fell by 0.5 percentage points to 4.3%. «The rent for the extension of a significant rental agreement was reduced slightly to take account of the lower tenant improvement allowances,» adds Züblin. However, the target rental income remained almost unchanged at around CHF 5.0 million due to indexation. Without the special effects from the losses on receivables, rental income would have been 2.7% higher than in the previous year.
Operating result increases significantly
Züblin explains the increase in property expenses by CHF 36,000 to CHF 160,000 in particular with higher building insurance premiums and higher accruals for property taxes due to a reassessment of the official value. Ongoing maintenance costs also increased, while personnel expenses fell. EBITDA improved by a total of 13.0% to CHF 3.4 million.
The revaluation of the real estate portfolio led to an appreciation of around 2.2 million or 0.9% (previous year: +0.5 million/+ 0.2%). Financial expenses increased compared to the same period of the previous year due to the
The net interest income fell by CHF 531,000 to CHF 370,000 due to lower key interest rates, while the mortgage volume remained virtually unchanged. As a result, the profit generated rose from CHF 2.4 million to CHF 4.3 million, while the operating result (EPRA earnings) per share adjusted for valuation effects increased byTP3T 31.11.
«Good starting position for buying opportunities»
In its outlook, Züblin points to the further increase in the attractiveness of real estate investments as a result of the fall in yields on government and corporate bonds in Swiss francs. With a low debt ratio, Züblin is «in a good position to take advantage of any buying opportunities». The company is focusing on real estate with office space as its main use in ticket sizes of CHF 10 to 50 million. (aw)
