Mobimo increases profit in 2025
The result was positively influenced in particular by the business with condominiums, which sold more quickly than expected. The vacancy rate for commercial properties increased slightly.
Mobimo increased its operating result (EBIT) excluding revaluation from CHF 128.4 million to CHF 150.4 million in the 2025 financial year. The total value of the portfolio increased by 10% to CHF 4.2 billion - driven by the acquisition of EMWE Holding. Its rental income, which has been flowing in since August, compensated for the loss of rental income from the previous year's sales and the effect of the reduction in the reference interest rate - although this only took effect at the end of the year. Rental income increased by a total of CHF 0.5 million to CHF 145.5 million. On a like-for-like basis, rental income grew by 2.0%, which Mobimo attributes in particular to lower property expenses.
Vacancy rate increased
In the office tower on Escher-Wyss-Platz in Zurich, just under 40% of space had been let as at the reporting date, meaning that Mobimo had not quite reached its target of 50%. «However, the situation remains challenging for all market participants due to changing needs and requirements for office space,» writes the company. The letting of large spaces in particular is taking longer than in the past.
The vacancy rate for investment properties rose year-on-year from 3.7 to 4.1%. This is due to commercial space, where the vacancy rate rose from 5.1 to 6.1%. This is attributable to the departure of a major commercial tenant in eastern Switzerland and expiring rental agreements in Lausanne, Place de la Gare 10/Chemin de Mornex 3/Rue du Petit-Chêne 36-38 due to the imminent complete refurbishment of the property.
«Sales promotion» drives the result
The main reason for the increase in profit before valuation in the financial year is the sale of condominiums, which took place much more quickly than expected. Income from developments and sales promotion with the ongoing condominium projects in Oberägeri, Merlischachen, Köniz and Lausanne increased by over CHF 60% to CHF 53.3 million. The important key figure FFO I, which includes the promotion result, climbed by CHF 14.5% to CHF 121.6 million. By contrast, EPRA earnings per share, which exclude this effect, fell by 3% to CHF 9.81. Mobimo cites higher pro rata financing costs and taxes as the reason for this.
Revaluation gain more than doubled
Income from revaluations grew even more significantly than income from sales promotions. This increased from CHF 43.1 million to CHF 106.9 million. «The significantly higher result is due on the one hand to the positive momentum on the real estate market as a result of low interest rates and on the other to the high property and development quality of Mobimo's portfolio,» writes the company. A total of CHF 27.4 million came from operating and development activities. Taking revaluations into account, profit climbed significantly from CHF 125.2 million to CHF 192.9 million.
For 2026, the company expects organic rental income growth of around 3% and income from developments and sales promotions of around CHF 25 million. The vacancy rate for the entire portfolio is expected to be around 4.5%.
Transactions
Purchases of existing properties:
- Kloten, Lindenstrasse 15 (residential, under construction)
- Kloten, Bahnhofstrasse 13 (residential, under construction)
- Uster, Gschwaderstrasse 35a (residential)
- Uster, Gschwaderstrasse 37 (commercial)
- Wädenswil, Mattenweg 1 (residential)
- Zurich, Probusweg 9 (residential)
- Zurich, Rosmarinweg 11-13 (residential)
- Zurich, Berninastrasse 56 (residential, under construction)
- Zurich, Tulpenstrasse 5 (residential, under construction)
Purchases Projects:
- Langenthal, Kühlhausstrasse 8 (Geiser site) (residential)
- Lausanne, Chemin de la Fauvette 62 (residential)
- Meggen, Neueggweg 7 (residential)
Sales
- Geneva, Rue des Photographes 12
- Dietikon, Schöneggstrasse (project) (aw)
