Mobimo (MOBN) H2 2025 earnings summary

Executive summary

• Achieved a successful year with net rental income of CHF 125.5 million and strong sales of trading properties, supported by the acquisition of EMWE Holding AG and a high-quality portfolio.

• Net income from revaluation surged to CHF 106.9 million, up 148.3% year-over-year, reflecting operational progress and favorable market conditions.

• Earnings per share rose to CHF 26.35, up 52.7% year-over-year, with a proposed distribution of CHF 10.25 per share.

• Business performance in 2025 exceeded expectations, with strong development and sales and robust net rental income.

• Real estate portfolio value increased significantly, supported by high-quality properties and favorable market conditions.

Financial highlights

• Net rental income increased by 1.5% year-over-year to CHF 125.5 million, driven by organic growth and the EMWE portfolio acquisition.

• Net income from development projects and trading property sales reached CHF 53.3 million, up 61.5% year-over-year.

• EBIT excluding revaluation was CHF 150.4 million, up 17.1% year-over-year; total EBIT was CHF 257.3 million, up 50%.

• Profit rose to CHF 192.9 million, up 54.1% year-over-year; profit excluding revaluation was CHF 105.6 million, up 15.6%.

• NAV per share (diluted) increased to CHF 282.92; EPRA NTA per share reached CHF 309.21.

Outlook and guidance

• Expects approx. 3% organic growth in rental income for 2026, supported by project completions and EMWE portfolio.

• Vacancy rate for the total portfolio is forecast at around 4.5% in 2026, with net income from development projects and trading property sales expected at approx. CHF 25 million.

• Dividend yield remains attractive, and further progress in reducing Scope 3 emissions is targeted.

• Distribution of CHF 10.25 per share proposed for 2025, unchanged from prior year.

• Positive momentum in the real estate market expected to continue supporting portfolio value.