Mobimo Holding AG: Successful 2025 financial year for Mobimo

Ad hoc announcement pursuant to Art. 53 LR

Successful 2025 financial year for Mobimo 

 

• Rental income of CHF 145.5 million – CHF 0.5 million higher than the previous year. 1.5% increase in net rental income to CHF 125.5 million – pleasing like-for-like rental growth of 2.0%. 
• Further strong increase in net income from development projects and sale of trading properties to CHF 53.3 million – up 61.5% compared with the previous year.
• Significantly higher net income from revaluation of CHF 106.9 million reflects property quality and operating performance of properties under construction.
• Net profit increased to CHF 192.9 million – up 54.1% on the previous year.
• 10.4% increase in real estate portfolio value to CHF 4.2 billion, equity ratio still at a solid 47.4%.
• Unchanged dividend proposal of CHF 10.25 per share.
• Organic growth from rental income of around 3% and net income from development projects and sale of trading properties of around CHF 25 million are expected for 2026.

Lucerne, 13 February 2026 – Mobimo can look back on positive business performance in 2025, driven by successful operating activities, such as robust rental income, strong sales performance of trading properties and a significant increase in the value of properties under construction for its own portfolio. The residential market segment performed particularly well, benefiting from sustained high demand for rental apartments and condominiums.

Significant increase in operating result
The operating result (EBIT) stood at CHF 257.3 million including revaluation (previous year: CHF 171.5 million) or CHF 150.4 million excluding revaluation (previous year: CHF 128.4 million). Net profit came in at CHF 192.9 million including revaluation (previous year: CHF 125.2 million) or CHF 105.6 million excluding revaluation (previous year: CHF 91.3 million).
A particular highlight of 2025 was the acquisition of EMWE Holding AG. The five existing properties and three residential properties under construction – all in the city or canton of Zurich – strengthen Mobimo’s existing residential portfolio and pipeline. Including these new additions, the total value of the real estate portfolio grew by around 10% to CHF 4.2 billion in the reporting year (31.12.2024: CHF 3.8 billion).

Strong net rental income base
At CHF 145.5 million, rental income was CHF 0.5 million higher than in the previous year. The reduction in the reference interest rate in 2025 only began to take effect towards the end of the year. This meant that the loss of rental income from properties sold in 2024 could be offset by income from the EMWE portfolio from August 2025 onwards, along with a positive contribution from the existing portfolio. Lower real estate expenses led to a 1.5% increase in net rental income to CHF 125.5 million (previous year: CHF 123.6 million).  On a like-for-like basis, this resulted in rental growth of 2.0%.

Mobimo’s rental income base will continue to grow in 2026 thanks to portfolio additions: in the fourth quarter of 2025, the 65 apartments on the Scholer site in Lausen were completed and occupied. Construction of the Hofhaus (courtyard building) and the Hallenhaus (hall building) in the Aeschbachquartier in Aarau is also progressing according to plan. The two buildings are expected to be completed in summer 2026. The letting activities for the 126 rental apartments began in December 2025. Half of the apartments have already been reserved.

Intensive letting activities
The letting activities for the commercial space in the portfolio was broadly positive in 2025, particularly in French-speaking Switzerland. For the Office Tower, the striking high-rise on Escher-Wyss-Platz in Zurich, the intensive letting activities are also starting to bear fruit: as at the reporting date, almost 40% of the space had been let. However, the situation remains challenging for all market participants due to the changing requirements for office space. In particular, letting larger spaces is taking longer than in the past. Attractive office and commercial spaces in well-connected locations remain important assets in a diversified portfolio.

The vacancy rate across the entire portfolio stood at 4.1% (previous year: 3.7%) and was therefore in line with expectations.

Development and sales performance above expectations
Demand for residential property remains high and Mobimo aligns its projects with the needs of the market – one reason for the consistently quick sales. Net income from development projects and sale of trading properties driven by the ongoing condominium projects in Oberägeri, Merlischachen, Köniz and Lausanne, increased by more than 60% to CHF 53.3 million (previous year: CHF 33.0 million) and thus exceeded expectations. The CHF 900 million development pipeline for condominiums and its targeted expansion form the basis for future profit contributions in this segment. Against this backdrop, Mobimo acquired an area of around 12,000 m² in Meggen in September 2025, on which around 70 condominiums are planned.

Dynamic transaction market
Net income from revaluation is CHF 106.9 million (previous year: CHF 43.1 million). On the one hand, the significantly higher result can be attributed to the positive momentum in the real estate market as a result of low interest rates. On the other hand, it reflects the high quality of the properties and development projects in Mobimo’s portfolio. CHF 27.4 million was generated from operating activities and the value-adding development activities for properties under development and investment properties under construction.

Solid financing as a foundation, unchanged dividend proposal
Despite the real estate portfolio growing by over 10% to CHF 4.2 billion (31.12.2024: CHF 3.8 billion), Mobimo continues to have a solid capital base with an equity ratio of 47.4% (31.12.2024: 48.3%) and an EPRA loan-to-value of 44.1% (31.12.2024: 42.2%) and is well positioned for potential further growth steps.

The Board of Directors will propose an unchanged dividend of CHF 10.25 per share to the General Meeting on 31 March 2026, underlining Mobimo’s attractiveness as a dividend stock.

Sustainability performance further improved
The intensity of greenhouse gas emissions (Scope 1 + 2 + 3.13) was further reduced in the reporting period to 7.7 kg CO₂eq/m² ECS (previous year: 7.9 kg CO₂eq/m²_{ECS). In this reporting period, Mobimo is reporting for the first time on indirect Scope 3 emissions, which arise primarily from construction activities carried out on our behalf. This makes our sustainability reporting more transparent and will enable us to better track our reduction efforts and intensify them where appropriate.}

Changes on the Board of Directors
The upcoming leadership change on the Board of Directors will mark the end of a renewal phase within the board. The Board of Directors will propose to the General Meeting that member Dr Markus Schürch be elected as the new Chairman. He replaces Peter Schaub, who is not standing for re-election after seven years as Chairman and a total of 18 years on the Board of Directors. Peter Schaub has shaped Mobimo’s strategic development with foresight and integrity over many years. The Board of Directors would like to thank him for his outstanding commitment during this time. Sophie Dubuis will also be nominated as a new member of the Board of Directors. Since 2022, Sophie Dubuis has been a self-employed management consultant and an independent board member at several well-known companies in French-speaking Switzerland, including the listed Banque Cantonale de Genève and the Migros Cooperative Geneva, where she serves as Chair of the Board of Directors.

Outlook
We expect Mobimo to continue its positive performance in 2026 with organic growth of income from rental of properties of around 3%, as well as net income from development projects and sale of trading properties of approximately CHF 25 million. The vacancy rate for the entire portfolio is expected to be around 4.5%.
To maintain this level of performance in the core operating business and remain as agile as possible in the market, Mobimo adapted its management structure at the beginning of 2026. Mobimo will continue to focus on cost discipline, invest strategically in growth and ensure the company remains well positioned in a promising but challenging environment.

Detailed reporting:

›› You can see the 2025 Annual Report here.
›› Presentation of the 2025 annual results:

Date: 13 February 2026
Time: 10.00 (CET)

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

 
Upcoming events:
31 March 2026: Annual General Meeting
8 May 2026:      Capital Markets Day
7 August 2026:  Publication of 2026 half-year financial results

If you have any queries, please contact

About Mobimo
With a broadly diversified real estate portfolio that has a total value of approximately CHF 4.2 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 180 employees.