Mobimo is defying the pandemic
Mobimo was able to significantly increase its operating result in 2020 compared to the previous year. The growth drivers were the development and sale of properties. The real estate company kept its rental income almost constant despite the support of commercial tenants.
Mobimo generated an operating result (EBIT) of CHF 145.8 million in the 2020 financial year, the real estate company informed in astatement . Excluding revaluation effects, the operating result was CHF 111.5 million. In the previous year, the corresponding values were CHF 134.0 million and CHF 82.5 million, respectively.
The development and sale of properties proved to be growth drivers in the year under review. The year-on-year success here had risen from CHF 3.0 million to CHF 36.8 million. The revaluation gain, however, fell year-on-year from CHF 51.5 million to CHF 34.3 million. Mobimo writes that it was mainly generated operationally in the reporting year.
The real estate company posted rental income of CHF 105.1 million in the year under review. This only just fell short of the value of CHF 106.7 million in 2019. At the same time, Mobimo supported its own tenants from the catering, hotel and retail sectors with rent relief totaling 6.5 million francs due to the pandemic.
Mobimo's real estate portfolio increased from CHF 3.3 billion to CHF 3.4 billion in the course of the year under review. The average gross return remains unchanged at 4.5 percent, the company informs in the announcement. As of the end of the year, Mobimo had investment properties under construction in the amount of CHF 90 million and in planning in the amount of CHF 490 million.