Capital Markets Day: Mobimo offers deeper insights into key projects and pipeline

Press release

 

Capital Markets Day: Mobimo offers deeper insights into key projects and pipeline

Lucerne, 18 April 2024 – Mobimo is welcoming investors, analysts, representatives of lenders and members of the media to its Capital Markets Day in Zurich today. The company’s six-member Executive Board will provide deeper insights into key projects and the project pipeline.

To begin the event, Daniel Ducrey, CEO of Mobimo, will give a summary of Mobimo’s three strategic pillars: increasing rental income, securing development profits and protecting equity.  “In recent years, we have operated successfully along these strategic priorities, and we have the necessary pipeline of projects to achieve our goals in the coming years”, explains Ducrey.

In terms of the company’s own investment portfolio, Mobimo is about to start construction on the next stage of development on the Torfeld Süd site in Aarau (“Aeschbachquartier”). An investment volume of around CHF 68 million is enabling a timber construction building with 76 units for families and another residential building with 50 smaller units to be built on the site of an existing property on Site 3 by mid-2026.

Lausanne, Quartier du Flon: “Hidden Champion” of Mobimo’s portfolio

One of Mobimo’s core areas of expertise is how to develop sites into vibrant urban spaces with a variety of purposes. Over the last few decades, the Quartier du Flon in Lausanne has developed from a goods handling centre into one of the most fashionable shopping and nightlife districts that is known far beyond the region. According to Gerhard Demmelmair, Head of Portfolio & Transactions, around CHF 115 million has been invested in the development there since 2012. The Quartier du Flon sees over 7.5 million visitors a year.

Condominium projects: a large number in the pipeline

In addition to the condominium project already under construction in Oberägeri (“Edenblick”), four further projects are currently planned up until the end of 2026. Jörg Brunner, CFO, explains, that Mobimo’s accounting policy is based on the percentage of completion methodology. Therefore, income and profits from condominium projects will be spread over the next few years. Provided that the projects are realised on time. Delays in obtaining building permits or in the progress of construction or sales can lead to postponements to later years. Mobimo is currently estimating that the current pipeline can be financed without additional equity.

Marco Tondel, Head of Development & Chief Sustainability Officer (CSO), will show Mobimo’s approach to grey energy in construction projects, using the example of the successful conversion project on Talwiesenstrasse (“Tiergarten”) in Zurich to explain. Christoph Egli, Head of Property Management, will present how Mobimo has been able to achieve significant efficiency gains thanks to the digitalisation of property management.

Medium-term outlook: positive developments expected

Daniel Ducrey will give a generally favourable outlook for the future. He says, “Until the end of the 2026 financial year, we are currently assuming average growth in rental income of around 2% p.a., driven by the projects currently in the pipeline for the investment portfolio. Provided that the condominium projects run as planned, slightly higher contributions from the development business can be expected over the next few years. On a multi-year average, we consider an annual profit contribution of slightly over CHF 20 million to be realistic.” Despite the recent fall in interest rates, Mobimo anticipates that financing costs will rise over the next few years. “Mobimo will continue to pursue an attractive dividend policy,” says Ducrey.

Under guidance from Vinzenz Manser, Head of Realisation, the Capital Markets Day will be rounded off with a tour of two Mobimo residential construction projects in Zurich that were completed last year.

Presentations for download

The presentations for today’s Capital Markets Day are available for download at https://www.mobimo.ch/en/investors/capitalmarketsday.

Upcoming events:

 2 August 2024: Publication of 2024 half-year results

If you have any queries, please contact:

Contact for analysts and investors:

Stefan Feller, Head of Investor Relations

[email protected]

+41 44 397 11 97

Contact for media:

Anthony Welbergen, Head of Corporate Communication

[email protected]

+41 44 397 11 86

www.mobimo.ch

 

About Mobimo:

With a broadly diversified real estate portfolio that has a total value of approximately CHF 3.6 billion, Mobimo Holding AG 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 170 employees.