Mobimo (MOBN) H1 2026 earnings summary

Executive summary

• Profit for H1 2026 reached CHF 126.8 million, up 15.5% year-over-year, driven by higher revaluation gains, robust development results, and strong operational performance across all strategic pillars.

• Rental income increased by 2.2% to CHF 74.2 million, supported by completions and acquisitions, with net rental income up 2.7% to CHF 64.2 million.

• The real estate portfolio value rose to CHF 4.3 billion as of 30 June 2026, reflecting high-quality assets in prime Swiss locations.

• Net income from development projects and trading property sales was CHF 19.5 million, with all units in key projects sold or handed over.

• The portfolio quality remains high, with a strong balance sheet and robust equity ratio.

Financial highlights

• Net rental income rose 2.7% year-over-year to CHF 64.2 million.

• Net income from revaluation surged 35.8% to CHF 97.2 million, mainly due to gains in both residential and commercial portfolios.

• EBIT reached CHF 166.4 million (+15.1%), but excluding revaluation, EBIT was CHF 69.2 million (down 5.2%).

• Earnings per share increased 12.6% to CHF 17.03; EPRA earnings rose to CHF 39.5 million.

• Profit excluding revaluation was CHF 47.9 million, down 6.9% year-over-year.

Outlook and guidance

• Guidance for full-year 2026: approx. 3% rental income growth, vacancy rate around 4.0%, and net income from development projects and trading property sales above CHF 25 million.

• Letting successes and new completions are expected to further reduce vacancy rates and boost rental income in H2 2026.

• Dividend expected to remain attractive and sustainable.

• Confident in achieving 2026 operational targets, supported by a well-filled project pipeline.