Mobimo Holding Ag · SIX:MOBN
Mobimo — FY2024 Earnings Presentation
53 slides from Mobimo's earnings presentation, Feb 14, 2025
Slide 1: Presentation 2024 Annual Results
Presentation 2024 Annual Results 14 February 2025
Slide 2: Agenda
Agenda The 2024 financial year at a glance Key financial figures for 2024 Real estate portfolio and pipeline Sustainability Outlook for the 2025 financial year 14.02.2025 | Presentation 2024 Annual Results 2
Slide 3: A successful financial year in 4 figures
The 2024 financial year at a glance A successful financial year in 4 figures Net income from Rental Equity Intensity of development and sale income ratio GHG emissions of trading properties 145.0 33.0 48.3 7.2 CHF million CHF million % kg CO2eq/m2 Scope 1 + 2 14.02.2025 | Presentation 2024 Annual Re
Slide 4: Favourable conditions for the property market
The 2024 financial year at a glance Favourable conditions for the property market Economy Real estate › Falling inflation and › Transactions interest rates. market picking up. › Swiss economy › High demand for generally resilient. residential property. › Office market in transition. › Movement in th
Slide 5: A successful financial year marking our 25th anniversary
The 2024 financial year at a glance A successful financial year marking our 25th anniversary Long-term increase in rental income Realisation of development profits Solid balance sheet +0.1% +21.4% -0.6%p y-o-y y-o-y y-o-y Net income from development and Rental income Equity ratio sale of trading pro
Slide 6: Key financial figures for 2024
The 2024 financial year at a glance Key financial figures for 2024 Real estate portfolio and pipeline Sustainability Outlook for the 2025 financial year
Slide 7: Rental income to see next growth step from 2026
Key financial figures for 2024 Rental income to see next growth step from 2026 Development of income from rental of properties CHF million +2.0% 1,42 Expected development in 2025 › Rental income in 2024 stable compared 2.71 -1.72 with prior year at CHF 145.0 million. Disposals 2024 144.9 -2.3 1.4 14
Slide 8: Successful lettings and a sale with a positive effect on vacancy rates
Key financial figures for 2024 Successful lettings and a sale with a positive effect on vacancy rates Development of vacancy rate for investment properties in % › Vacancy rate of the investment portfolio decreased to 3.7% (prior year: 4.1%). Residential › Residential portfolio almost fully let, with
Slide 9: Net valuation gain based on operational progress and market conditions
Key financial figures for 2024 Net valuation gain based on operational progress and market conditions Distribution of net income from revaluation CHF million 83.9 › Net valuation gain of CHF 43.1 million (prior year: net valuation loss of 40.4 CHF -50.0 million). › Net valuation gain of CHF 30.7 mil
Slide 10: Higher rents are the main driver of revaluations
Key financial figures for 2024 Higher rents are the main driver of revaluations Breakdown of factors influencing the net income from revaluation of commercial and residential properties CHF million 57.8 › Higher residential rents have largest impact on valuations. › Changes in the discount rate had
Slide 11: Development result driven by progress in condominium projects
Key financial figures for 2024 Development result driven by progress in condominium projects Net income from development and sale of trading properties CHF million +21.4% › Net income from development and sale of trading properties driven by the 33.0 encouraging development of the Oberägeri, Lutisba
Slide 12: Financial result and tax expense characterised by special effects
Key financial figures for 2024 Financial result and tax expense characterised by special effects Personnel expenses Operating and administrative expenses › Slightly higher personnel expenses with the CHF million CHF million number of full-time equivalents stable at +3.3% 161.3 FTE (prior year: 160.0
Slide 13: Earnings development reflects a good financial year
Key financial figures for 2024 Earnings development reflects a good financial year EBIT Earnings per share › EBIT CHF 171.5 million CHF million excl. revaluation CHF excl. revaluation (prior year: CHF 77.0 million) respectively +1.1% CHF 128.4 million 171.5 (prior year: CHF 127.0 million) excl. 127.
Slide 14: Strong equity base as a solid foundation for further development
Key financial figures for 2024 Strong equity base as a solid foundation for further development Equity Financial liabilities › Increase of 3.9% in total assets CHF million CHF million +2.7% +4.1% (prior year: decrease of 1.0%). 1,917.8 › Equity ratio remains strong at 48.3% 1,867.9 1,674.0 (prior ye
Slide 15: Balanced maturities; expected increase in interest costs slightly lower
Key financial figures for 2024 Balanced maturities; expected increase in interest costs slightly lower Maturity profile as at 31 December 20241 2.5 2.4 2.4 2.0 2.1 2.0 1.7 0.8 1.0 0.5 0.3 265 229 224 - 198 120 New bond issued on 13.1.2025 150 58 +120 CHF 120 million / 1.35% (unused) 150 150 138 110
Slide 16: Real estate portfolio and pipeline
The 2024 financial year at a glance Key financial figures for 2024 Real estate portfolio and pipeline Sustainability Outlook for the 2025 financial year
Slide 17: Promising investment projects under construction
Real estate portfolio and pipeline Promising investment projects under construction Zurich Lausen Aarau Lausanne Hardturmstrasse 3/3a/3b Hauptstrasse Aeschbachweg 5/7 - 29 Avenue d’Ouchy 70/76; (Office Tower) Place de la Navigation 2 Usage Commercial Residential Residential Residential / Commercial
Slide 18: Sustainable value creation through developments for own portfolio
Real estate portfolio and pipeline Sustainable value creation through developments for own portfolio Under construction CHF 135 million (prior year: CHF 70 million) Usage 2025 2026 Lausen, Hauptstrasse res Zurich, Hardturmstrasse 3/3a/3b (Office Tower) com Aarau, Aeschbachweg 5/7 - 29 res Lausanne,
Slide 19: Portfolio optimisation frees up capital for ongoing projects
Real estate portfolio and pipeline Portfolio optimisation frees up capital for ongoing projects Sale of investment properties Sale of non-strategic investment Total proceeds CHF 37.2 million1 Proceeds CHF 6.1 million Erlös CHF 6,1 Millionen Commercial property Non-consolidated equity investment in K
Slide 20: Acquisitions with development potential
Real estate portfolio and pipeline Acquisitions with development potential Dielsdorf Zurich Langenthal Krummibuckweg 2-12; Schwändistrasse 55 Birchstrasse 149 (RAD-Areal) Kühlhausstrasse 8 (Geiser-Areal) Aug Dec Jan 2024 2024 2025 Development property Development property “Development for third part
Slide 21: Attractive condominium projects in realisation
Real estate portfolio and pipeline Attractive condominium projects in realisation Oberägeri Merlischachen Köniz Lausanne Lutisbachweg Chappelmatt-Strasse (Burgmatt) Niederwangen, Papillonallee Avenue de Beaumont 76 • 10 buildings with • 14 buildings with • 2 buildings with • Timber construction with
Slide 22: Steady profit contribution from condominium projects
Real estate portfolio and pipeline Steady profit contribution from condominium projects Under construction CHF 285 million (prior year: CHF 200 million) 2025 2026 2027 Oberägeri, Lutisbachweg Köniz, Niederwangen, Papillonallee Merlischachen, Chappelmatt-Strasse (Burgmatt) In planning phase 1 CHF 515
Slide 23: Well-balanced portfolio mix through ongoing optimisation
Real estate portfolio and pipeline Well-balanced portfolio mix through ongoing optimisation Total portfolio value Target rental income for investment CHF million properties by type of use4 % Total portfolio value 3,799 (100%) 6 10.5 5 5.9 Investment properties 1 1,601 (42%) 3,194 (84%) 4 6.2 1,592 (
Slide 24: Sustainability
The 2024 financial year at a glance Key financial figures for 2024 Real estate portfolio and pipeline Sustainability Outlook for the 2025 financial year
Slide 25: The sustainability year in three figures
Sustainability The sustainability year in three figures Share of projects (under construction) that Produced MSCI comply with emission limits solar power2 ESG Rating for developments1 100 1,147 AAA % MWh/a 1 Meet limit value 2 (according to Minergie(-ECO) 2020) for CO 2 Calculated potential electric
Slide 26: Sustainability highlights in 2024
Sustainability Sustainability highlights in 2024 Our properties Our contribution to society Our company E S G Reducing emissions and High-quality places to live Award-winning employer group increasing renewable energy production › Reduction of CO2 emissions in › Integration of sustainability criteri
Slide 27: Further progress in reducing emissions
Sustainability Further progress in reducing emissions The investment portfolio’s CO2 reduction path by 20501 Most important measures kg CO2eq/m2 Extensive energy-related renovations. Replacement of conventional heating systems through connection to district heating connections and higher proportion
Slide 28: Outlook for the 2025 financial year
The 2024 financial year at a glance Key financial figures for 2024 Real estate portfolio and pipeline Sustainability Outlook for the 2025 financial year
Slide 29: Positive market conditions overall
Outlook for the 2025 financial year Positive market conditions overall Economic Office and commercial Residential Development and environment property market property market transaction market › Subdued growth › Stable demand for office › Consistently high › Continued strong demand momentum. spaces.
Slide 30: Focus on business activity
Outlook for the 2025 financial year Focus on business activity › Exploiting rental income potential. › Selective acquisition of development projects. › Focus on letting the office tower. › Fulfilment of strong demand in the residential property market. › Close monitoring of property costs. › Expansi
Slide 31: Another strong contribution expected from development business
Outlook for the 2025 financial year Another strong contribution expected from development business Area Expectations 2025 Mid-term ambitions Slightly below 2024 level. Income from rental Due to property disposals and likely Return to growth in the 2026 financial year. properties reference interest r
Slide 32: Your contacts
Your contacts Daniel Ducrey Jörg Brunner Stefan Feller CEO CFO Head of Financing & IR Web: https://www.mobimo.ch/en/investors Email: ir@mobimo.ch Tel: +41 44 397 11 97 Mobimo Management AG @mobimoimmo 14.02.2025 | Presentation 2024 Annual Results 32
Slide 33: Financial calendar
Financial calendar 31.3.2025 4.4.2025 8.8.2025 25th Annual General Meeting Dividend payment date Publication of (provisional) 2025 half-year results Planned roadshows and participation in investor conferences in the first half of 2025 Date Event/Location Organiser 18 February Roadshow, Zurich ZKB 4
Slide 34: Disclaimer
Disclaimer The financial data as well as the other information presented herein constitute selected information. The information in this presentation does not constitute an offer or invitation and may not be construed as a recommendation by us to purchase, hold or sell shares of Mobimo Holding AG. T
Slide 35: Appendix
Me Fe o em J _ “ll APPENDIX
Slide 36: Appendix contents
Appendix contents ● Financial key figures pages 37 – 40 ● Real estate portfolio and pipeline pages 41 – 49 ● Sustainability pages 50 ● Mobimo on the capital market pages 51 – 52 14.02.2025 | Presentation 2024 Annual Results 36
Slide 37: Key income statement figures – 5-year overview
APPENDIX – Financial key figures Key income statement figures – 5-year overview CHF million 2020 2021 2022 2023 2024 Δ y-o-y % Net rental income 105.1 112.5 120.0 125.7 123.6 -1.6 Net income from development projects and 36.8 58.5 42.4 27.2 33.0 +21.4 sale of trading properties Net income from reval
Slide 38: Share data
APPENDIX – Financial key figures Share data 31.12.2020 31.12.2021 31.12.2022 31.12.2023 31.12.2024 Δ y-o-y % Shares outstanding (number) 6,594,117 6,596,379 7,252,377 7,251,459 7,251,459 0.0 Market capitalisation (CHF million) 1,885.9 2,015.2 1,711.6 1,892.6 2,124.5 +12.3 NAV per share (CHF)1 237.31
Slide 39: Calculation of funds from operations (FFO) per share
APPENDIX – Financial key figures Calculation of funds from operations (FFO) per share CHF million 2023 2024 › Share-based payments are not eliminated in the calculation of FFO, as Mobimo procures Operating result (EBIT) 77.0 171.5 the shares on the market at the expense of + Depreciation and amortis
Slide 40: Details of interest-bearing liabilities
APPENDIX – Financial key figures Details of interest-bearing liabilities Development of EPRA-LTV (in %) Development of net gearing (in %) Development of interest coverage ratio 2024 42.2 2024 85.0 2024 5.6x min. max. 40-50% 150%1 2.0x1 2023 42.3 2023 83.9 2023 6.1x 2022 42.3 2022 83.2 2022 7.8x Fina
Slide 41: High income stability due to maturity structure of fixed rental agreements
APPENDIX – Real estate portfolio and pipeline High income stability due to maturity structure of fixed rental agreements Maturity profile of fixed-term rental agreements1,2 Shares of the five biggest tenants1 % % 2025 1 11.5 2 3 4.7 2.7 4 2.6 5 2026 15.3 1.5 1.4 2027 12.2 2028 11.8 2029 15.4 2030 5.
Slide 42: Lower vacancy rate in Central Switzerland thanks to letting successes
APPENDIX – Real estate portfolio and pipeline Lower vacancy rate in Central Switzerland thanks to letting successes Regional vacancy rate as at 31 December 2024 Market region Portfolio share 1 Vacancy rate Change y-o-y Zurich 44.9% 3.2% Lake Geneva 36.5% 4.4% North-western Switzerland 8.3% 3.6% Cent
Slide 43: Broadly diversified portfolio throughout Switzerland
APPENDIX – Real estate portfolio and pipeline Broadly diversified portfolio throughout Switzerland Investment portfolio Development portfolio Fair value in CHF million1 Planned investment volume in CHF million1 1 As at 31 December 2024. 14.02.2025 | Presentation 2024 Annual Results 43
Slide 44: Details of the development pipeline for own investment portfolio
APPENDIX – Real estate portfolio and pipeline Details of the development pipeline for own investment portfolio Projects under construction Construction phase Current Remaining Target 2025 2026 2027 Site Target Usage fair value investment rental income Project status as at 31 December 2024 area in m2
Slide 45: Details of pipeline of condominium projects
APPENDIX – Real estate portfolio and pipeline Details of pipeline of condominium projects Projects under construction Construction phase Remaining Expected 2025 2026 2027 Number of Site Project status investment sales proceeds units area in m2 as at 31 December 2024 CHF million CHF million Oberägeri
Slide 46: Portfolio snapshot – Most valuable commercial properties
APPENDIX – Real estate portfolio and pipeline Portfolio snapshot – Most valuable commercial properties Highlights of commercial portfolio2 105 92 83 74 › 65 commercial investment properties. › Fair value of CHF 1,593 million. Zurich Lausanne Affoltern am Albis Kriens › CHF 87.0 million target rental
Slide 47: Quality matrix Mobimo commercial properties according to JLL
APPENDIX – Real estate portfolio and pipeline Quality matrix Mobimo commercial properties according to JLL Assessment criteria Assessment macro location Macro location General quality of the location, transport links in the region, purchasing power of the population and tax attractiveness. Location
Slide 48: Portfolio snapshot – Most valuable residential properties
APPENDIX – Real estate portfolio and pipeline Portfolio snapshot – Most valuable residential properties Highlights of residential portfolio1 195 153 109 94 › 43 residential investment properties. › Fair value of CHF 1,592 million. Zurich Zurich Urdorf Lausanne › CHF 54.7 million target rental income
Slide 49: Quality matrix Mobimo residential properties according to JLL
APPENDIX – Real estate portfolio and pipeline Quality matrix Mobimo residential properties according to JLL Assessment criteria Assessment Macro location macro location General quality of the location, transport links in the region, purchasing power of the population and tax attractiveness. Location
Slide 50: Sustainability anchored in the business activities at all levels
APPENDIX – Sustainability Sustainability anchored in the business activities at all levels Selected sustainability figures ESG ratings CO₂ emissions Investment properties with Green Star (5 stars) 4,768 Tonnes CO2 emissions 50 certification Standing Investments: 88 points -13.6% (Scope 1 – 3.13) +25
Slide 51: Mobimo share with strong total return and decent trading liquidity
APPENDIX – Mobimo on the capital market Mobimo share with strong total return and decent trading liquidity 5-year share performance (indexed) compared with SPI and SXI › The dividend-adjusted share price has Mobimo (CH0011108872); dividend-adjusted increased by 20.3% over a five-year period. SPI The
Slide 52: Broadly diversified shareholder base
APPENDIX – Mobimo on the capital market Broadly diversified shareholder base Composition of shareholders as at 31 December 2024 › Free float as at 31 December 2024: 100% % (as defined by SIX Swiss Exchange) › As at 31 December 2024, the following shareholders held 3% or more of the share capital: ›
Slide 53: Mobimo Holding AG Rütligasse 1 CH-6000 Lucerne
Mobimo Holding AG Rütligasse 1 CH-6000 Lucerne info@mobimo.ch +41 41 249 49 80