Mobimo Holding Ag · SIX:MOBN
Mobimo — H1 2024 Earnings Presentation
43 slides from Mobimo's earnings presentation, Aug 2, 2024
Slide 1: Presentation half-year results 2024
Küsnacht, Seestrasse 59 Presentation half-year results 2024 2 August 2024
Slide 2: Today’s presenters
Today’s presenters Daniel Ducrey Jörg Brunner Stefan Feller CEO CFO Head of Financing & IR 02.08.2024 | Presentation half-year results 2024 2
Slide 3: Agenda
Agenda Overview of the first half-year 2024 Financial figures first half-year 2024 Real estate portfolio and pipeline Sustainability Outlook second half-year 2024 02.08.2024 | Presentation half-year results 2024 3
Slide 4: Overview of the first-half year 2024
Overview of the first-half year 2024 Lausanne, Les Jumaux Income from rental of Profit on development and properties sale of trading properties 72.5 12.9 CHF million CHF million -1.7% / +2.0% l-f-l Letting +43.3% successes Earnings per share Solid balance sheet excl. revaluation 48.1% 6.59 Equity ra
Slide 5: Financial figures first half-year 2024
Overview of the first half-year 2024 Financial figures first half-year 2024 Real estate portfolio and pipeline Update Sustainability Outlook second half-year 2024
Slide 6: Slight increase in rental income
Financial figures first half-year 2024 Slight increase in rental income Development of income from rental of properties in CHF million +2.5% › Growth in rental income of +2.5% adjusted for special 3.5 1.4 effects1,2 in the same period of the previous year. Including the previous year’s special effec
Slide 7: Valuation result reflects positive market development
Financial figures first half-year 2024 Valuation result reflects positive market development Distribution of net income from revaluation in TCHF › CHF 22.0 million net appreciation 45,648 (previous year net depreciation of CHF -9.3 million). › Net appreciation of CHF 9.0 million in the existing port
Slide 8: Positive impact on valuation by higher rents in residential segment
Financial figures first half-year 2024 Positive impact on valuation by higher rents in residential segment Breakdown of factors influencing the net income from revaluation of commercial and residential properties in TCHF › Higher rents in the residential sector had the greatest impact on valuations.
Slide 9: Development success driven by progress in condominium projects
Financial figures first half-year 2024 Development success driven by progress in condominium projects Profit from development projects and sale of trading properties in CHF million +43.3% › Success from development projects and sale of trading properties driven by notarisation of further appartement
Slide 10: Key income statement figures I
Financial figures first half-year 2024 Key income statement figures I CHF million HY|2023 HY|2024 Δ y-o-y % Net rental income 64.4 62.5 -3.0 Profit on development projects and sale of trading properties 9.0 12.9 +43.3 Net income from revaluation -9.3 22.0 nmf Personnel, operating and administrative
Slide 11: Key income statement figures II
Financial figures first half-year 2024 Key income statement figures II HY|2023 HY|2024 Δ y-o-y % Earnings per share (CHF) 4.72 9.04 +91.5 Earnings per share excluding revaluation (CHF) 5.94 6.59 +10.9 Funds from Operations I (FFO I) per share (CHF) 6.93 6.20 -10.5 Funds from Operations II (FFO II) p
Slide 12: Key balance sheet figures
Financial figures first half-year 2024 Key balance sheet figures 31.12.2023 30.6.2024 Δ y-o-y % Cash (CHF million) 39.4 28.6 -27.3 Overall portfolio (CHF million) 3,631.3 3,677.5 +1.3 Equity (CHF million) 1,867.9 1,860.8 -0.4 Equity ratio 48.9% 48.1% -0.8%p Return on equity 4.9% 5.2%1 +0.3%p Interes
Slide 13: Sound and balanced financing situation
Financial figures first half-year 2024 Sound and balanced financing situation Maturity profile as at 30 June 20241 2.7 2.4 2.1 2.0 2.1 2.2 1.8 0.9 0.4 0.6 0.3 259 241 230 223 226 150 New bond as of 1.7.2024 (unused) CHF 150 million / 2.05% 116 120 100 91 53 Green Green Bond Bond Kommittierte Committ
Slide 14: Real estate portfolio and pipeline
Overview of the first half-year 2024 Financial figures first half- year 2024 Real estate portfolio and pipeline Update Sustainability Outlook second half-year 2024
Slide 15: 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 / Commercia
Slide 16: Sustainable value creation through developments for own portfolio
Real estate portfolio and pipeline Sustainable value creation through developments for own portfolio Under construction CHF 155 million (Previous year CHF 70 million) Usage 2024 2025 2026 Lausanne, Rue de Genève 19/21 com Zürich, Hardturmstrasse 3/3a/3b (Office Tower) com Lausen, Hauptstrasse res Aa
Slide 17: Portfolio optimisation frees up capital for ongoing projects
Real estate portfolio and pipeline Portfolio optimisation frees up capital for ongoing projects Sale investment property Residential property Genève, Rue de Malatrex 30 Jun 2024 › Target rental income: CHF 0.5 million. › Sold at carrying value. Sale non-strategic asset Non-consolidated equity invest
Slide 18: 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 19: Steady profit contribution from condominium projects
Real estate portfolio and pipeline Steady profit contribution from condominium projects Under construction CHF 290 million (Previous year 200 million) 2024 2025 2026 Horgen, Allmendgütlistrasse 35/39/43 Oberägeri, Lutisbachweg Merlischachen, Chappelmatt-Strasse (Burgmatt) In planning phase 1 CHF 515
Slide 20: 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 in CHF million properties by type of use4 % Total portfolio value 3,678 (100%) 6 10.3 5 5.7 3,150 (86%) 4 Investment properties1 1,565 (43%) 1,585 (43
Slide 21: Sustainability
Overview of the first half-year 2024 Financial figures first half- year 2024 Real estate portfolio and pipeline Update Sustainability Outlook second half-year 2024
Slide 22: Innovations and partnerships as part of our sustainability strategy
Update Sustainability Innovations and partnerships as part of our sustainability strategy Reduction of emissions Ausbau Photovoltaik Photovoltaic expansion Sustainable Finance › Energetic optimisation of the › Planning of 12 additional › First Green Bond Report published. operation of existing prope
Slide 23: Outlook second half-year 2024
Overview of the first half-year 2024 Financial figures first half- year 2024 Real estate portfolio and pipeline Update Sustainability Outlook second half-year 2024
Slide 24: Focus on business activity
Outlook second half-year 2024 Immobilienportfolio Focus on business activity › Realisation of the yield potential of the investment › Development of Aarau Baufeld 3 (Baubereich 2). portfolio. › Selective acquisition of development projects. › Achievement of full occupancy of completed › Fulfilment o
Slide 25: Good operational performance expected to continue
Outlook second half-year 2024 Good operational performance expected to continue Area HY 2024 Guidance 2024 Stable rental income; rent adjustments Income from rental properties CHF 72.5 million offset the absence of one-off effects. Vacancy rate 4.2% Constant; overall portfolio < 4.5%. Income from de
Slide 26: 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 02.08.2024 | Presentation half-year results 2024 26
Slide 27: Financial calendar
Financial calendar 14.2.2025 31.3.2025 8.8.2025 Publication of 25th Annual General Meeting Publication of 2024 annual results 2025 half-year results 02.08.2024 | Presentation half-year results 2024 27
Slide 28: 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 29: APPENDIX
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Slide 30: Key income statement figures – 5-year overview
APPENDIX – Financial key figures Key income statement figures – 5-year overview CHF million HY|2020 HY|2021 HY|2022 HY|2023 HY|2024 Δ y-o-y % Net rental income 52.0 55.9 60.0 64.4 62.5 -3.0 Profit from development projects and sale of trading properties 2.7 54.4 3.8 9.0 12.9 +43.3 Net income from re
Slide 31: Calculation of funds from operations (FFO) per share
APPENDIX – Financial key figures Calculation of funds from operations (FFO) per share CHF million HY|2023 HY|2024 Operating result (EBIT) 50.8 83.3 + Depreciation and amortisation 1.4 1.2 + Amortisation of lease incentives 1.1 1.2 – Effect of rental income recognition on a straight-line basis -0.2 -
Slide 32: 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 30.06.2024 43.1 30.06.2024 87.6 30.06.2024 5.6x min. max. 40-50% 150%1 2.0x1 31.12.2023 42.3 31.12.2023 83.9 31.12.2023 6.1
Slide 33: 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 Shares of the five biggest tenants % % Q3 2024 - Q2 2025 14.0 1 2 Q3 2025 - Q2 2026 10.5 4.8 3 2.6 4 1 SV Group 2.6 5 Q3 2026 - Q
Slide 34: Broadly diversified portfolio throughout Switzerland
APPENDIX – Real estate portfolio and pipeline Broadly diversified portfolio throughout Switzerland Investment portfolio Development portfolio Fair value in CHF million Planned investment volume in CHF million 02.08.2024 | Presentation half-year results 2024 34
Slide 35: 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 Site Target 2024 2025 2026 Usage fair value investment rental income Project status as at 30 June 2024 area in m2 ret
Slide 36: 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 Number of Site Project status 2024 2025 2026 investment sales proceeds units area in m 2 as at 30 June 2024 CHF million CHF million Horgen, Allm
Slide 37: Largest investment properties in the portfolio (residential)
APPENDIX – Real estate portfolio and pipeline Largest investment properties in the portfolio (residential) Portfolio snapshot – Most valuable residential properties Highlights residential portfolio1 › 43 residential investment properties. › Fair value of CHF 1,565 million. 192 148 105 93 › CHF 54.2
Slide 38: Largest investment properties in the portfolio (commercial)
APPENDIX – Real estate portfolio and pipeline Largest investment properties in the portfolio (commercial) Portfolio snapshot – Most valuable commercial properties Commercial portfolio highlights2 › 66 commercial investment properties. › Fair value of CHF 1,576 million. › CHF 87.0 million target rent
Slide 39: Quality matrix Mobimo residential properties according to JLL
APPENDIX – Real estate portfolio and pipeline Quality matrix Mobimo residential properties according to JLL Assessment macro location Assessment criteria Macro location 4.28 General quality of the location, transport links in the region, purchasing power of the population. and tax attractiveness. Lo
Slide 40: Quality matrix Mobimo commercial properties according to JLL
APPENDIX – Real estate portfolio and pipeline Quality matrix Mobimo commercial properties according to JLL Assessment Assessment criteria macro location Macro location General quality of the location, transport links in the region, purchasing power of the population and tax attractiveness. Location
Slide 41: Mobimo on the capital market
APPENDIX Mobimo on the capital market 5-year share performance (indexed) compared with SPI and SXI Mobimo (CH0011108872); dividend-adjusted › The dividend-adjusted share price has increased by SPI 18.8% over a five-year period. The Swiss Performance 140 SXI Real Estate All Shares TR Index (SPI) and
Slide 42: Broadly diversified shareholder base
APPENDIX Broadly diversified shareholder base Composition of shareholders % › Free float as at 30 June 2024: 100% (as defined by SIX Swiss Exchange) 1 › As at 30 June 2024, the following shareholders held 3% or more 22.4 of the share capital: › UBS Fund Management (Switzerland) AG 12.9%. 5 37.1 › Bl
Slide 43: Mobimo Holding AG
Mobimo Holding AG Rütligasse 1 CH-6000 Luzern info@mobimo.ch +41 41 249 49 80