Mobimo Holding AG
- WKN: 930290
- ISIN: CH0011108872
- Land: Schweiz
Nachricht vom 06.03.2012 | 06:50
Mobimo produces record result - profit up 22% to CHF 80.5 million
Mobimo Holding AG / Key word(s): Final Results 06.03.2012 06:50 Release of an ad hoc announcement pursuant to Art. 53 KR --------------------------------------------------------------------------- P r e s s r e l e a s e Mobimo produces record result - profit up 22% to CHF 80.5 million * Operating result (EBIT) up by 18% to CHF 121.1 million * Good results across the board * Rental income stable and vacancy rate down to 3.3% * Full project pipeline - basis for more growth * Dividend of CHF 9.00 per share proposed again Lucerne, 6 March 2012 - Mobimo Holding AG ('Mobimo') posted a record result for the 2011 financial year. EBIT rose by 18% to CHF 121.1 million (2010: CHF 102.2 million) and net profit increased by 22% to CHF 80.5 million (2010: CHF 66.0 million). Earnings per share of CHF 15.46 (2010: CHF 13.01) - or earnings per share prior to revaluation of CHF 9.53 (2010: CHF 8.70) - allow Mobimo to once again propose a distribution to shareholders of CHF 9.00 per share. Growth strategy continues to be successful Mobimo completed several construction projects in the year under review, improved the quality of its investment portfolio and, in completing the Mobimo Tower, reached another milestone in the company's history. This dynamic activity led to net income from revalua-tions of CHF 41.2 million (2010: CHF 29.1 million). Proceeds from the sale of condominiums (trading property) rose to CHF 22.3 million (2010: CHF 8.4 million). In all, apartments were sold for CHF 133.0 million. Although net rental income was virtually unchanged at CHF 76.0 million (2010: CHF 79.2 million), the quality of the rental income was significantly higher. The reduction in rental receipts resulting from extensive sales of investment properties was largely offset by new rental income from the development of real estate for the company's own portfolio. The investment properties completed in 2011 offer potential rental income of around CHF 16.5 million per year. A total of eight properties were sold for CHF 89.6 million in the year under review, yielding a net profit of CHF 2.5 million. The related optimisation of the portfolio and the strong demand for rental space led to a very low vacancy rate in the investment portfolio of 3.3% (2010: 5.1%). The real estate portfolio reported a total value of CHF 2,171.2 million (2010: CHF 2,011.9 million) as of the reporting date of 31 December 2011, of which CHF 1,468.6 million (2010: CHF 1,334.7 million) related to investment properties and CHF 702.6 million (2010: CHF 677.2 million) to development projects. Attractive project pipeline The targeted development of attractive residential and commercial properties ensures that Mobimo will continue to grow. Properties destined for the company's own investment portfo-lio with an investment volume of around CHF 340 million are currently under construction or close to completion. These additions will generate further potential rental income of around CHF 19.4 million a year. There are plans for more projects for the company's own portfolio with an investment volume of around CHF 660 million. The most significant building projects include those at Torfeld Süd in Aarau, La Poste in Lausanne, Am Pfingstweidpark in Zurich, the Labitzke site in Zurich acquired in 2011, and the newbuild of an apartment complex in Regensdorf. Within condominium business, projects with a value of CHF 270 million are under construc-tion, and further projects with a value of CHF 330 million are at the planning stage. Mobimo's development expertise is appreciated in the market. Not only did it lead to Mobi-mo acquiring new promising projects, but it also prompted the company to decide to offer institutional and private investors development services of all kinds, including turnkey in-vestments, in its new 'Third-Party Investments' business area, starting on 1 January 2012. Solid financing and a high equity ratio Mobimo succeeded in noticeably lengthening the average residual term of its financial liabil-ities from 5.1 to 9.2 years at extremely advantageous conditions. Around CHF 193 million of new own funds flowed into the company in December 2011 as a result of a successful capital increase. The equity ratio at year-end stood at a solid 47%. Shares producing good returns Mobimo shares closed at a price of CHF 208.00 on 31 December 2011: this equates to a total performance of 10% when the dividend of CHF 9.00 per share is included. Dividend proposal The company's good annual result enables it to continue with its shareholder-friendly divi-dend policy. The Board of Directors will propose to the General Meeting to be held on 18 April 2012 that it once again approve a distribution of CHF 9 per share (tax-efficient for Swiss shareholders with shares held as part of their personal assets). Outlook for 2012 Mobimo is confident about the new financial year despite the challenging economic envi-ronment. It will focus on realising its various building projects, marketing space, selling con-dominiums and selectively adding to the project pipeline. Detailed reporting You can find the Annual Report 2011 on our website at Investor Relations / Reporting or on the homepage at www.mobimo.ch. (Link: http://ir.mobimo.ch/websites/mobimo2011/English/40/reporting.html) Telephone conference for analysts and media today at 2.00 p.m. A telephone conference for analysts and the media will be held today at 2.00 p.m. (in Eng-lish). Dr. Christoph Caviezel (CEO) and Manuel Itten (CFO) will be presenting the results and will be available to answer questions. Registration is not required. Telephone no.: +41 22 592 73 12 / conference ID: 4517188 You can view the associated PowerPoint presentation on the homepage at www.mobimo.ch. For enquiries please contact: Mobimo Holding AG Dr. Christoph Caviezel, CEO Manuel Itten, CFO +41 44 397 11 86 email@example.com www.mobimo.ch About Mobimo Mobimo Holding AG was established in Lucerne in 1999 and has been listed on the SIX Swiss Ex-change since 2005. The Mobimo Group has an attractive portfolio mix of investment properties providing stable income and development properties offering extensive value enhancement potential. Investments are targeted mainly in the promising locations of Zurich and Lausanne/Geneva and in the economic regions of Basel, Lucerne/Zug, Aarau and St. Gallen. With a property portfolio that has an overall value of just under CHF 2.2 billion, Mobimo is one of the leading real estate companies in Switzerland. The portfolio contains development properties with an investment volume of more than CHF 1 billion up to 2015 (as at 31 December 2011). 06.03.2012 News transmitted by EquityStory AG. The issuer is responsible for the contents of the release. EquityStory publishes regulatory releases, media releases on the capital market and press releases. The EquityStory Group distributes authentic and real-time financial news for over 1'300 listed companies. The Swiss news archive can be found at www.equitystory.ch/news ---------------------------------------------------------------------------
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