Mobimo Holding AG

Investor Presentation • Feb 14, 2013

PRESENTATION RESULTS 2012

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. This information or any copy thereof may not be sent or taken to or distributed in any jurisdiction in which such transmission or distribution is unlawful. This document may contain certain 'forward-looking' statements. By their nature, forwardlooking statements involve risk and uncertainty because they relate to future events and circumstances. Actual outcomes and results may differ materially from any outcomes or results expressed or implied by such forward-looking statements.

AGENDA

• Welcome / Introduction Christoph Caviezel, CEO
• Notes on key financial figures Manuel Itten, CFO
• Business performance 2012 / Outlook Christoph Caviezel, CEO

AGENDA

•	Portfolio	Quality (locations, use, quality of construction)
•	Growth and added value	Production of own properties Condominium Investments for third parties
•	Safeguarding the future	Site development Employees. Training and motivation Sustainability
•	Profit quality	Cash Operational value appreciation
•	Financing	High equity ratio Diversified credit portfolio Long-term hedging
•	Profitability	Stable return
•	Market	Management of opportunities and risks

A GOOD YEAR 2012

in CHF	31.12.2012	31.12.2011	31.12.2010
Net profit	76.0 m.	80.5 m.1)	66.0 m
Earnings per share	12.33	15.46	13.01
Total value of portfolio	2,355 m.	2,171 m.	2,012 m.
Distribution2)	9.00	9.00	9.00

1) The 2011 results included a one-time positive effect under tax expense totalling CHF 5.5 million

2) Distribution of paid-in capital for 2012 financial year of CHF 9 per share in accordance with proposal to General Meeting of 9 April 2013

Presentation Results 2012

CONSTANT DIVIDEND DISTRIBUTION OF CHF 9 DESPITE SLIGHTLY VOLATILE PROFITS

Presentation Results 2012

DEVELOPMENT EXPERTISE REFLECTED IN A PREMIUM OVER NAV

P/D development over 3 years

7

AGENDA

• Welcome / Introduction Christoph Caviezel, CEO
• Notes on key financial figures Manuel Itten, CFO
• Business performance 2012 / Outlook Christoph Caviezel, CEO

KEY FINANCIAL FIGURES I

in CHF m.	31.12.2012	31.12.2011	31.12.2010
Net income, rentals	21.7	22.3	8.4
Net income, trading properties	79.8	76.0	79.2
Net income, revaluations	36.91)	41.2	29.1
Sales income, investment properties	-0.1	2.5	5.4
Tax expense	-17.8	-11.9	-11.9
Profit	76.0	80.5	66.0

1) Most of the positive revaluation income of CHF 36.9 million derives from operating performance. The completion of properties under construction and the development of investment properties as well as the successful new lettings made a contribution of CHF 20.5 million. The positive performance of the Swiss property market accounted for about a further CHF16.4 million of the change in value

Presentation Results 2012

DISTRIBUTION OF NET INCOME FROM REVALUATION

Presentation Results 2012

KEY FINANCIAL FIGURES II

in CHF	31.12.2012	31.12.2011	31.12.2010
EBITDA	118.7 m.	122.4 m.	103.5 m.
EBIT	117.4 m.	121.1 m.	102.2 m.
Profit	76.0 m.	80.5 m.	66.0 m.
Return on equity	6.7%	8.5%	7.1%

PROPERTY PORTFOLIO

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DEVELOPMENT OF MOBIMO NAV 2005 – 2012

SOLID FINANCING

	Target	31.12.2012	31.12.2011	31.12.2010
Equity ratio	> 40%	48%	47%	45%
Interest coverage factor	> 2.0	3.0	3.0	3.0
Net gearing	< 150%	80%	69%	92%
Average interest rate		3.0%	3.0%	2.9%
Average residual maturity		9.1 years	9.2 years	5.1 years

1) An interest rate of 2.8% applied as at 31.12.2012

MATURITY PROFILE OF FINANCIAL LIABILITIES

1) Non-current financial liabilities include the convertible bond with a carrying amount of CHF 165.7 million (nominal value: CHF 168.7 million) maturing on 30 June 2014 in addition to mortgage liabilities

KEY FIGURES FOR PROPERTY PORTFOLIO

	31.12.2012	31.12.2011
Gross yield on investment properties	5.8%	6.0%
Net yield on investment properties	4.8%	5.0%
Investment property vacancy rate	3.8%	3.3%

CHANGE IN YIELD SPREAD (INVESTMENT PROPERTIES)

SHARE DATA

in CHF	31.12.2012	31.12.2011	31.12.2010
Average no. of shares	6,191,784	5,202,626	5,074,232
Share capital	180.1 m.	178.9 m.	148.8 m.
Market capitalisation	1,359.1 m.	1,283.4 m.	1,024.7 m.
Year-end share price	218.90	208.00	189.13
Distribution	9.00	9.00	9.00
Payout ratio	73%	58%	69%
Earnings per share	12.33	15.46	13.01
NAV per share1)	194.25	191.41	190.45

1) Assuming all options granted and conversion rights are exercised

SHARE PRICE PERFORMANCE OVER 3 YEARS1)

SELECTED THEMES 2012

• New IFRS 13 fair value measurement standard

• Preliminary assessment of the impact of IFRS13 on the investment properties valuation

• EPRA confers award on Mobimo Annual Report

• Adherence to best practice recommendations and "Most Improved Annual Report"

• First convertible bond conversions

• 1,269 convertible bonds were converted (out of a total 35,000)

• Inclusion of the share in the Stoxx 600

• Following the Mobimo share's inclusion in the FTSE EPRA / NAREIT in the previous year, the share has since been included in the European equity benchmark Stoxx 600 index

• Low vacancy rate

• The vacancy rate is 3.8%

AGENDA

• Welcome / Introduction Christoph Caviezel, CEO
• Notes on key financial figures Manuel Itten, CFO
• Business performance 2012 / Outlook Christoph Caviezel, CEO

THE PORTFOLIO AS AT 31 DECEMBER 2012

PROPERTY PORTFOLIO BY ECONOMIC AREA

TARGET RENTAL INCOME BY TYPE OF USE

1)

1) Other use mainly includes: car parks and ancillary uses

THE FIVE BIGGEST TENANTS

MATURITY PROFILE OF RENTAL CONTRACTS1)

Av. remaining term: 6.2 years

1) Not including rental contracts of unlimited duration

INVESTMENT PROPERTIES PORTFOLIO AS AT 31.12.12

THE 15 BIGGEST PROPERTIES (MARKET VALUE TOTAL CHF 936 MILLION)

Address	Market value 31.12.12 in TCHF	Use
Turbinenstrasse, Zurich (Mobimo Tower / Hotel)	131,910	Hotel
Avenue d'Ouchy 4-6, Lausanne (La Poste)	111,700	Offices/ retail (Development)
Turbinenstrasse Baufeld C, Zurich	78,240	Residential (under construction)
Rue Beau-Séjour, Lausanne	77,240	Residential
Leubernstrasse 3, Kreuzlingen	66,660 28	Shopping centre Presentation Results 2012

THE 15 BIGGEST PROPERTIES (MARKET VALUE TOTAL CHF 936 MILLION)

Address	Market value 31.12.12 in TCHF	Use
Voie du Chariot 4-7 Lausanne	60,720	Offices/ retail
Hardturmstrasse 3/5, Zurich	58,560	Offices
Seestrasse 43 – 69, Horgen	54,950	Residential
Manessestrasse 190/192, Zurich	50,850	Residential
Stauffacherstrasse 41, Zurich	48,470 29	Offices Presentation Results 2012

THE 15 BIGGEST PROPERTIES (MARKET VALUE TOTAL CHF 936 MILLION)

Address	Market value 31.12.12 in TCHF	Use
Katzenbachstrasse 221-231, Zurich	46,160	Residential
Port-Franc/Rue de Genève, Lausanne	44,160	Offices/ retail
Sternmatt 6, Kriens	37,630	Offices/ commercial
Seestrasse 93 (Meilenwerk), Horgen	34,700	Vintage car centre, hotel/services (development)
Albula- Hohlstrasse, Zurich	33,920 30	Residential (in planning) Presentation Results 2012

MOBIMO BUSINESS MODEL

DEVELOPMENT – A CORE COMPETENCE AT MOBIMO

Development properties

• Construction of investment properties for own portfolio
• Construction and sale of condominiums
• Achieving added value on existing properties held
• Safeguarding the future: site development

Investments for Third Parties

• Mobimo acts as a service provider offering development services up to and including turn-key investment properties for private and institutional investors

BUILDING COMPLETIONS 2012

Aarau, Polygon Adliswil, Wilacker

Zurich, Schilf

Investment total approx. CHF 100 million

• 68 condo residential units (63 already sold as at 31 December 2012)
• 4,000m² office (already 100% let

PROJECT PIPELINE

Development and construction of investment properties for own portfolio

Under construction : CHF 440 m. In planning: CHF 670 m. 2012 2013 2014 2015 2013 2014 2015 2016

Development, construction and sale of condominiums

PROJECT PIPELINE – INVESTMENT PROPERTIES UNDER CONSTRUCTION (APPROX. CHF 440 M.)

PROJECT PIPELINE – CONDO PROPERTIES UNDER CONSTRUCTION (APPROX. CHF 220 M.)

Dates: start to end of construction

BUILDING STARTS 2012

Lausanne, Rue Voltaire (Petit Mond Riond) Regensdorf, Im Pfand

Affoltern a. A., Obstgarten Affoltern a. A., retirement home Lausanne, Pépinières

Zurich, im Brächli (Collina)

Investment total approx. CHF 260 million

• 62 condo residential units, 219 rental residential units, 48 retirement apartments
• 1 retirement home with 120 rooms
• 5,600m² commercial, office etc.

PLANNED BUILDING STARTS 2013

Horgen, Meilenwerk

Zurich, Badenerstrasse 595

Lucerne, Büttenenhalde Feldmeilen, Feldgüetliweg

Investment total approx. CHF 180 million

• 79 condo residential units
• 1 vintage car centre, hotel with 102 rooms

PROJECT PIPELINE – INVESTMENT PROPERTIES IN PLANNING (APPROX. CHF 670 M.)

	2013	2014	2015	2016
Aarau, Torfeld site 2*			approx. 120 apartments, offices, commercial
Kriens, Mattenhof site*			Business city
Lausanne, Côtes-de-Montbenon* 1)				Commercial, residential
Lausanne, Rue de Genève 19/21*				Commercial, offices, residential
Lausanne, Avenue d'Ouchy 4-6 *				La Poste, urban development
Lausanne, Rue de la Vigie 3* 1)			Commercial
Zurich, Labitzke site*			approx. 200 apartments, commercial
Zurich, Letzigraben* 1)		Residential
				Dates: start to end of construction

* Building land with interim use and rental income

1) Development from portfolio

PROJECT PIPELINE – CONDO PROPERTIES IN PLANNING (APPROX. CHF 320 M.)

INVESTMENT FOR THIRD PARTIES – DÜBENDORF SONNENTALSTRASSE

Site area: 11,000 m²

Use:

240 rental apartments for third parties planned

Investment: approx. CHF 115 million

Location:

In the immediate vicinity of Stettbach train station, the Glattal tram and the motorway access road

SITE DEVELOPMENT

Aarau Lausanne Poste Lausanne Flon-Areal

Lucerne South Biel Zurich-Oerlikon

SITE DEVELOPMENT – AESCHBACH DISTRICT AARAU "AQA"

Site area:

47,000 m²(plus park 4,000 m² )

Use:

1,100 workplaces 390 apartments (condos and rentals), retail, catering, commercial

Investment (excl. GastroSocial) approx. CHF 170 million

Location: Central, next to Aarau main station

SITE DEVELOPMENT – LAUSANNE LA POSTE

Site area:

19,000m² (of which 12,000 m² Mobimo)

Use: Offices, hotel, apartments (condos/rentals), retail, catering (joint project with SBB)

Investment: approx. CHF 200 million

Location:

Directly next to Lausanne train station

SITE DEVELOPMENT – LAUSANNE "FLON VISION 2025"

Site area: 55,000 m²

Use:

Further development and addition to the Flon district

Investment: approx. CHF 200 million

Location:

Central, in direct vicinity of the underground station

SITE DEVELOPMENT – LUCERNE SOUTH MATTENHOF

Site area: 28,000 m²

Use:

Offices, residential, hotel, retail, catering, commercial

Investment: approx CHF 255 million

Location:

Directly next to Mattenhof train station and in immediate vicinity of the motorway access road

SITE DEVELOPMENT – BIEL AGGLOLAC

Gross floor space: 110,000 m²

Use:

Development of a new city district with residential, work, catering, hotel, retail and commercial use (PPP project with the cities of Nidau and Biel)

Investment: approx CHF 350 million

Location:

In immediate vicinity of the lake and near the train station

SITE DEVELOPMENT – RHEINMETALL ZURICH

Site area: 53,000 m²

Use:

Residential, office, commercial, catering, events

Investment: approx CHF 500 million

Location: In immediate vicinity of Oerlikon train station

MARKET – OPPORTUNITIES AND RISKS

• Price and cost-driving factors
• Low financing costs
• Good functioning credit market
• Intact demand for tangible assets
• Anticyclical behaviour of the public sector
• No value adjustments in sight
• Demand for residential property, continued opportunities for the sale of condominiums, competition with rentals
• Switzerland remains an attractive country for immigrants
• Regulatory restrictions
• Competition increasing: location and quality the winning factors
• Companies remain under cost-cutting pressure
• Pressure on office rents

SOLID RISK MANAGEMENT

• Rising interest rates Hedging via long-term financing and long-term interest rate hedges
• Demand for residential property on the decline
• Cut-throat competition to gain impressive products in good locations. Mobimo is well positioned with its offerings
• Newbuilds: no construction without rentals or advance sales

• Purchase opportunities

• Increase in the reference interest rate

• Passed on to apartment or commercial rents (adjusted to the country index / consumer prices)

SOLID RISK MANAGEMENT

• Value adjustment on property portfolio
• Decline in immigration

• Sufficient equity to absorb any value adjustments

• Decline in rental demand, slowdown of apartment demand. Reduction or slowdown in production

• Fall in demand for space
• Own management
• Mid-price segment

SUSTAINABILITY

• Sustainability Report
• GRI (Global Reporting Initiative) Guidelines followed
• Certificate B
• Our real estate business and our sustainability efforts are guided by exactly the same principles and values.

OUTLOOK: FOCAL POINTS OF OPERATIONS IN 2013

• Bringing various building projects closer to completion
• Increase in rental income
• Marketing of condominiums
• Further building up the "Investment for Third Parties" business area
• Further developments in project pipeline
• Ongoing quality optimisation of the portfolio
• Sound risk management

MOBIMO: FIT FOR THE FUTURE

• Stable income

High-value portfolio of very well-located properties. Well-diversified. Low vacancy rate.

• Growth and rising income Attractive investment pipeline at top locations

• Security High equity ratio and long-term financing

• Expertise

A capable and committed Mobimo team

CONTACT DETAILS

Christoph Caviezel, CEO Tel. 044 397 11 56 christoph.caviezel@mobimo.ch

Manuel Itten, CFO Tel. 044 397 11 44 manuel.itten@mobimo.ch

Edwin van der Geest Media and IR ir@mobimo.ch