Mobimo Holding AG — Investor Presentation 2012

Aug 16, 2012

PRESENTATION FIRST HALF OF 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.

HIGHLIGHTS

• The first half-year operating result (EBIT) that exceeds CHF 60 million
• Increase of 15% in net income to CHF 39.6 million
• Increase in rental income following portfolio adjustments
• Acquisition of the first major investment for a third party
• Attractive expansion of the project pipeline

AGENDA

• Notes on key financial figures Manuel Itten, CFO
• First Half of 2012 / Outlook Christoph Caviezel, CEO

KEY FINANCIAL FIGURES I

in CHF m.	30.06.2012	31.12.2011	30.06.2011
Profit on sale of trading properties	8.3	22.3	0.5
Net rental income	39.8	76.0	37.1
Net income from revaluation	22.7 1)	41.2	16.6
Profit from sale of invest. properties	-	2.5	1.1
Tax expense	-8.9	-11.9	-1.3
Profit	39.6	80.5	34.5

1) CHF 12.3 million of net income from revaluation is attributable to operating performance, with CHF 8.1 million relating to investment properties under construction and a further CHF 4.2 million mainly coming from successful letting. An additional CHF 10.4 million is attributable to market-driven changes in the discount rate

KEY FINANCIAL FIGURES II

in CHF	30.06.2012	31.12.2011	30.06.2011
EBITDA	61.5 m.	122.4 m.	46.9 m.
EBIT	60.8 m.	121.1 m.	46.2 m.
Profit	39.6 m.	80.5 m.	34.5 m.
Return on equity	6.9 %	8.5 %	7.3 %

BREAK DOWN OF PROFIT FROM REVALUATION

PROPERTY PORTFOLIO AS AT 30 JUNE 2012

DEVELOPMENT OF MOBIMO NAV 2005 - 2012

SOLID FINANCING

	Target	30.06.2012	31.12.2011	30.06.2011
Equity ratio	> 40 %	47 %	47 %	43 %
Interest coverage factor	> 2.0	3.0	3.0	2.3
Net gearing	< 150 %	77 %	69 %	102 %
Average interest rate		3.1 %	3.0 %	3.0 %
Average residual maturity		9.3 years	9.2 years	4.8 years

MATURITY PROFILE OF FINANCIAL LIABILITIES

Ø residual maturity: 9.3 years

Ø interest rate: 3.1%

Total: CHF 1,035 m.

1) Non-current financial liabilities include the convertible bond with a carrying amount of CHF 165.0 million (nominal value CHF 168.9 million) maturing on 30 June 2014 in addition to mortgage liabilities

CHANGE IN YIELD SPREAD (INVESTMENT PROPERTIES)

SHARE DATA

in CHF	30.06.2012	31.12.2011	30.06.2011
Share capital	180.0 m.	178.9 m.	148.9 m.
Market capitalisation	1,360.2 m.	1,283.4 m.	1,117.8 m.
(Half-) year-end share price	219.10	208.00	217.70
Distribution	9.00	9.00	9.00
Earnings per share	6.41	15.46	6.72
per share1) NAV	188.69	191.41	188.28

1) Assuming all options granted and conversion rights are exercised

SHARE PRICE PERFORMANCE OVER 3.5 YEARS1)

AGENDA

• Notes on key financial figures Manuel Itten, CFO
• First Half of 2012 / Outlook Christoph Caviezel, CEO

MOBIMO'S PORTFOLIO AS AT 30 JUNE 2012

INVESTMENT PROPERTIES BY ECONOMIC AREA

TARGET RENTAL INCOME BY TYPE OF USE

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

THE FIVE BIGGEST TENANTS

MATURITY PROFILE OF RENTAL CONTRACTS1)

Ø remaining term: 5.4 years

Presentation Half-Year 2012 ²⁰

1) Not including rental contracts of unlimited duration

KEY FIGURES FOR PROPERTY PORTFOLIO

	30.06.2012	31.12.2011	30.06.2011
Gross yield on investment properties	5.8%	6.0%	5.9 %
Net yield on investment properties	4.9%	5.0%	5.0 %
Investment property vacancy rate	4.1%	3.3%	4.4 %

• Disposal of properties with higher risk premiums = reduction in gross yield

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

Investments for Third Parties

• Mobimo also offers development services for third parties up to and including turn-key real estate investments for institutional and private investors

INVESTMENTS FOR THIRD PARTIES "HOCHBORD DÜBENDORF"

Area:	11,291 m²
Investment:	approx. CHF 120 m.
Type of use:	240 apartments for rent
Construction start:	from mid-2014

PROJECTS COMPLETED FIRST AND SECOND HALF OF 2012

Adliswil, Wilacker

total investment approx. CHF 73 m.

75 apartments (condominiums)

First half of 2012 Second half of 2012

Zürich, Schilf Aarau, Polygon

total investment approx. CHF 45 m.

• 11 apartments (condominiums)
• 4'000 m² office space for approx. 220 people

PROJECT PIPELINE

Development and construction of investment properties for own portfolio

Under construction: CHF 440 m. In planning: CHF 560 m. 2012 2013 2014 2015 2012 2013 2014 2015

Development, construction and sale of condominiums

ACQUISITION FIRST HALF OF 2012 BADENERSTRASSE 595, ZURICH

CONSTRUCTION START, FIRST HALF OF 2012

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

total investment approx. CHF 116 m.

• 42 rental apartments
• 48 retirement apartments
• Retirement home for 120 people
• approx. 9'000 m² : conservatory, sales, office, restaurant

PLANNED CONSTRUCTION START SECOND HALF OF 2012

Horgen, Meilenwerk

Meilen, Feldgüetliweg Zurich, im Brächli

total investment approx. CHF 129 m.

• 31 apartments (condominiums)
• 1 Vintage car centre with catering and event zone / Design Hotel with 100 rooms

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

Dates: start to end of construction

PROJECT PIPELINE – CONDO PROPERTIES UNDER CONSTRUCTION (APPROX. CHF 190 M.)

Dates: start to end of construction

PROJECT PIPELINE – INVESTMENT PROPERTIES IN PLANNING (APPROX. CHF 560 M.)

	2012	2013	2014		2015
Aarau, Torfeld Baufeld 2*					Approx. 150 apartments, offices, commercial
Aarau, Torfeld Baufeld 4*					Residential
Kriens, Mattenhofareal*					Business City
Lausanne, Côtes-de-Montbenon* 1)					Commercial, residential
Lausanne, Rue de Genève 19/21*					Commercial, offices, residential
Lausanne, Avenue d'Ouchy 4-6 *		Building	renovation	/ urban development
3* 1) Lausanne, Rue de la Vigie		Commercial
Zurich, Labitzke-Areal*					220 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 360 M.)

OUTLOOK: FOCAL POINTS OF OPERATIONS IN 2012

• Realising our numerous construction projects
• Selling condominiums
• Expanding our development business
• Space marketing
• Further optimization of the portfolio

MOBIMO: WELL EQUIPPED FOR THE FUTURE

• Stable earnings

• Growth and rising income

• High-quality portfolio of excellent locations. Diversified. Low vacancy rate.

• Attractive investment pipeline to secure prime locations
• Security High equity ratio and long-term financing
• Know-How Competent and committed team Mobimo
• Profitability Share with an attractive return

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