Zueblin Real Estate Holding Ltd

Latest Results (02.09.2026):

Zueblin Real Estate Holding Ltd — financial results for the fiscal year 2023/24 (1 April 2023 to 31 March 2024). For the year ended 31.3.2024 the company reported slightly higher rental income and operating letting income, but a large negative change in market value and higher financial expenses materially reduced profit versus the prior year, leaving reported earnings substantially lower than in 2022/23.

Rental and operating income

Rental income rose modestly to CHF 9,040k (2022/23: CHF 8,836k). Operating income from letting increased to CHF 8,603k (2022/23: CHF 8,265k), while property operating costs and maintenance were broadly stable.

Valuation impact

Change in market value swung to a negative CHF 3,428k in 2023/24 (2022/23: positive CHF 1,100k), representing the single largest drag on results and the main reason for the decline in operating profitability.

Profitability (EBIT and EBT)

Earnings before interest and taxes (EBIT) fell to CHF 2,806k from CHF 7,012k a year earlier. Earnings before taxes (EBT) dropped to CHF 1,197k (2022/23: CHF 6,218k).

Financial expenses

Financial expenses increased to CHF 1,610k (2022/23: CHF 794k), further reducing net results; financial income was negligible (CHF 1k).

Net earnings and EPS

Reported earnings were CHF 1,338k, down from CHF 5,322k in 2022/23. Earnings per share declined to CHF 0.40 (diluted CHF 0.40) from CHF 1.61.

Taxes

Income tax was CHF 141k in 2023/24 versus a tax benefit of CHF 896k in 2022/23, which also contributed to the year-on-year profit reduction.

Information contained in the notes to the consolidated financial statements is an integral part of these results, as stated in the company report.