CONSOLIDATED INCOME STATEMENT

CHF 1,000

Note

1st half 2026

1st half 2025

Revenue

2.3

41,464

38,811

Direct expenses

–11,433

–10,745

Personnel expenses

–2,159

–2,416

Other operating expenses

–1,154

–1,203

Operating profit before revaluations, disposal of properties, depreciation and amortisation

26,718

24,446

Revaluation of investment properties

2.2

43,683

70,515

Income from disposal of properties

2.4

-

812

Depreciation and amortisation

–53

–62

Operating profit (EBIT)

70,348

95,712

Result from associates

–20

943

Financial income

10,216

93

Financial expenses

–2,889

–3,535

Financial result

3.1

7,307

–2,499

Profit before taxes

77,656

93,213

Income taxes

–10,070

–12,998

Net profit

67,586

80,215

Earnings per share in CHF (basic/diluted)

1.2

5.29

6.28

The disclosures in the notes form an integral part of the consolidated financial statements.