Swiss real estate company SF Urban Properties reported a stable first-half result for 2026, with net profit including revaluations declining slightly to 20.9 million francs from 21.6 million a year earlier.
The revaluation component totaled 15.6 million francs, down from 16.6 million in the prior period. Excluding revaluation effects, net profit rose 1.2% to 8.3 million francs. Property income fell 3.1% to 15.4 million francs, attributed to the completed portfolio rotation. Vacancy rates remained low at 1.8%, compared with 1.9% at the end of 2025.
The market value of the income-generating portfolio increased 1.8% to 837.6 million francs from the end of 2025. EBIT contributions from the promotions segment amounted to 1.6 million francs, with projects on Minervastrasse in Zurich and Alte Landstrasse in Rüschlikon transferred to new owners as planned.
Overall operating profit (EBIT) remained flat at 30.7 million francs year-over-year. The portfolio restructuring, now concluded, shifted focus to urban locations in Zurich and Basel. In early July, SF Urban sold two properties in Schlieren and St. Gallen, generating a gain of 3.6 million francs.
The company will not proceed with a capital increase approved by shareholders, which was intended for the purchase of a commercial property in Zurich. The planned transaction was not completed, and no suitable replacement was identified. SF Urban maintained its outlook, reiterating expectations for a recovery in normalized earnings per share to 2024 levels and projecting a 1.8 million franc contribution from the promotions segment for the full year.
