Zug Estates Holding AG reported a 33% year-on-year decline in first-half net income to CHF 42.90 million, driven by a smaller revaluation gain compared to the prior period. Excluding revaluation and special effects, net income rose 6.6% to CHF 50.1 million.
The Swiss real estate developer maintained a low vacancy rate of 1.2% in the first half, with property income remaining stable due to index-linked adjustments and compensation offsetting the impact of reference interest rate reductions. The hotel and catering segment contributed to growth, supported by higher occupancy rates and strong demand for catering services, which lifted both revenues and profitability in that division.
For the full year 2026, Zug Estates expects property income from its real estate segment to fall slightly below the prior year’s level. Hotel and catering revenues are projected to remain stable, though profitability in that segment is anticipated to decline marginally. Excluding revaluation and special effects, the company forecasts net income to increase modestly for the year.
