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Press release allreal Ad hoc announcement pursuant to Art . 53 of the Listing Rules Allreal significantly increases its net oper- ating profit in the first half of the year Net operating profit rises by 20.8 % to CHF 75.6 million ( H1 2025 : CHF 62.6 mil- lion ) Portfolio optimisation generates gains on sales of CHF 15.7 million and im- proves long - term rental income potential Positive revaluation effect of CHF 40.8 million ( H1 2025 : CHF 70.3 million ) Stable key balance sheet figures and successful financing Outlook for 2026 confirmed Glattpark , 24 August 2026 : Allreal's net operating profit increased by 20.8 % to CHF 75.6 million in the first half of 2026 ( H1 2025 : CHF 62.6 million ) . Besides earnings from sales of smaller residential properties , the improved result can also be attributed to stable rental income , earnings from Realisation and sales of condominiums . The financial expense fell by 6 % compared with the previous year . Once again , the portfolio underwent a positive revaluation of CHF 40.8 million ( H1 2025 : CHF 70.3 million ) . In- cluding revaluation effect , net profit amounted to CHF 105.6 million ( H1 2025 : CHF 116.8 million ) . Improved quality of rental income and portfolio focus In February , Allreal purchased a large office building on Rue du Grand - Pré in Geneva . The property will generate annual rental income of CHF 7.8 million per year and the track record of the tenants ensures a high degree of stability and creditworthiness . At the same time , six smaller residential properties in Western Switzerland were sold , as well as the property on Efringerstrasse in Basel at the end of June . The sale of residen- tial properties in Geneva and Basel resulted in earnings from sales of CHF 15.7 million in the first half of 2026. Overall , the changes to the portfolio strengthen the earnings base and bring the asset mix in French - speaking Switzerland into line with that of the Group . The market value of the portfolio as at the balance sheet date was around CHF 5.36 billion , and thus above the level as at the end of the previous year ( CHF 5.27 billion ) . Allreal's investment properties generated rental income of CHF 102.6 million in the re- porting period ( H1 2025 : CHF 103.5 million ) . The cumulative vacancy rate increased slightly compared with the end of the year to stand at 3.6 % ( 31.12.2025 : 3.4 % ) . The increase is mainly attributable to the spaces that are free in the property on Frei- burgstrasse in Bern , an office building at Geneva Airport and on the Richti site in Wal- lisellen . Over the year , Allreal still assumes that the vacancy rate will be lower . Direct expenses for rented investment properties declined by 12.1 % year on year to CHF 9.4 million ( H1 2025 : CHF 10.7 million ) . Correspondingly , the expense ratio was also down , standing at 9.2 % . The net yield on the total portfolio was 3.6 % . Ultimately , the Real Estate segment generated net operating profit of CHF 72.0 million , which was higher than in the previous year ( H1 2025 : CHF 57.8 million ) . Development & Realisation improves result and strengthens pipeline and quality of portfolio Allreal's Development & Realisation segment generated earnings from business activ- ities of CHF 25.9 million ( H1 2025 : CHF 26.0 million ) . The result is mainly driven by higher earnings from Realisation and earnings from selling condominiums .