immo!nvest – Die Plattform für Standorte und Immobilien

Category: Interest Rates / Capital Markets

  • Energy provider reports declining results alongside rising investments

    Energy provider reports declining results alongside rising investments

    According to a press release,Repower achieved a total operating performance of CHF 1986 million in 2025. This was 20 per cent less than in the previous year. The operating result before interest and taxes fell by 24 per cent to CHF 133 million, while Group profit fell by 27 per cent to CHF 101 million. According to the press release, the international energy trading business made the largest contribution to earnings. At the same time, the Graubünden-based energy supplier increased its investments by 80 per cent to 142 million. The equity ratio rose from 53 to 59 per cent.

    The low rainfall in spring 2025 in particular had a negative impact on Repower’s result. The wind farms in Italy and Germany also recorded a slight decline. The Teverola gas-fired combined-cycle power plant was out of operation for an extended period. Only solar production increased significantly in 2025. According to the press release, Repower produced a total of 2147 gigawatt hours of electricity in 2025. In the previous year, this figure was 2639 gigawatt hours.

    Repower achieved a very strong result of CHF 371 million and a profit of CHF 300 million in 2023. However, the company also reported a very good annual result for 2025. This was above the long-term average. The company also expects a good result for 2026.

  • Consumer confidence collapses

    Consumer confidence collapses

    The decline is abrupt. In January and February 2026, the index was still at around – 30 points, slightly above the previous year’s level. The slump in March to – 43 points is therefore one of the sharpest monthly declines in recent years. The turnaround came quickly and affected several areas simultaneously.

    Where sentiment has tipped the most
    Three of the four SECO sub-indices are clearly below the level of March 2025. Expectations regarding economic development have slumped the most. The expected financial situation of households and the willingness to make major purchases have also fallen significantly. Only the view of the past financial situation remained stable compared to the previous year.

    Geopolitics as a mood killer
    The war in Iran and the associated rise in oil prices are seen as the main triggers. Inflation expectations jumped sharply in March: from 98.3 to 121.4 points. At the same time, unemployment expectations rose. Both are having a direct and noticeable impact on household confidence.

    What this means for consumption
    Falling consumer sentiment is not just a statistical signal. It shows that households are postponing major expenditure and opting for security. For the retail trade, real estate market and construction industry, this means less stimulus from domestic consumption, at least in the short term. Trading Economics expects a gradual recovery to around – 34 points by mid-2026 and – 26 points by 2028.

    Whether sentiment recovers depends heavily on the geopolitical situation and price trends. The Swiss economy has been robust so far, but consumer confidence is a leading indicator. If the buying mood remains subdued, the growth figures usually follow with a delay.

  • Federal government conducts consultation on location promotion

    Federal government conducts consultation on location promotion

    The Federal Council has opened a consultation process on the message on location promotion for the first time. According to a statement, it is set to run until 1 June 2026. The Federal Council is submitting five financing decisions to Parliament for the years 2028 to 2031, with a total volume of CHF 392.21 million. Location promotion is to be carried out through SME policy, tourism policy, regional policy, export promotion and location promotion.

    The focus is on three key areas of location promotion: reducing the administrative burden on SMEs through digitalisation, facilitating SMEs’ access to international markets and, finally, strengthening the regions economically. Among other things, the expansion of the EasyGov.swiss platform will create a marketplace for digital services provided by the federal government and the cantons. With regard to international markets, the federal government supports export-oriented companies with information, advice and the use of export risk insurance. In the area of regional location promotion, the federal government supports tourist destinations and economic projects in rural areas, mountain regions and border regions.

    Despite the high budget, planning shows a decline of 5.2 per cent compared with the previous period, taking into account the special Covid and recovery payments and the 2027 relief package.

  • First consultation on location promotion

    First consultation on location promotion

    For the first time, the dispatch on location promotion will be submitted to a consultation procedure, which will run until 1 June 2026. For the years 2028-2031, the Federal Council is requesting five financing decisions amounting to CHF 392.21 million, compared to CHF 428.83 million in the period 2024-2027. The instruments remain the same: SME policy, tourism policy, regional policy, export promotion and location promotion. The bottom line is that the budget, adjusted for special Covid payments and the 2027 relief package, will fall by around 5.2 percent.

    Easing the digital burden on SMEs
    One focus is on easing the administrative burden on SMEs by expanding digital government services. The core component is Easy-Gov.swiss, which is to be further developed into a marketplace for digital services from the federal government and cantons and positioned as a standard infrastructure for a “digital government” for companies. The aim is to simplify procedures, reduce duplication and ensure more efficient cooperation between the administration and business.

    Access to international markets
    Export promotion should provide SMEs with targeted support when entering new foreign markets and expanding existing ones. In an environment with increasing export hurdles and volatile framework conditions, there is a greater focus on information, advice, risk diversification and export risk insurance. At the same time, SMEs should be able to make better use of the opportunities offered by new and existing trade agreements.

    Strengthening regions as economic and living spaces
    The federal government wants to support economic development in all parts of the country with its location promotion. It promotes tourism destinations and economically oriented projects in rural and border regions. This enables them to remain attractive places to live and work. In this way, the Federal Council combines growth impulses for SMEs with balanced regional development.

  • Renewable energies drive long-term strategy

    Renewable energies drive long-term strategy

    The Zurich Cantonal Electricity Works (EKZ) has had a challenging financial year in 2024/25. According to the annual report, total output fell by only 4.2 per cent to 1,176.4 million Swiss francs. However, operating profit before interest and taxes fell by 64.9 per cent to 18.8 million.

    Nevertheless, profits rose by 24.9 per cent to CHF 186.3 million. According to astatement, this is a result of the company’s investments in the electricity producer Axpo and the Graubünden cantonal utility Repower. The canton and the municipalities with a stake in EKZ will receive a distribution of CHF 46.6 million, around CHF 9 million more than in the previous year.

    The decline in operating income is partly due to the drop in electricity production in Germany and France. Wind power production fell by 14.9 per cent to 517.9 gigawatt hours, while solar power production from photovoltaics fell by 11.5 per cent to 253.2 gigawatt hours.

    EKZ has continued to invest in the expansion of renewable energies in Switzerland. The Madrisa Solar plant in Klosters GR was partially connected to the grid. In Embrach ZH, construction began on the solar plant on the roofs of Embraport. In addition, 4,886 new private solar plants with a total output of 100.5 megawatts were connected to the grid. In the previous year, there were 3,839 systems with 77.7 megawatts. In addition, around 17,500 parking spaces in underground car parks were equipped with EKZ’s charging management system.

    Urs Rengel speaks of a strong annual result. “Uncontrollable fluctuations due to weather, prices, demand and market developments are part of today’s energy system and are likely to continue to increase significantly, both to the benefit and detriment of EKZ,” the EKZ CEO is quoted as saying in the press release. “Investments in production facilities have a long time horizon and we are convinced that they will make a valuable contribution in the long term.”