Züblin posted a good result for the first half of the 2011/2012 financial year in spite of a difficult environment. The gradual economic recovery in Europe was overshadowed by the unresolved sovereign debt and banking crisis. This led to a further fall in the euro against the Swiss franc. Züblin nevertheless achieved an increase in net earnings and strengthened the balance sheet
Project in Dortmund re- ceives as one of the first reconstruction projects in Germany, the DGNB certificate. In the first half of the financial year 2011/12 the completely renovated property on Holbeinstrasse in Zurich received an award from the city of Zurich as one of the 30 best new buildings or renovated properties during the last four years.
Züblin Immobilien Holding issued a CHF 40 million Swiss franc bond with a coupon of 4% and a term of four years in July 2011, which was topped up by a further CHF 10 million in September 2011. These funds were used to repay short-term property financings and to redeem a loan at holding level. Moreover, the majority of the proceeds from disposals were repaid to the banks, which led to an improvement in the loan-to-value ratio.