Information for investors and analysts

In 2011, an overall performance of 4.3% was achieved with the Allreal share, based on the market price of 1 January 2011. This performance comprises the price gain (0.2%) and the distribution to shareholders (4.1%).

In the past three years, investors obtained an annualised overall performance of 19.6% (2009), 17.1% (2010) and 4.3% (2011) with the Allreal share, corresponding to an average constant return of 15.4% p.a.

On 31 December 2011, the Allreal Group’s market capitalisation stood at CHF 1863.3 million. As at the balance sheet date, consolidated equity came to CHF 1607.4 million, resulting in a premium (difference between the market price and equity per share) of 15.9 percent (31.12.2010: 18.7%).

The Board of Directors will propose to the annual general meeting of 30 March 2012 a distribution of CHF 5.50 (unchanged from the previous year) per registered share in the form of a repayment of reserves from contribution of capital (“capital contribution principle”).

The distribution amounts to 69.0 percent of the net profit excl. profit from revaluation effect, corresponding to a cash yield of 4.0 percent, based on the closing price of the registered share on 31 December 2011.

Share price (indexed)
January 2011–December 2011

[1]Number of shares issued minus treasury shares

[2]Market price on 31 December multiplied by number of outstanding shares on 31 December

Share statistics

Shareholder structure as at 31 December 2011

54.6% of the share capital is owned by institutional investors (pension funds and insurance companies) and 8.8% by natural persons. A further 22.5% is owned by legal entities, such as investment funds, foundations and banks. 14.01% of the share capital has not been submitted for registration in the share register. Foreign investors own 3.8% (registered shares).

2.50% bond issue 2011–2016

Allreal Holding AG issued a fixed-rate bond of CHF 150.0 million in the second quarter of 2011. CHF 148.6 million accrued to the company from the issue of the 2.50% bond 2011–2016 with payment date 12 May 2011 after deduction of issuing costs.

Further information on the bond issue can be found on page 98 of the Annual Report or in the issue prospectus of 10 May 2011.

Price of 2.50% bond issue 2011–2016 (in percent)
10 May 2011–December 2011

2.125% convertible bond 2009–2014

In the second half of 2009, a 2.125% convertible bond of CHF 200.0 million with a term of five years was placed through a bookbuilding process. The issuing costs amounted to CHF 4.7 million.

In 2011, CHF 0.05 million in convertible bonds were converted at an exercise price of CHF 138.75 into Allreal registered shares. The outstanding convertible bond thus amounts to CHF 199.95 million par as at 31 December 2011.

Further information on the convertible bond can be found on pages 98 and 99 of the Annual Report or in the issue prospectus of 21 November 2009.

Price of 2.125% convertible bond 2009–2014 (in percent)
January 2011–December 2011