Information for investors and analysts
Additional information on valuation
|
|
| 2011 |
| 2010 |
|
|
|
|
|
|
Invested capital [1] | CHF million |
| 3 230.4 |
| 2 885.6 |
Average invested capital | CHF million |
| 3 058.0 |
| 2 845.4 |
Return on invested capital (ROIC) [2] | % |
| 5.7 |
| 6.0 |
Average investment real estate portfolio | CHF million |
| 2 785.2 |
| 2 569.2 |
| |||||
Interest coverage ratio [3] |
|
| 5.4 |
| 5.1 |
Payout ratio [4] | % |
| 69.0 |
| 70.9 |
| |||||
Overall performance [5] | % |
| 4.3 |
| 17.1 |
Absolute performance [6] | % |
| 0.2 |
| 10.7 |
Relative performance [7] | % |
| 8.6 |
| 7.8 |
| |||||
Earnings yield [8] | % |
| 7.6 |
| 6.3 |
Price/earnings ratio (P/E ratio) [9] |
|
| 13.2 |
| 15.5 |
Market to book value [10] |
|
| 115.9 |
| 118.7 |
| |||||
Average EBITDA excl. earnings from revaluation |
|
| 19.1 |
| 17.5 |
EV/invested capital | % |
| 107.0 |
| 110.1 |
| |||||
Free float [11] | % |
| 60.0 |
| 59.7 |
[1]All assets minus non-interest-bearing liabilities and deferred tax credits
[2]EBIT excl. revaluation gains in percent of average invested capital
[3]EBITDA excl. recovery of value corrections on projects and revaluation gains, divided by net financial expenses
[4]Payout to shareholders in percent of net profit excl. revaluation effect
[5]Payout to shareholders plus change in price in percent of price on 1 January
[6]Change in price in percent of price 1 January
[7]Absolute performance minus percentage change in SPI since 1 January
[8]Net profit divided by market capitalisation
[9]Market price on 31 December divided by earnings per share incl. revaluation effect
[10]Market capitalisation divided by equity
[11]Issued shares minus shares tied under the pooling agreement, less shares held by additional shareholders with >3% holding as well as treasury shares, in percent of total shares issued