Segment information Year ended 31 December 2010
CHF million | Real Estate | Projects & | Total Segments | Holding/ Eliminations | Total |
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Earnings statement |
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Profit from operations [1] | 120.6 | 108.2 | 228.8 | 0.0 | 228.8 |
Profit from intercompany services | –4.0 | 4.6 | 0.6 | –0.6 | 0.0 |
Earnings from revaluation of investment real estate | 13.5 | 0.0 | 13.5 | 0.0 | 13.5 |
Expenses for staff, other | –2.6 | –52.9 | –55.5 | –1.0 | –56.5 |
EBITDA | 127.5 | 59.9 | 187.4 | –1.6 | 185.8 |
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Depreciation and amortisation | –0.1 | –0.7 | –0.8 | 0.0 | –0.8 |
Operating profit (EBIT) | 127.4 | 59.2 | 186.6 | –1.6 | 185.0 |
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Net financial expense | –29.9 | –4.1 | –34.0 | 0.0 | –34.0 |
Tax expenses | –17.4 | –15.5 | –32.9 | –1.7 | –34.6 |
Net profit | 80.1 | 39.6 | 119.7 | –3.3 | 116.4 |
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EBITDA excl. earnings from revaluation | 114.0 | 59.9 | 173.9 | –1.6 | 172.3 |
Operating profit (EBIT) excl. earnings from revaluation | 113.9 | 59.2 | 173.1 | –1.6 | 171.5 |
Net profit excl. revaluation effect | 69.8 | 39.6 | 109.4 | –3.3 | 106.1 |
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Operating margin in percent [2] | 94.4 | 54.7 | 75.7 | – | 75.0 |
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Rental income | 139.1 | 0.0 | 139.1 | 0.0 | 139.1 |
Completed project volume third-party projects | 0.0 | 348.2 | 348.2 | 0.0 | 348.2 |
Completed project volume own projects | 0.0 | 238.8 | 238.8 | 0.0 | 238.8 |
Total sales (according to internal reporting) | 139.1 | 587.0 | 726.1 | 0.0 | 726.1 |
less earnings from intergroup services | 0.0 | –51.9 | –51.9 | 0.0 | –51.9 |
Total sales to third parties (according to internal reporting) | 139.1 | 535.1 | 674.2 | 0.0 | 674.2 |
less reconciliation item external reporting [3] | 0.0 | –41.1 | –41.1 | 0.0 | –41.1 |
Sales from operative business activity | 139.1 | 494.0 | 633.1 | 0.0 | 633.1 |
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Balance sheet as at 31 December 2010 |
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Fixed assets [4] | 2 657.4 | 7.0 | 2 664.4 | 0.0 | 2 664.4 |
Current assets | 8.6 | 536.6 | 545.2 | 9.3 | 554.5 |
Total assets | 2 666.0 | 543.6 | 3 209.6 | 9.3 | 3 218.9 |
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Provisions | 1.2 | 6.0 | 7.2 | 0.0 | 7.2 |
Other debt (excl. financing and taxes) | 73.3 | 83.8 | 157.1 | 0.0 | 157.1 |
Financial liabilities | 1 126.5 | 225.5 | 1 352.0 | 0.0 | 1 352.0 |
Tax liabilities | 117.3 | 10.9 | 128.2 | 8.1 | 136.3 |
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Total debt | 1 318.3 | 326.2 | 1 644.5 | 8.1 | 1 652.6 |
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Total assigned equity [5] | 1 347.7 | 217.4 | 1 565.1 | 1.2 | 1 566.3 |
[1]Profit from rental and sale of investment real estate (Real Estate division) and earnings from projects and development (Projects & Development division) including value adjustments on development real estate
[2]EBIT less revaluation gains in percent of income from business activity including value adjustments on fixed assets
[3]See 1.3 and 2.7 for an explanation of the reconciliation item
[4]Investments in fixed assets are shown in the analyses of the individual balance sheet items shown on page 91 ff of the Annual Report.
[5]Assignment of equity to individual segments corresponds to internal financial reporting guidelines requiring an equity ratio of 40% for the Projects & Development division; financial and tax liabilities will be assigned accordingly.
Allreal operates in Switzerland only. A breakdown by sales and fixed assets is therefore not required.