Information for investors and analysts
Additional information on valuation
|
|
| 2012 |
| 2011 |
|
|
|
|
|
|
Invested capital [1] | CHF million |
| 3 436.9 |
| 3 257.2 |
Average invested capital | CHF million |
| 3 347.1 |
| 3 080.5 |
Return on invested capital (ROIC) [2] | % |
| 5.1 |
| 5.9 |
Average investment real estate portfolio | CHF million |
| 3 055.0 |
| 2 785.2 |
Interest coverage ratio [3] |
|
| 5.1 |
| 5.7 |
Payout ratio [4] | % |
| 83.4 |
| 65.2 |
Overall performance [5] | % |
| 9.2 |
| 4.3 |
Absolute performance [6] | % |
| 3.4 |
| 0.2 |
Relative performance [7] | % |
| –14.3 |
| 8.6 |
Earnings yield [8] | % |
| 4.4 |
| 7.9 |
Price/earnings ratio (P/E ratio) [9] |
|
| 22.3 |
| 12.8 |
Market to book value [10] |
|
| 117.7 |
| 115.9 |
Average EBITDA excl. earnings from revaluation |
|
| 20.9 |
| 18.1 |
EV/invested capital | % |
| 110.4 |
| 106.1 |
Free float [11] | % |
| 65.0 |
| 63.0 |
[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 expense
[4]Payout to shareholders in percent of net profit excl. revaluation effect
[5]Payout to shareholders plus price change and proceeds from sale of rights from the capital increase in percent of price as at 1 January
[6]Change in price in percent of price as at 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