Information for investors and analysts
Multi-year overview
Key financial figures (in CHF million) |
| 2012 |
| 2011 | 2010 | 2009 | 2008 |
| |||||||
Total sales |
| 1 086.1 |
| 886.1 | 726.9 | 624.1 | 623.3 |
Earnings from rental and sale of investment real estate |
| 122.1 |
| 124.7 | 120.6 | 119.7 | 108.3 |
Earnings from Projects & Development division |
| 115.8 |
| 117.5 | 108.2 | 82.2 | 81.8 |
Completed project volume Projects & Development division |
| 939.6 |
| 743.2 | 587.0 | 491.2 | 499.9 |
Operating profit (EBIT) incl. revaluation gains |
| 162.3 |
| 226.7 | 185.0 | 149.5 | 152.5 |
Operating profit (EBIT) excl. revaluation gains |
| 170.5 |
| 182.0 | 171.5 | 143.0 | 135.3 |
Net profit incl. revaluation effect |
| 98.0 |
| 146.8 | 116.4 | 88.6 | 90.7 |
Net profit excl. revaluation effect |
| 105.1 |
| 115.0 | 106.1 | 83.1 | 78.4 |
| |||||||
Cash flow from operating activities |
| 72.2 |
| –22.9 | 36.5 | 79.0 | 108.1 |
Cash flow from investing activities |
| –203.2 |
| –175.5 | –52.4 | –216.1 | –150.5 |
Cash flow from financing activities |
| 85.2 |
| 236.4 | 21.2 | 146.6 | 42.0 |
| |||||||
Total assets as at 31 December |
| 3 927.4 |
| 3 700.5 | 3 283.5 | 3 077.2 | 2 860.6 |
Market value of investment real estate on 31 December |
| 3 159.0 |
| 2 951.0 | 2 619.3 | 2 519.1 | 2 310.2 |
Balance sheet value development real estate as at 31 December |
| 594.8 |
| 533.0 | 520.6 | 394.4 | 380.9 |
| |||||||
Net yield investment real estate (%) |
| 4.9 |
| 5.1 | 5.1 | 5.2 | 5.2 |
Operating margin Projects & Development division (%) |
| 47.2 |
| 55.6 | 54.7 | 40.5 | 42.2 |
Average interest rate on financial liabilities (%) |
| 2.13 |
| 2.30 | 2.59 | 2.56 | 2.79 |
Average duration of financial liabilities (months) |
| 54 |
| 51 | 46 | 36 | 44 |
| |||||||
Return on equity incl. revaluation effect (%) |
| 5.6 |
| 9.2 | 8.2 | 7.1 | 7.2 |
Return on equity excl. revaluation effect (%) |
| 6.1 |
| 7.6 | 7.9 | 6.7 | 6.1 |
Share of equity on 31 December (%) |
| 48.7 |
| 43.6 | 47.7 | 41.5 | 43.7 |
Net gearing on 31 December (%) |
| 80.5 |
| 98.7 | 84.1 | 115.2 | 102.8 |
Market capitalisation on 31 December |
| 2 248.3 |
| 1 863.3 | 1 859.6 | 1 394.8 | 1 213.7 |
|
|
|
|
|
|
|
|
Share (in CHF) |
| 2012 |
| 2011 | 2010 | 2009 | 2008 |
| |||||||
Earnings per share incl. revaluation effect |
| 6.33 |
| 10.56 | 8.80 | 7.61 | 7.99 |
Earnings per share excl. revaluation effect |
| 6.79 |
| 8.27 | 8.27 | 7.14 | 6.91 |
Payout per share |
| 5.50 [1] |
| 5.50 | 5.50 | 5.00 | 5.00 |
Net asset value (NAV) per share before deferred taxes on 31 December |
| 126.05 |
| 125.45 | 120.85 | 119.70 | 117.30 |
Net asset value (NAV) per share after deferred taxes on 31 December |
| 119.90 |
| 118.25 | 114.70 | 112.65 | 110.25 |
Market price high |
| 149.40 |
| 148.00 | 138.30 | 131.70 | 140.70 |
Market price low |
| 134.00 |
| 128.00 | 114.00 | 105.10 | 105.20 |
Market price on 31 December |
| 141.10 |
| 136.50 | 136.20 | 123.00 | 107.00 |
Cash yield payout (%) |
| 3.9 |
| 4.0 | 4.0 | 4.1 | 4.7 |
Payout ratio (%) |
| 83.4 |
| 65.2 | 70.9 | 68.4 | 72.6 |
[1]Proposal of the Board of Directors to the annual general meeting of 5 April 2013
by means of repayment of reserves from contribution of capital