Consolidated statement of comprehensive income
CHF million | Note |
| 2012 |
| 2011 [1] |
|
|
|
|
|
|
Income from renting investment real estate |
| 142.1 |
| 142.9 | |
Income from real estate management services |
| 4.4 |
| 0.0 | |
Income from realisation Projects & Development |
| 522.4 |
| 434.4 | |
Income from sales Development |
| 161.9 |
| 225.5 | |
Diverse income |
| 1.0 |
| 1.1 | |
Operating income |
|
| 831.8 |
| 803.9 |
| |||||
Direct expenses for rented investment real estate |
| –19.6 |
| –19.0 | |
Direct expenses from realisation Projects & Development |
| –461.4 |
| –380.9 | |
Direct expenses from sales Development |
| –144.6 |
| –190.0 | |
Direct operating expenses |
|
| –625.6 |
| –589.9 |
| |||||
Personnel expenses |
| –57.7 |
| –46.9 | |
Other operating expenses |
| –11.6 |
| –12.4 | |
Operating expenses |
|
| –69.3 |
| –59.3 |
| |||||
Capitalised company-produced assets |
| 36.5 |
| 27.4 | |
| |||||
Earnings from sale of investment real estate |
| –0.4 |
| 0.8 | |
| |||||
Higher valuation of yield-producing properties |
| 32.5 |
| 54.1 | |
Lower valuation of yield-producing properties |
| –32.8 |
| –24.8 | |
Higher valuation of investment real estate under construction |
| 16.1 |
| 15.4 | |
Lower valuation of investment real estate under construction |
| –24.0 |
| 0.0 | |
Earnings from revaluation of investment real estate |
|
| –8.2 |
| 44.7 |
| |||||
EBITDA |
|
| 164.8 |
| 227.6 |
| |||||
Depreciation other property, plant and equipment |
| –1.1 |
| –0.9 | |
Depreciation intangible assets |
| –1.4 |
| 0.0 | |
Operating profit (EBIT) |
|
| 162.3 |
| 226.7 |
| |||||
Financial income |
| 0.3 |
| 0.5 | |
Financial expense |
| –34.4 |
| –32.8 | |
Net profit before tax |
|
| 128.2 |
| 194.4 |
| |||||
Tax expense |
| –30.2 |
| –47.6 | |
Net profit |
|
| 98.0 |
| 146.8 |
| |||||
Valuation of financial instruments |
| 9.4 |
| –32.0 | |
Deferred taxes from valuation of financial instruments |
| –2.0 |
| 7.0 | |
Other comprehensive income |
|
| 7.4 |
| –25.0 |
| |||||
Total comprehensive income |
|
| 105.4 |
| 121.8 |
| |||||
Earnings per share in CHF |
| 6.33 |
| 10.56 | |
Diluted earnings per share in CHF |
| 6.10 |
| 9.91 | |
[1]Restated values owing to change in realisation of gains on development real estate and change in presentation of consolidated statement of comprehensive income, see 1.3