Segment information Year ended 31 December 2011¹
CHF million | Real Estate | Projects & | Total | Holding/ | Total |
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Earnings statement |
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Operating income | 142.9 | 661.0 | 803.9 | 0.0 | 803.9 |
Profit from intercompany services | –4.4 | 5.0 | 0.6 | –0.6 | 0.0 |
Direct operating expenses | –19.0 | –570.9 | –589.9 | 0.0 | –589.9 |
Operating expenses | –1.9 | –56.3 | –58.2 | –1.1 | –59.3 |
Capitalised company-produced assets | 0.0 | 27.4 | 27.4 | 0.0 | 27.4 |
Earnings from sale of investment real estate | 0.8 | 0.0 | 0.8 | 0.0 | 0.8 |
Earnings from revaluation of investment real estate | 44.7 | 0.0 | 44.7 | 0.0 | 44.7 |
EBITDA | 163.1 | 66.2 | 229.3 | –1.7 | 227.6 |
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Depreciation and amortisation | 0.0 | –0.9 | –0.9 | 0.0 | –0.9 |
Operating profit (EBIT) | 163.1 | 65.3 | 228.4 | –1.7 | 226.7 |
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Financial income | 0.2 | 0.3 | 0.5 | 0.0 | 0.5 |
Financial expense | –28.6 | –4.2 | –32.8 | 0.0 | –32.8 |
Tax expense | –27.4 | –18.3 | –45.7 | –1.9 | –47.6 |
Net profit | 107.3 | 43.1 | 150.4 | –3.6 | 146.8 |
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EBITDA excl. revaluation gains | 118.4 | 66.2 | 184.6 | –1.7 | 182.9 |
Operating profit (EBIT) excl. revaluation gains | 118.4 | 65.3 | 183.7 | –1.7 | 182.0 |
Net profit excl. revaluation effect | 75.5 | 43.1 | 118.6 | –3.6 | 115.0 |
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Operating margin in percent [2] | 94.9 | 55.6 | 75.8 | – | 75.1 |
Rental income | 142.9 | 0.0 | 142.9 | 0.0 | 142.9 |
Completed project volume third-party projects | 0.0 | 434.4 | 434.4 | 0.0 | 434.4 |
Completed project volume own projects | 0.0 | 308.8 | 308.8 | 0.0 | 308.8 |
Total sales (according to internal reporting) | 142.9 | 743.2 | 886.1 | 0.0 | 886.1 |
less earnings from intergroup services | 0.0 | –91.9 | –91.9 | 0.0 | –91.9 |
Total sales to third parties (according to internal reporting) | 142.9 | 651.3 | 794.2 | 0.0 | 794.2 |
plus reconciliation item external reporting | 0.0 | 8.6 | 8.6 | 0.0 | 8.6 |
Diverse income | 0.0 | 1.1 | 1.1 | 0.0 | 1.1 |
Operating income | 142.9 | 661.0 | 803.9 | 0.0 | 803.9 |
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Balance sheet as at 31.12.2012 |
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Fixed assets | 2 999.4 | 7.5 | 3 006.9 | 0.0 | 3 006.9 |
Current assets | 10.4 | 668.7 | 679.1 | 14.5 | 693.6 |
Total assets | 3 009.8 | 676.2 | 3 686.0 | 14.5 | 3 700.5 |
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Provisions | 1.2 | 5.7 | 6.9 | 0.0 | 6.9 |
Other debt (excl. financing and taxes) | 106.8 | 145.2 | 252.0 | 0.0 | 252.0 |
Financial liabilities | 1 424.9 | 241.1 | 1 666.0 | 0.0 | 1 666.0 |
Tax liabilities | 137.5 | 13.7 | 151.2 | 10.1 | 161.3 |
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Total debt | 1 670.4 | 405.7 | 2 076.1 | 10.1 | 2 086.2 |
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Total assigned equity [3] | 1 339.4 | 270.5 | 1 609.9 | 4.4 | 1 614.3 |
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Investments in fixed assets | 184.7 | 1.0 | 185.7 | 0.0 | 185.7 |
[1]Restated values owing to change in realisation of gains on development real estate, change in presentation of consolidated statement of comprehensive income and gross presentation of downpayments for development real estate, see 1.3
[2]EBIT less revaluation gains in percent of income from business activity
[3]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.