Segment information Year ended 31 December 2012
CHF million | Real Estate | Projects & | Total | Holding/ | Total |
| |||||
Earnings statement |
|
|
|
|
|
Operating income | 146.5 | 685.3 | 831.8 | 0.0 | 831.8 |
Profit from intercompany services | –4.7 | 5.3 | 0.6 | –0.6 | 0.0 |
Direct operating expenses | –19.6 | –606.0 [3] | –625.6 | 0.0 | –625.6 |
Operating expenses | –3.6 | –64.5 | –68.1 | –1.2 | –69.3 |
Capitalised company-produced assets | 0.0 | 36.5 | 36.5 | 0.0 | 36.5 |
Earnings from sale of investment real estate | –0.4 | 0.0 | –0.4 | 0.0 | –0.4 |
Earnings from revaluation of investment real estate | –8.2 | 0.0 | –8.2 | 0.0 | –8.2 |
EBITDA | 110.0 | 56.6 | 116.6 | –1.8 | 164.8 |
| |||||
Depreciation and amortisation | –0.6 | –1.9 | –2.5 | 0.0 | –2.5 |
Operating profit (EBIT) | 109.4 | 54.7 | 164.1 | –1.8 | 162.3 |
| |||||
Financial income | 0.1 | 0.2 | 0.3 | 0.0 | 0.3 |
Financial expense | –29.6 | –4.8 | –34.4 | 0.0 | –34.4 |
Tax expense | –14.9 | –14.1 | –29.0 | –1.2 | –30.2 |
Net profit | 65.0 | 36.0 | 101.0 | –3.0 | 98.0 |
| |||||
EBITDA excl. revaluation gains | 118.2 | 56.6 | 174.8 | –1.8 | 173.0 |
Operating profit (EBIT) excl. revaluation gains | 117.6 | 54.7 | 172.3 | –1.8 | 170.5 |
Net profit excl. revaluation effect | 72.1 | 36.0 | 108.1 | –3.0 | 105.1 |
| |||||
Operating margin in percent [1] | 93.0 | 47.2 | 71.1 | 0.0 | 70.4 |
Rental income and income from real estate management | 146.5 | 0.0 | 146.5 | 0.0 | 146.5 |
Completed project volume third-party projects | 0.0 | 522.4 | 522.4 | 0.0 | 522.4 |
Completed project volume own projects | 0.0 | 417.2 | 417.2 | 0.0 | 417.2 |
Total sales (according to internal reporting) | 146.5 | 939.6 | 1 086.1 | 0.0 | 1 086.1 |
less earnings from intergroup services | 0.0 | –153.7 | –153.7 | 0.0 | –153.7 |
Total sales to third parties (according to internal reporting) | 146.5 | 785.9 | 932.4 | 0.0 | 932.4 |
less reconciliation item external reporting | 0.0 | –101.6 | –101.6 | 0.0 | –101.6 |
Diverse income | 0.0 | 1.0 | 1.0 | 0.0 | 1.0 |
Operating income | 146.5 | 685.3 | 831.8 | 0.0 | 831.8 |
| |||||
Balance sheet as at 31.12.2012 |
|
|
|
|
|
Fixed assets | 3 216.5 | 10.3 | 3 226.8 | 0.0 | 3 226.8 |
Current assets | 10.3 | 677.8 | 688.1 | 12.5 | 700.6 |
Total assets | 3 226.8 | 688.1 | 3 914.9 | 12.5 | 3 927.4 |
| |||||
Provisions | 0.0 | 7.1 | 7.1 | 0.0 | 7.1 |
Other debt (excl. financing and taxes) | 95.3 | 188.7 | 284.0 | 0.0 | 284.0 |
Financial liabilities | 1 354.0 | 209.6 | 1 563.6 | 0.0 | 1 563.6 |
Tax liabilities | 144.0 | 7.5 | 151.5 | 10.5 | 162.0 |
| |||||
Total debt | 1 593.3 | 412.9 | 2 006.2 | 10.5 | 2 016.7 |
| |||||
Total assigned equity [2] | 1 633.5 | 275.2 | 1 908.7 | 2.0 | 1 910.7 |
| |||||
Investments in fixed assets | 215.5 | 5.0 | 220.5 | 0.0 | 220.5 |
[1]EBIT less revaluation gains in percent of income from business activity
[2]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
[3]The direct operating expenses of the Projects & Development segment include valuation adjustments on development real estate amounting to CHF 1.7 million, see 4.2
Allreal operates in Switzerland only. A breakdown by sales and fixed assets is therefore not required.