Consolidated statement of comprehensive income
CHF million | Note |
| 2014 |
| 2013 |
|
|
|
|
|
|
Income from renting investment real estate |
| 159.2 |
| 148.5 | |
Income from real estate management services |
| 6.6 |
| 6.8 | |
Income from realisation Projects & Development |
| 546.5 |
| 620.6 | |
Income from sales Development |
| 211.6 |
| 293.9 | |
Diverse income |
| 1.0 |
| 1.3 | |
Operating income |
|
| 924.9 |
| 1 071.1 |
Direct expenses for rented investment real estate |
| −25.1 |
| –22.3 | |
Direct expenses from realisation Projects & Development |
| −500.8 |
| –569.5 | |
Direct expenses from sales Development |
| −177.0 |
| –260.2 | |
Direct operating expenses |
|
| −702.9 |
| –852.0 |
| |||||
Personnel expenses |
| −53.1 |
| –62.3 | |
Other operating expenses |
| −14.1 |
| –13.9 | |
Operating expenses |
|
| −67.2 |
| –76.2 |
| |||||
Capitalised company-produced assets |
| 21.5 |
| 24.6 | |
| |||||
Earnings from sale of investment real estate |
| 3.1 |
| 20.0 | |
| |||||
Higher valuation of yield-producing properties |
| 81.1 |
| 59.2 | |
Lower valuation of yield-producing properties |
| −86.3 |
| –70.3 | |
Higher valuation of investment real estate under construction |
| 0.0 |
| 26.7 | |
Lower valuation of investment real estate under construction |
| −0.7 |
| –7.5 | |
Earnings from revaluation of investment real estate |
|
| −5.9 |
| 8.1 |
| |||||
EBITDA |
|
| 173.5 |
| 195.6 |
| |||||
Depreciation of other property, plant and equipment |
| −0.7 |
| –0.9 | |
Depreciation of intangible assets |
| −1.9 |
| –1.9 | |
Operating profit (EBIT) |
|
| 170.9 |
| 192.8 |
| |||||
Financial income |
| 0.8 |
| 1.2 | |
Financial expense |
| −37.9 |
| –33.4 | |
Net profit before tax |
|
| 133.8 |
| 160.6 |
| |||||
Tax expense |
| −29.4 |
| –38.8 | |
Net profit |
|
| 104.4 |
| 121.8 |
| |||||
Items subsequently restated in earnings statement: |
|
|
|
|
|
Valuation of financial instruments |
| −30.5 |
| 37.3 | |
Deferred taxes from valuation of financial instruments |
| 6.7 |
| –8.2 | |
| |||||
Items not subsequently restated in earnings statement: |
|
|
|
|
|
Changes in staff pension fund |
| −16.0 |
| 2.6 | |
Deferred taxes from changes in staff pension fund |
| 3.5 |
| –0.6 | |
Other comprehensive income |
|
| −36.3 |
| 31.1 |
| |||||
Total comprehensive income |
|
| 68.1 |
| 152.9 |
| |||||
Earnings per share in CHF |
| 6.56 |
| 7.66 | |
Diluted earnings per share in CHF |
| 6.57 |
| 7.34 |