Segment information for the year ended 31 December 2015
CHF million | Real estate | Projects & Development | Total segments | Holding/ eliminations | Total |
Earnings statement |
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Operating income | 181.0 | 594.2 | 775.2 | 0.0 | 775.2 |
Profit from intercompany services | –4.8 | 5.4 | 0.6 | –0.6 | 0.0 |
Direct operating expenses | –31.8 | –526.9 | –558.7 | 0.0 | –558.7 |
Operating expenses | –7.4 | –61.1 | –68.5 | –0.9 | –69.4 |
Capitalised company-produced assets | 0.0 | 11.5 | 11.5 | 0.0 | 11.5 |
Earnings from sale of investment real estate | 21.1 | 0.0 | 21.1 | 0.0 | 21.1 |
Earnings from revaluation of investment real estate | 15.8 | 0.0 | 15.8 | 0.0 | 15.8 |
EBITDA | 173.9 | 23.1 | 197.0 | –1.5 | 195.5 |
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Depreciation and amortisation | –0.8 | –1.5 | –2.3 | 0.0 | –2.3 |
Operating profit (EBIT) | 173.1 | 21.6 | 194.7 | –1.5 | 193.2 |
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Financial income | 1.8 | 0.0 | 1.8 | 0.0 | 1.8 |
Financial expense | –40.2 | –3.4 | –43.6 | 0.0 | –43.6 |
Tax expense | –26.9 | –4.6 | –31.5 | 2.0 | –29.5 |
Net profit | 107.8 | 13.6 | 121.4 | 0.5 | 121.9 |
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EBITDA excl. revaluation gains | 158.1 | 23.1 | 181.2 | –1.5 | 179.7 |
Operating profit (EBIT) excl. revaluation gains | 157.3 | 21.6 | 178.9 | –1.5 | 177.4 |
Net profit excl. revaluation effect | 95.6 | 13.6 | 109.2 | 0.5 | 109.7 |
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Operating margin in percent [1] | 92.4 | 27.4 | 71.8 | 0.0 | 71.2 |
Rental income and income from real estate management | 181.0 | 0.0 | 181.0 | 0.0 | 181.0 |
Completed project volume third-party projects | 0.0 | 467.0 | 467.0 | 0.0 | 467.0 |
Completed project volume own projects | 0.0 | 145.9 | 145.9 | 0.0 | 145.9 |
Total sales (according to internal reporting) | 181.0 | 612.9 | 793.9 | 0.0 | 793.9 |
less earnings from intercompany services | 0.0 | –75.7 | –75.7 | 0.0 | –75.7 |
Total sales to third parties (according to internal reporting) | 0.0 | 537.2 | 537.2 | 0.0 | 537.2 |
plus reconciliation item external reporting [2] | 0.0 | 56.1 | 56.1 | 0.0 | 56.1 |
Diverse income | 0.0 | 0.9 | 0.9 | 0.0 | 0.9 |
Operating income | 181.0 | 594.2 | 775.2 | 0.0 | 775.2 |
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Balance sheet as at 31.12.2015 |
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Non-current assets | 3 709.9 | 2.5 | 3 712.4 | 0.0 | 2 712.4 |
Current assets | 8.2 | 411.8 | 420.0 | 3.6 | 423.6 |
Total assets | 3 718.1 | 414.3 | 4 132.4 | 3.6 | 4 136.0 |
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Provisions | 0.0 | 11.3 | 11.3 | 0.0 | 11.3 |
Other debt (excl. financing and taxes) | 88.9 | 91.6 | 180.5 | 0.0 | 180.5 |
Financial liabilities | 1 638.7 | 138.9 | 1 777.6 | 0.0 | 1 777.6 |
Tax liabilities | 164.6 | 6.8 | 171.4 | 1.1 | 172.5 |
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Total debt | 1 892.2 | 248.6 | 2 140.8 | 1.1 | 2 141.9 |
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Total assigned equity [3] | 1 825.9 | 165.7 | 1 991.6 | 2.5 | 1 994.1 |
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Investment in non-current assets | 101.3 | 0.4 | 101.7 | 0.0 | 101.7 |
[1]EBIT less revaluation gains in percent of income from business activity (balance of operating income, direct operating expenses, capitalised company-produced assets and earnings from sale of investment real estate)
[2]See 2.7 for an explanation of the reconciliation item
[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 geographical breakdown of sales and non-current assets is therefore not required.