2012 Half-year Report: Financial report
Consolidated statement of comprehensive income
CHF million | Notes |
| 1st half-year |
| 1st half-year 2011 [1] |
|
|
|
|
|
|
Income from renting investment real estate |
| 71.8 |
| 69.8 | |
Income from real estate management services |
|
| 1.4 |
| 0.0 |
Earnings from realisation Projects & Development |
| 235.7 |
| 206.0 | |
Income from sales Development |
| 113.1 |
| 48.5 | |
Diverse income |
|
| 0.6 |
| 0.9 |
Operating income |
|
| 422.6 |
| 325.2 |
| |||||
Direct expenses for rented investment real estate |
| –9.7 |
| –8.5 | |
Direct expenses from realisation Projects & Development |
| –207.7 |
| –180.1 | |
Direct expenses from sales Development |
| –102.8 |
| –38.3 | |
Direct operating expenses |
|
| –320.2 |
| –226.9 |
| |||||
Personnel expenses |
|
| –26.6 |
| –23.0 |
Other operating expense |
|
| –4.9 |
| –5.6 |
Operating expenses |
|
| –31.5 |
| –28.6 |
| |||||
Capitalised company-produced assets |
| 14.3 |
| 13.2 | |
| |||||
Earnings from sale of investment real estate |
| –0.4 |
| 0.6 | |
| |||||
Higher valuation of yield-producing properties |
|
| 14.7 |
| 14.5 |
Lower valuation of yield-producing properties |
|
| –16.0 |
| –10.8 |
Higher valuation of investment real estate under construction |
|
| 20.3 |
| 14.4 |
Lower valuation of investment real estate under construction |
|
| 0.0 |
| 0.0 |
Earnings from revaluation of investment real estate |
| 19.0 |
| 18.1 | |
| |||||
EBITDA |
|
| 103.8 |
| 101.6 |
| |||||
Depreciation other property, plant and equipment |
|
| –0.5 |
| –0.4 |
Depreciation intangible assets |
| –0.5 |
| 0.0 | |
Operating profit (EBIT) |
|
| 102.8 |
| 101.2 |
| |||||
Finance income |
|
| 0.2 |
| 0.3 |
Finance expenses |
| –19.2 |
| –16.0 | |
Net profit before tax |
|
| 83.8 |
| 85.5 |
| |||||
Tax expenses |
|
| –19.4 |
| –20.0 |
Net profit |
|
| 64.4 |
| 65.5 |
| |||||
Valuation financial instruments |
|
| –2.6 |
| 2.3 |
Deferred taxes from valuation of financial instruments |
|
| 0.6 |
| –0.5 |
Other comprehensive income |
|
| –2.0 |
| 1.8 |
| |||||
Total comprehensive income |
|
| 62.4 |
| 67.3 |
| |||||
Earnings per share in CHF |
| 4.38 |
| 4.72 | |
Diluted earnings per share in CHF |
| 4.15 |
| 4.44 | |
[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 Note 2