Segment information for the first half-year 2012
CHF million | Real Estate | Projects & | Total | Holding/ | Total |
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Earnings statement |
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Operating income | 73.2 | 349.4 | 422.6 | 0.0 | 422.6 |
Profit from intercompany services | –2.4 | 2.7 | 0.3 | –0.3 | 0.0 |
Direct operating expenses | –9.7 | –310.5 | –320.2 | 0.0 | –320.2 |
Operating expenses | 0.0 | –31.2 | –31.2 | –0.3 | –31.5 |
Capitalised company-produced assets | 0.0 | 14.3 | 14.3 | 0.0 | 14.3 |
Earnings from sale of investment real estate | –0.4 | 0.0 | –0.4 | 0.0 | –0.4 |
Earnings from revaluation of investment real estate | 19.0 | 0.0 | 19.0 | 0.0 | 19.0 |
EBITDA | 79.7 | 24.7 | 104.4 | –0.6 | 103.8 |
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Depreciation and amortisation | –0.3 | –0.7 | –1.0 | 0.0 | –1.0 |
Operating profit (EBIT) | 79.4 | 24.0 | 103.4 | –0.6 | 102.8 |
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Net financial expense | –16.7 | –2.3 | –19.0 | 0.0 | –19.0 |
Tax expenses | –12.1 | –7.1 | –19.2 | –0.2 | –19.4 |
Net profit | 50.6 | 14.6 | 65.2 | –0.8 | 64.4 |
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EBITDA excl. earnings from revaluation | 60.7 | 24.7 | 85.4 | –0.6 | 84.8 |
Operating profit (EBIT) excl. earnings from revaluation | 60.4 | 24.0 | 84.4 | –0.6 | 83.8 |
Net profit excl. revaluation effect | 36.1 | 14.6 | 50.7 | –0.8 | 49.9 |
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Operating margin in percent [1] | 96.4 | 45.1 | 66.8 | – | 66.3 |
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Rental income and income from real estate management | 73.2 | 0.0 | 73.2 | 0.0 | 73.2 |
Completed project volume third-party projects | 0.0 | 235.7 | 235.7 | 0.0 | 235.7 |
Completed project volume own projects | 0.0 | 174.2 | 174.2 | 0.0 | 174.2 |
Total sales (according to internal reporting) | 73.2 | 409.9 | 483.1 | 0.0 | 483.1 |
less earnings from intergroup services | 0.0 | –50.7 | –50.7 | 0.0 | –50.7 |
Total sales to third parties (according to internal reporting) | 73.2 | 359.2 | 432.4 | 0.0 | 432.4 |
less reconciliation item external reporting | 0.0 | –10.4 | –10.4 | 0.0 | –10.4 |
Diverse income | 0.0 | 0.6 | 0.6 | 0.0 | 0.6 |
Operating income | 73.2 | 349.4 | 422.6 | 0.0 | 422.6 |
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Balance sheet as at 30.06.2012 |
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Fixed assets | 3 103.6 | 9.9 | 3 113.5 | 0.0 | 3 113.5 |
Current assets | 12.0 | 648.8 | 660.8 | 12.6 | 673.4 |
Total assets | 3 115.6 | 658.7 | 3 774.3 | 12.6 | 3 786.9 |
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Provisions | 0.0 | 5.9 | 5.9 | 0.0 | 5.9 |
Other debt capital (excl. financing and taxes) | 105.4 | 207.5 | 312.9 | 0.0 | 312.9 |
Financial liabilities | 1 270.5 | 172.6 | 1 443.1 | 0.0 | 1 443.1 |
Tax liabilities | 140.5 | 9.2 | 149.7 | 9.2 | 158.9 |
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Total debt | 1 516.4 | 395.2 | 1 911.6 | 9.2 | 1 920.8 |
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Total assigned equity [2] | 1 599.2 | 263.5 | 1 862.7 | 3.4 | 1 866.1 |
[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.
Allreal operates in Switzerland only. A breakdown by sales and fixed assets is therefore not required.