Consolidated statement of comprehensive income
CHF million | Notes |
| 1st half-year 2013 reviewed |
| 1st half- year 2012 [1] reviewed |
|
|
|
|
|
|
Income from renting investment real estate |
| 72.8 |
| 71.8 | |
Income from real estate management services |
| 3.6 |
| 1.4 | |
Income from realisation Projects & Development |
| 294.0 |
| 235.7 | |
Income from sales Development |
| 97.1 |
| 113.1 | |
Diverse income |
| 1.0 |
| 0.6 | |
Operating income |
|
| 468.5 |
| 422.6 |
| |||||
Direct expenses for rented investment real estate |
| –9.6 |
| –9.7 | |
Direct expenses from realisation Projects & Development |
| –267.7 |
| –207.7 | |
Direct expenses from sales Development |
| –84.0 |
| –102.8 | |
Direct operating expenses |
|
| –361.3 |
| –320.2 |
| |||||
Personnel expenses |
|
| –30.5 |
| –26.9 |
Other operating expenses |
|
| –6.7 |
| –4.9 |
Operating expenses |
|
| –37.2 |
| –31.8 |
| |||||
Capitalised company-produced assets |
| 13.9 |
| 14.3 | |
| |||||
Earnings from sale of investment real estate |
| 0.7 |
| –0.4 | |
Higher valuation of yield-producing properties |
|
| 24.7 |
| 14.7 |
Lower valuation of yield-producing properties |
|
| –28.7 |
| –16.0 |
Higher valuation of investment real estate under construction |
|
| 13.1 |
| 20.3 |
Lower valuation of investment real estate under construction |
|
| –3.9 |
| 0.0 |
Earnings from revaluation of investment real estate |
| 5.2 |
| 19.0 | |
| |||||
EBITDA |
|
| 89.8 |
| 103.5 |
Depreciation of other property, plant and equipment |
|
| –0.5 |
| –0.5 |
Depreciation of intangible assets |
|
| –0.9 |
| –0.5 |
Operating profit (EBIT) |
|
| 88.4 |
| 102.5 |
| |||||
Finance income |
|
| 1.0 |
| 0.2 |
Finance expenses |
| –15.4 |
| –19.2 | |
Net profit before tax |
|
| 74.0 |
| 83.5 |
| |||||
Tax expense |
|
| –14.8 |
| –19.3 |
Net profit |
|
| 59.2 |
| 64.2 |
| |||||
Items subsequently restated in earnings statement: |
|
|
|
|
|
Valuation of financial instruments |
|
| 35.4 |
| –2.6 |
Deferred taxes from valuation of financial instruments |
|
| –7.8 |
| 0.6 |
| |||||
Items not subsequently restated in earnings statement: |
|
|
|
|
|
Changes in staff pension fund |
|
| 3.3 |
| –2.3 |
Deferred taxes from changes in staff pension fund |
|
| –0.7 |
| 0.5 |
Other comprehensive income |
|
| 30.2 |
| –3.8 |
| |||||
Total comprehensive income |
|
| 89.4 |
| 60.4 |
| |||||
Earnings per share in CHF |
| 3.72 |
| 4.36 | |
Diluted earnings per share in CHF |
| 3.57 |
| 4.14 |
[1]Adjusted values owing to restatement in accordance with IAS 19 (revised) to reflect pension fund assets and pension fund commitments, see Note 2