Segment information for the first half-year 2012¹
CHF million | Real | Projects & | Total Segments | Holding/ Eliminations | 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 | –31.5 | –31.5 | –0.3 | –31.8 |
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 | 24.4 | 104.1 | –0.6 | 103.5 |
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Depreciation and amortisation | –0.3 | –0.7 | –1.0 | 0.0 | –1.0 |
Operating profit (EBIT) | 79.4 | 23.7 | 103.1 | –0.6 | 102.5 |
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Net finance expense | –16.7 | –2.3 | –19.0 | 0.0 | –19.0 |
Tax expense | –12.1 | –7.0 | –19.1 | –0.2 | –19.3 |
Net profit | 50.6 | 14.4 | 65.0 | –0.8 | 64.2 |
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EBITDA excl. revaluation gains | 60.7 | 24.4 | 85.1 | –0.6 | 84.5 |
Operating profit (EBIT) excl. revaluation gains | 60.4 | 23.7 | 84.1 | –0.6 | 83.5 |
Net profit excl. revaluation effect | 36.1 | 14.4 | 50.5 | –0.8 | 49.7 |
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Operating margin in percent [2] | 95.7 | 44.5 | 72.3 | – | 71.8 |
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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 31.12.2012 |
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Fixed assets | 3 216.5 | 11.3 | 3 227.8 | 0.0 | 3 227.8 |
Current assets | 10.3 | 677.8 | 688.1 | 12.5 | 700.6 |
Total assets | 3 226.8 | 689.1 | 3 915.9 | 12.5 | 3 928.4 |
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Provisions | 0.0 | 7.1 | 7.1 | 0.0 | 7.1 |
Other debt capital (excl. financing and taxes) | 95.3 | 193.1 | 288.4 | 0.0 | 288.4 |
Financial liabilities | 1 357.8 | 205.8 | 1 563.6 | 0.0 | 1 563.6 |
Tax liabilities | 144.0 | 7.5 | 151.5 | 10.5 | 162.0 |
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Total debt | 1 597.1 | 413.5 | 2 010.6 | 10.5 | 2 021.1 |
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Total assigned equity [3] | 1 629.7 | 275.6 | 1 905.3 | 2.0 | 1 907.3 |
[1]Adjusted values owing to restatement in accordance with IAS 19 (revised) to reflect pension fund assets and pension fund commitments, see Note 2
[2]EBIT less revaluation gains in percent of income from business activity
[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 breakdown by sales and fixed assets is therefore not required.