Segment information for the first half-year 2015
CHF million | Real estate | Projects & | Total | Holding/ | Total |
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Earnings statement |
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Operating income | 91.7 | 255.7 | 347.4 | 0.0 | 347.4 |
Profit from intercompany services | –2.4 | 2.7 | 0.3 | –0.3 | 0.0 |
Direct operating expenses | –15.9 | –226.0 | –241.9 | 0.0 | –241.9 |
Operating expenses | –3.1 | –32.0 | –35.1 | –0.8 | –35.9 |
Capitalised company-produced assets | 0.0 | 6.4 | 6.4 | 0.0 | 6.4 |
Earnings from sale of investment real estate | 18.4 | 0.0 | 18.4 | 0.0 | 18.4 |
Earnings from revaluation of investment real estate | 10.5 | 0.0 | 10.5 | 0.0 | 10.5 |
EBITDA | 99.2 | 6.8 | 106.0 | –1.1 | 104.9 |
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Depreciation and amortisation | –0.4 | –0.8 | –1.2 | 0.0 | –1.2 |
Operating profit (EBIT) | 98.8 | 6.0 | 104.8 | –1.1 | 103.7 |
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Net financial expense | –16.9 | –1.0 | –17.9 | 0.0 | –17.9 |
Tax expense | –16.6 | –1.5 | –18.1 | –0.5 | –18.6 |
Net profit | 65.3 | 3.5 | 68.8 | –1.6 | 67.2 |
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EBITDA excl. revaluation gains | 88.7 | 6.8 | 95.5 | –1.1 | 94.4 |
Operating profit (EBIT) excl. revaluation gains | 88.3 | 6.0 | 94.3 | –1.1 | 93.2 |
Net profit excl. revaluation effect | 57.2 | 3.5 | 60.7 | –1.6 | 59.1 |
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Operating margin in percent [1] | 93.7 | 16.6 | 72.4 | – | 71.5 |
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Rental income and income from real estate management | 91.7 | 0.0 | 91.7 | 0.0 | 91.7 |
Completed project volume third-party projects | 0.0 | 223.7 | 223.7 | 0.0 | 223.7 |
Completed project volume own projects | 0.0 | 80.1 | 80.1 | 0.0 | 80.1 |
Total sales (according to internal reporting) | 91.7 | 303.8 | 395.5 | 0.0 | 395.5 |
less earnings from intercompany services | 0.0 | –44.3 | –44.3 | 0.0 | –44.3 |
Total sales to third parties (according to internal reporting) | 91.7 | 259.5 | 351.2 | 0.0 | 351.2 |
less reconciliation item external reporting | 0.0 | –3.9 | –3.9 | 0.0 | –3.9 |
Diverse income | 0.0 | 0.1 | 0.1 | 0.0 | 0.1 |
Operating income | 91.7 | 255.7 | 347.4 | 0.0 | 347.4 |
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Balance sheet as at 30.06.15 |
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Non-current assets | 3 651.4 | 5.2 | 3 656.6 | 0.0 | 3 656.6 |
Current assets | 9.2 | 382.4 | 391.6 | 12.2 | 403.8 |
Total assets | 3 660.6 | 387.6 | 4 048.2 | 12.2 | 4 060.4 |
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Provisions | 0.0 | 8.8 | 8.8 | 0.0 | 8.8 |
Other debt (excl. financing and taxes) | 95.7 | 126.5 | 222.2 | 0.0 | 222.2 |
Financial liabilities | 1 660.8 | 93.9 | 1 754.7 | 0.0 | 1 754.7 |
Tax liabilities | 138.9 | 3.4 | 142.3 | 10.4 | 152.7 |
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Total debt | 1 895.4 | 232.6 | 2 128.0 | 10.4 | 2 138.4 |
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Total assigned equity [2] | 1 765.2 | 155.0 | 1 920.2 | 1.8 | 1 922.0 |
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Investment in non-current assets | 18.8 | 0.3 | 19.1 | 0.0 | 19.1 |
[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]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.