Key figures at a glance
|
|
| 1st half-year 2015 |
| 1st half-year 2014 |
| Change |
| |||||||
Group |
|
|
|
|
|
|
|
Total sales [2] | CHF million |
| 395.5 |
| 567.7 |
| –30.3 |
Operating profit (EBIT) incl. revaluation gains | CHF million |
| 103.7 |
| 105.5 |
| –1.7 |
Net profit incl. revaluation effect | CHF million |
| 67.2 |
| 65.2 |
| +3.1 |
| |||||||
Operating profit (EBIT) excl. revaluation gains | CHF million |
| 93.2 |
| 93.1 |
| +0.1 |
Net profit excl. revaluation effect | CHF million |
| 59.1 |
| 55.4 |
| +6.7 |
Cashflow | CHF million |
| 14.0 |
| 120.6 |
| –88.4 |
| |||||||
Return on equity incl. revaluation effect (annualised) | % |
| 6.9 |
| 6.7 |
| +0.2 |
Return on equity excl. revaluation effect (annualised) | % |
| 6.4 |
| 6.0 |
| +0.4 |
Equity ratio on cut-off date | % |
| 47.3 |
| 47.6 |
| –0.3 |
Net gearing [3] on cut-off date | % |
| 90.4 |
| 87.9 |
| +2.5 |
| |||||||
Average interest rate on financial liabilities on cut-off date | % |
| 2.34 |
| 1.93 |
| +0.41 |
Average duration of financial liabilities | months |
| 58 |
| 50 |
| +8 |
| |||||||
Sales Projects & Development division | CHF million |
| 303.8 |
| 489.6 |
| –37.9 |
Earnings from Projects & Development division [4] | CHF million |
| 36.1 |
| 63.0 |
| –42.7 |
Operating margin Projects & Development division [5] | % |
| 16.6 |
| 50.2 |
| –33.6 |
| |||||||
Employees on cut-off date number of full-time equivalents |
| 330 |
| 348 |
| –18 | |
| |||||||
Share |
|
|
|
|
|
|
|
Earnings per share incl. revaluation effect | CHF |
| 4.22 |
| 4.09 |
| +3.2 |
Earnings per share excl. revaluation effect | CHF |
| 3.71 |
| 3.48 |
| +6.6 |
Net asset value (NAV) per share before deferred taxes on cut-off date | CHF |
| 128.00 |
| 129.10 |
| –0.9 |
Net asset value (NAV) per share after deferred taxes on cut-off date | CHF |
| 120.95 |
| 122.55 |
| –1.3 |
Share price on cut-off date | CHF |
| 129.00 |
| 137.10 |
| –5.9 |
| |||||||
Valuation on cut-off date |
|
|
|
|
|
|
|
Market capitalisation [6] | CHF million |
| 2 049.7 |
| 2 185.5 |
| –6.2 |
Enterprise value (EV) [7] | CHF million |
| 3 787.0 |
| 3 903.9 |
| –3.0 |
[*]Should no further particulars be given, values referring to the income statement concern the 1st half-year and balance sheet value the cut-off dates on 30.06.2015 resp. 31.12.2014.
[1]Changes in quantum and percentage values shown as absolute difference
[2]Income resulting from rental of investment real estate and real estate management services plus completed project volume Projects & Development division
[3]Financial liabilities minus cash as percentage of equity
[4]Income from realisation Projects & Development, sales development, capitalised company-produced assets and diverse income minus direct expenses for realisation Projects & Development and sales development
[5]EBIT excl. revaluation and restoration of value adjustments on projects as percentage of profit from business activity (balance of operating income, direct operating expenses, capitalised company-produced assets and earnings from sale of investment real estate)
[6]Stock price at balance sheet date multiplied by the number of outstanding shares
[7]Market capitalisation plus net debts