Segment information for the first half-year 2016
CHF million | Real estate | Projects & | Total | Holding/ | Total |
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Income statement |
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Operating income | 88.7 | 386.0 | 474.7 | 0.0 | 474.7 |
Profit from intercompany services | –2.5 | 2.8 | 0.3 | –0.3 | 0.0 |
Direct operating expenses | –11.5 | –339.3 | –350.8 | 0.0 | –350.8 |
Operating expenses | –3.3 | –28.0 | –31.3 | –0.9 | –32.2 |
Capitalised company-produced assets | 0.0 | 3.1 | 3.1 | 0.0 | 3.1 |
Earnings from sale of investment real estate | 5.6 | 0.0 | 5.6 | 0.0 | 5.6 |
Earnings from revaluation of investment real estate | 10.3 | 0.0 | 10.3 | 0.0 | 10.3 |
EBITDA | 87.3 | 24.6 | 111.9 | –1.2 | 110.7 |
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Depreciation and amortisation | 0.0 | –0.3 | –0.3 | 0.0 | –0.3 |
Operating profit (EBIT) | 87.3 | 24.3 | 111.6 | –1.2 | 110.4 |
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Net financial expense | –20.8 | –0.8 | –21.6 | 0.0 | –21.6 |
Financial income | 0.9 | 0.0 | 0.9 | 0.0 | 0.9 |
Financial expense | –21.7 | –0.8 | –22.5 | 0.0 | –22.5 |
Tax expense | –13.5 | –5.1 | –18.6 | –0.4 | –19.0 |
Net profit | 53.0 | 18.4 | 71.4 | –1.6 | 69.8 |
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EBITDA excl. revaluation gains | 77.0 | 24.6 | 101.6 | –1.2 | 100.4 |
Operating profit (EBIT) excl. revaluation gains | 77.0 | 24.3 | 101.3 | –1.2 | 100.1 |
Net profit excl. revaluation effect | 44.6 | 18.4 | 63.0 | –1.6 | 61.4 |
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Operating margin in percent [1] | 93.0 | 48.8 | 76.4 | 0.0 | 75.5 |
Rental income and income from real estate management | 88.7 | 0.0 | 88.7 | 0.0 | 88.7 |
Completed project volume third-party projects | 0.0 | 215.5 | 215.5 | 0.0 | 215.5 |
Completed project volume own projects | 0.0 | 44.7 | 44.7 | 0.0 | 44.7 |
Total sales (according to internal reporting) | 88.7 | 260.2 | 348.9 | 0.0 | 348.9 |
less sales from intercompany services | 0.0 | –26.9 | –26.9 | 0.0 | –26.9 |
Total sales to third parties (according to internal reporting) | 88.7 | 233.3 | 322.0 | 0.0 | 322.0 |
plus reconciliation item external reporting | 0.0 | 152.5 | 152.5 | 0.0 | 152.5 |
Diverse income | 0.0 | 0.2 | 0.2 | 0.0 | 0.2 |
Operating income | 88.7 | 386.0 | 474.7 | 0.0 | 474.7 |
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Balance sheet as at 30.06.2016 |
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Non-current assets | 3 641.6 | 5.4 | 3 647.0 | 0.0 | 3 647.0 |
Current assets | 18.6 | 268.5 | 287.1 | 1.2 | 288.3 |
Total assets | 3 660.2 | 273.9 | 3 934.1 | 1.2 | 3 935.3 |
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Provisions | 0.0 | 25.5 | 25.5 | 0.0 | 25.5 |
Other debt (excl. financing and taxes) | 92.5 | 82.6 | 175.1 | 0.0 | 175.1 |
Financial liabilities | 1 551.1 | 56.1 | 1 607.2 | 0.0 | 1 607.2 |
Tax liabilities | 164.1 | 0.0 | 164.1 | 0.0 | 164.1 |
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Total debt | 1 807.7 | 164.2 | 1 971.9 | 0.0 | 1 971.9 |
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Total assigned equity [2] | 1 852.5 | 109.7 | 1 962.2 | 1.2 | 1 963.4 |
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Investment in non-current assets | 20.6 | 0.1 | 20.7 | 0.0 | 20.7 |
[1]EBIT less revaluation gains in percent of earnings 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.