1   Basic principles

The 2016 consolidated semi-annual financial statements were prepared in accordance with International Financial Reporting Standard IAS 34 on Interim Financial Reporting and conform to the Listing Rules as well as Article  17 of the Directive on Financial Reporting (DFR) of SIX Swiss Exchange. The same principles of accounting apply as for the 2015 consolidated financial statements. The number of consolidated companies decreased in the period under review as a consequence of the merger of the company Hammertor AG into Hammer Retex AG. As the two companies were directly or indirectly 100% held by Allreal Holding AG, the merger had no financial impact on the 2016 consolidated semi-annual financial statements.

Since 1 January 2016, the following new or amended IFRS accounting standards and interpretations have been used in the consolidated financial statements for the first time:

 

 

 

 

These IFRS changes have no significant impact on the consolidated financial statements.

Seen over the course of the year, individual business activities of the Allreal Group are subject to fluctuations, in particular in the Projects & Development division; for instance, the planning and execution of construction projects or the sale of development real estate. In the first half of 2016, no unusual events occurred that had a material impact on the assets, financial position and earnings of the Allreal Group.

The 2016 consolidated semi-annual financial statements were approved by the Board of Directors of Allreal Holding AG on 16 August 2016.

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