4 Earnings from Projects & Development division
CHF million |
| 1st half-year |
| 1st half-year |
|
|
|
|
|
Income from realisation Projects & Development |
| 215.5 |
| 223.7 |
Direct expenses from realisation Projects & Development |
| –191.1 |
| –197.7 |
Earnings from realisation Projects & Development |
| 24.4 |
| 26.0 |
| ||||
Income from sales Development |
| 170.3 |
| 31.9 |
Direct expenses from sales Development |
| –148.2 |
| –28.3 |
Income from sales Development |
| 22.1 |
| 3.6 |
| ||||
Capitalised company-produced assets |
| 3.1 |
| 6.4 |
Diverse income |
| 0.2 |
| 0.1 |
| ||||
Earnings from Projects & Development division |
| 49.8 |
| 36.1 |
Earnings from realisation Projects & Development consists of architects’ and project & development fees (CHF 17.3 million) and earnings from construction activity (CHF 8.0 million) (1st half-year 2015: CHF 18.7 million and CHF 6.9 million, respectively). This contrasts with directly offset sales deductions (CHF –0.9 million) (1st half-year 2015: CHF 0.4 million).
In the first half of 2016, ownership of units under the projects Holengass Meilen (CHF 2.8 million), Lerchenbergstrasse Erlenbach (CHF 10.9 million), Cholplatz Bülach (CHF 9.4 million), Guggach Zurich (CHF 112.2 million), Pfruendmatt Mettmenstetten (CHF 27.4 million) and Escherhof Wallisellen (CHF 3.0 million) was transferred to third parties, resulting in gains on sales of CHF 21.1 million. In addition, the Guntenbachstrasse property in Volketswil (CHF 4.6 million) held under development reserves was sold.