Key figures at a glance
|
|
| 1st half-year 2016 |
| 1st half-year 2015 |
| Change |
| |||||||
Group |
|
|
|
|
|
|
|
Total sales [2] | CHF million |
| 348.9 |
| 395.5 |
| –11.8 |
Operating profit (EBIT) incl. revaluation gains | CHF million |
| 110.4 |
| 103.7 |
| +6.5 |
Net profit incl. revaluation effect | CHF million |
| 69.8 |
| 67.2 |
| +3.9 |
| |||||||
Operating profit (EBIT) excl. revaluation gains | CHF million |
| 100.1 |
| 93.2 |
| +7.4 |
Net profit excl. revaluation effect | CHF million |
| 61.4 |
| 59.1 |
| +3.9 |
Cash flow | CHF million |
| 181.4 |
| 14.0 |
| – |
| |||||||
Return on equity incl. revaluation effect (annualised) | % |
| 7.1 |
| 6.9 |
| +0.2 |
Return on equity excl. revaluation effect (annualised) | % |
| 6.6 |
| 6.4 |
| +0.2 |
Equity ratio on cut-off date | % |
| 49.9 |
| 48.2 |
| +1.7 |
Net gearing [3] on cut-off date | % |
| 80.4 |
| 88.0 |
| –7.6 |
| |||||||
Average interest rate on financial liabilities on cut-off date | % |
| 2.14 |
| 2.15 |
| –0.01 |
Average duration of financial liabilities | months |
| 61 |
| 52 |
| +9 |
| |||||||
Sales Projects & Development division | CHF million |
| 260.2 |
| 303.8 |
| –14.4 |
Earnings from Projects & Development division [4] | CHF million |
| 49.8 |
| 36.1 |
| +38.0 |
Operating margin Projects & Development division [5] | % |
| 48.8 |
| 16.6 |
| +32.2 |
| |||||||
Employees on cut-off date number of full-time equivalents |
| 286 |
| 312 |
| –26 | |
| |||||||
Share |
|
|
|
|
|
|
|
Earnings per share incl. revaluation effect | CHF |
| 4.38 |
| 4.22 |
| +3.8 |
Earnings per share excl. revaluation effect | CHF |
| 3.85 |
| 3.71 |
| +3.8 |
Net asset value (NAV) per share before deferred taxes on cut-off date | CHF |
| 130.90 |
| 132.95 |
| –1.5 |
Net asset value (NAV) per share after deferred taxes on cut-off date | CHF |
| 123.20 |
| 125.35 |
| –1.7 |
Share price on cut-off date | CHF |
| 135.00 |
| 133.60 |
| +1.0 |
| |||||||
Valuation on cut-off date |
|
|
|
|
|
|
|
Market capitalisation [6] | CHF million |
| 2 151.2 |
| 2 125.5 |
| +1.2 |
Enterprise value (EV) [7] | CHF million |
| 3 730.7 |
| 3 879.7 |
| –3.8 |
[*]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 30.06.2016 as at 31.12.2015.
[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