Consolidated statement of comprehensive income
CHF million | Note |
| 2013 |
| 2012 [1] |
|
|
|
|
|
|
Income from renting investment real estate |
| 148.5 |
| 142.1 | |
Income from real estate management services |
| 6.8 |
| 4.4 | |
Income from realisation Projects & Development |
| 620.6 |
| 522.4 | |
Income from sales Development |
| 293.9 |
| 161.9 | |
Diverse income |
| 1.3 |
| 1.0 | |
Operating income |
|
| 1 071.1 |
| 831.8 |
| |||||
Direct expenses for rented investment real estate |
| –22.3 |
| –19.6 | |
Direct expenses from realisation Projects & Development |
| –569.5 |
| –461.4 | |
Direct expenses from sales Development |
| –260.2 |
| –144.6 | |
Direct operating expenses |
|
| –852.0 |
| –625.6 |
| |||||
Personnel expenses |
| –62.3 |
| –58.3 | |
Other operating expenses |
| –13.9 |
| –11.6 | |
Operating expenses |
|
| –76.2 |
| –69.9 |
| |||||
Capitalised company-produced assets |
| 24.6 |
| 36.5 | |
| |||||
Earnings from sale of investment real estate |
| 20.0 |
| –0.4 | |
| |||||
Higher valuation of yield-producing properties |
| 59.2 |
| 32.5 | |
Lower valuation of yield-producing properties |
| –70.3 |
| –32.8 | |
Higher valuation of investment real estate under construction |
| 26.7 |
| 16.1 | |
Lower valuation of investment real estate under construction |
| –7.5 |
| –24.0 | |
Earnings from revaluation of investment real estate |
|
| 8.1 |
| –8.2 |
| |||||
EBITDA |
|
| 195.6 |
| 164.2 |
Depreciation of other property, plant and equipment |
| –0.9 |
| –1.1 | |
Depreciation of intangible assets |
| –1.9 |
| –1.4 | |
Operating profit (EBIT) |
|
| 192.8 |
| 161.7 |
Financial income |
| 1.2 |
| 0.3 | |
Financial expense |
| –33.4 |
| –34.4 | |
Net profit before tax |
|
| 160.6 |
| 127.6 |
Tax expense |
| –38.8 |
| –30.1 | |
Net profit |
|
| 121.8 |
| 97.5 |
Items subsequently restated in earnings statement: |
|
|
|
|
|
Valuation of financial instruments |
| 37.3 |
| 9.4 | |
Deferred taxes from valuation of financial instruments |
| –8.2 |
| –2.0 | |
| |||||
Items not subsequently restated in earnings statement: |
|
|
|
|
|
Changes in staff pension fund |
| 2.6 |
| –3.8 | |
Deferred taxes from changes in staff pension fund |
| –0.6 |
| 0.9 | |
Other comprehensive income |
|
| 31.1 |
| 4.5 |
| |||||
Total comprehensive income |
|
| 152.9 |
| 102.0 |
| |||||
Earnings per share in CHF |
| 7.66 |
| 6.30 | |
Diluted earnings per share in CHF |
| 7.34 |
| 6.07 |
[1]Restated values owing to change in presentation of pension fund assets and pension fund commitments in accordance with IAS 19 (revised), see Note 1.3