Consolidated statement of comprehensive income
CHF million | Note |
| 2015 |
| 2014 |
|
|
|
|
|
|
Income from renting investment real estate |
| 174.9 |
| 159.2 | |
Income from real estate management services |
| 6.1 |
| 6.6 | |
Income from realisation Projects & Development |
| 467.0 |
| 546.5 | |
Income from sales Development |
| 126.3 |
| 211.6 | |
Diverse income |
| 0.9 |
| 1.0 | |
Operating income |
|
| 775.2 |
| 924.9 |
| |||||
Direct expenses for rented investment real estate |
| –31.8 |
| −25.1 | |
Direct expenses from realisation Projects & Development |
| –418.6 |
| −500.8 | |
Direct expenses from sales Development |
| –108.3 |
| −177.0 | |
Direct operating expenses |
|
| –558.7 |
| −702.9 |
| |||||
Personnel expenses |
| –55.5 |
| −53.1 | |
Other operating expenses |
| –13.9 |
| −14.1 | |
Operating expenses |
|
| –69.4 |
| −67.2 |
| |||||
Capitalised company-produced assets |
| 11.5 |
| 21.5 | |
| |||||
Earnings from sale of investment real estate |
| 21.1 |
| 3.1 | |
| |||||
Higher valuation of yield-producing properties |
| 54.0 |
| 81.1 | |
Lower valuation of yield-producing properties |
| –52.0 |
| −86.3 | |
Higher valuation of investment real estate under construction |
| 13.8 |
| 0.0 | |
Lower valuation of investment real estate under construction |
| 0.0 |
| −0.7 | |
Earnings from revaluation of investment real estate |
|
| 15.8 |
| −5.9 |
| |||||
EBITDA |
|
| 195.5 |
| 173.5 |
| |||||
Depreciation of other property, plant and equipment |
| –0.4 |
| −0.7 | |
Depreciation of intangible assets |
| –1.9 |
| −1.9 | |
Operating profit (EBIT) |
|
| 193.2 |
| 170.9 |
| |||||
Financial income |
| 1.8 |
| 0.8 | |
Financial expense |
| –43.6 |
| −37.9 | |
Net profit before tax |
|
| 151.4 |
| 133.8 |
| |||||
Tax expense |
| –29.5 |
| −29.4 | |
Net profit |
|
| 121.9 |
| 104.4 |
|
|
|
|
|
|
Items subsequently restated in earnings statement: |
|
|
|
|
|
Valuation of financial instruments |
| 1.5 |
| −30.5 | |
Deferred taxes from valuation of financial instruments |
| –0.3 |
| 6.7 | |
| |||||
Items not subsequently restated in earnings statement: |
|
|
|
|
|
Changes in staff pension fund |
| 11.4 |
| −16.0 | |
Deferred taxes from changes in staff pension fund |
| –2.5 |
| 3.5 | |
Other comprehensive income |
|
| 10.1 |
| −36.3 |
| |||||
Total comprehensive income |
|
| 132.0 |
| 68.1 |
| |||||
Earnings per share in CHF |
| 7.66 |
| 6.56 | |
Diluted earnings per share in CHF |
| 7.67 |
| 6.57 |