Consolidated statement of comprehensive income
CHF million | Note | 2016 | 2015 | ||
Income from renting investment real estate | 173.3 | 174.9 | |||
Income from real estate management services | 4.7 | 6.1 | |||
Income from realisation Projects & Development | 414.7 | 467.0 | |||
Income from sales Development | 232.1 | 126.3 | |||
Diverse income | 0.6 | 0.9 | |||
Operating income | 825.4 | 775.2 | |||
Direct expenses for rented investment real estate | –24.4 | –31.8 | |||
Direct expenses from realisation Projects & Development | –372.0 | –418.6 | |||
Direct expenses from sales Development | –197.5 | –108.3 | |||
Direct operating expenses | –593.9 | –558.7 | |||
Personnel expenses | –49.4 | –55.5 | |||
Other operating expenses | –12.8 | –13.9 | |||
Operating expenses | –62.2 | –69.4 | |||
Capitalised company-produced assets | 6.1 | 11.5 | |||
Earnings from sale of investment real estate | 5.6 | 21.1 | |||
Higher valuation of yield-producing properties | 108.4 | 54.0 | |||
Lower valuation of yield-producing properties | –30.1 | –52.0 | |||
Higher valuation of investment real estate under construction | 8.6 | 13.8 | |||
Lower valuation of investment real estate under construction | –1.9 | 0.0 | |||
Earnings from revaluation of investment real estate | 85.0 | 15.8 | |||
EBITDA | 266.0 | 195.5 | |||
Depreciation other property, plant and equipment | –0.4 | –0.4 | |||
Depreciation intangible assets | 0.0 | –1.9 | |||
Operating profit (EBIT) | 265.6 | 193.2 | |||
Financial income | 1.8 | 1.8 | |||
Financial expenses | –39.5 | –43.6 | |||
Earnings before tax | 227.9 | 151.4 | |||
Tax expenses | –54.3 | –29.5 | |||
Net profit | 173.6 | 121.9 | |||
Items subsequently restated in profit or loss statement: | |||||
Valuation of financial instruments | 17.9 | 1.5 | |||
Deferred taxes resulting from valuation of financial instruments | –3.9 | –0.3 | |||
Items not subsequently restated in profit or loss statement: | |||||
Changes in employee benefits | –7.9 | 11.4 | |||
Deferred taxes from changes in employee benefits | 1.7 | –2.5 | |||
Other comprehensive income | 7.8 | 10.1 | |||
Total comprehensive income | 181.4 | 132.0 | |||
Earnings per share in CHF | 10.90 | 7.66 | |||
Diluted earnings per share in CHF | 10.90 | 7.651 |
1 figure restated following change in calculation of diluted earnings per share; see 1.3