CHF million | Real estate | Projects & | Total segments | Holding/ eliminations | Total |
Income statement | |||||
Operating income | 178.0 | 647.4 | 825.4 | 0.0 | 825.4 |
Profit from intercompany services | –5.0 | 5.6 | 0.6 | –0.6 | 0.0 |
Direct operating expenses | –24.4 | –569.5 | –593.9 | 0.0 | –593.9 |
Operating expenses | –6.2 | –54.8 | –61.0 | –1.2 | –62.2 |
Capitalised company-produced assets | 0.0 | 6.1 | 6.1 | 0.0 | 6.1 |
Earnings from sale of investment real estate | 5.6 | 0.0 | 5.6 | 0.0 | 5.6 |
Earnings from revaluation of investment real estate | 85.0 | 0.0 | 85.0 | 0.0 | 85.0 |
EBITDA | 233.0 | 34.8 | 267.8 | –1.8 | 266.0 |
Depreciation and amortisation | 0.0 | –0.4 | –0.4 | 0.0 | –0.4 |
Operating profit (EBIT) | 233.0 | 34.4 | 267.4 | –1.8 | 265.6 |
Financial income | 1.8 | 0.0 | 1.8 | 0.0 | 1.8 |
Financial expenses | –37.3 | –2.2 | –39.5 | 0.0 | –39.5 |
Tax expenses | –42.6 | –10.8 | –53.4 | –0.9 | –54.3 |
Net profit | 154.9 | 21.4 | 176.3 | –2.7 | 173.6 |
EBITDA excl. revaluation gains | 148.0 | 34.8 | 182.8 | –1.8 | 181.0 |
Operating profit (EBIT) excl. revaluation gains | 148.0 | 34.4 | 182.4 | –1.8 | 180.6 |
Net profit excl. revaluation effect | 93.5 | 21.4 | 114.9 | –2.7 | 112.2 |
Operating margin in percent1 | 93.0 | 41.0 | 75.0 | 0.0 | 74.3 |
Rental income and income from real estate management | 178.0 | 0.0 | 178.0 | 0.0 | 178.0 |
Completed project volume third-party projects | 0.0 | 414.7 | 414.7 | 0.0 | 414.7 |
Completed project volume own projects | 0.0 | 79.0 | 79.0 | 0.0 | 79.0 |
Total sales (according to internal reporting) | 178.0 | 493.7 | 671.7 | 0.0 | 671.7 |
less sales from intercompany services | 0.0 | –51.8 | –51.8 | 0.0 | –51.8 |
Total sales to third parties (according to internal reporting) | 0.0 | 441.9 | 441.9 | 0.0 | 441.9 |
plus reconciliation item external reporting2 | 0.0 | 204.9 | 204.9 | 0.0 | 204.9 |
Diverse income | 0.0 | 0.6 | 0.6 | 0.0 | 0.6 |
Operating income | 178.0 | 647.4 | 825.4 | 0.0 | 825.4 |
Balance sheet as at 31.12.2016 | |||||
Non-current assets | 3 743.0 | 4.2 | 3 747.2 | 0.0 | 3747.2 |
Current assets | 11.0 | 232.3 | 243.3 | 2.4 | 245.7 |
Total assets | 3 754.0 | 236.5 | 3 990.5 | 2.4 | 3 992.9 |
Provisions | 0.0 | 21.0 | 21.0 | 0.0 | 21.0 |
Other debt (excl. financing and taxes) | 12.9 | 71.6 | 84.5 | 0.0 | 84.5 |
Financial liabilities | 1 561.4 | 39.3 | 1 600.7 | 0.0 | 1 600.7 |
Tax liabilities | 189.8 | 10.0 | 199.8 | 0.1 | 199.9 |
Total debt | 1 764.1 | 141.9 | 1 906.0 | 0.1 | 1 906.1 |
Total assigned equity3 | 1 989.9 | 94.6 | 2 084.5 | 2.3 | 2 086.8 |
Investment in non-current assets | 54.5 | 0.3 | 54.8 | 0.0 | 54.8 |
1 EBIT less revaluation gains in percent of income from business activity (balance of operating income, direct operating expenses, capitalised company-produced assets and earnings from sale of investment real estate)
2 See 2.7 for an explanation of the reconciliation item
3 Assignment of equity to individual segments corresponds to internal financial reporting guidelines requiring an equity ratio of 40% for the Projects & Development division; financial and tax liabilities will be assigned accordingly
Allreal Group operates in Switzerland only. A geographical breakdown of sales and non-current assets is therefore not required.