EPRA earnings and EPRA earnings per share

CHF million

   

2016

  

2015

Earnings according to IFRS income statement

   

173.6

  

121.9

Adjusted by:

      

Earnings from revaluation of investment real estate

   

–85.0

  

–15.8

Earnings from sale of investment real estate

   

–5.6

  

–21.1

Earnings from development real estate held for sale including impairment

   

–34.6

  

–18.0

Pro-rata income tax on sales

   

14.7

  

11.4

Negative goodwill/goodwill impairment

   

0.0

  

0.0

Change in the market value of financial instruments

   

17.9

  

5.1

Transaction costs for the purchase of shareholdings

   

0.0

  

0.0

Deferred taxes on EPRA adjustments

   

23.6

  

3.6

Effect on associated companies

   

0.0

  

0.0

Minority interests on the above positions

   

0.0

  

0.0

EPRA earnings

   

104.6

  

87.1

Average number of outstanding shares

   

15 928 815

  

15 907 369

EPRA earnings per share in CHF

   

6.57

  

5.47