CHF million | Real Estate | Projects & Development | Total segments | Holding/ eliminations | Total | |||||
Income statement | ||||||||||
Operating income | 183.4 | 432.0 | 615.4 | 0.0 | 615.4 | |||||
Profit from intercompany services | –5.0 | 5.6 | 0.6 | –0.6 | 0.0 | |||||
Direct operating expenses | –24.6 | –372.8 | –397.4 | 0.0 | –397.4 | |||||
Operating expenses | –7.0 | –51.2 | –58.2 | –1.3 | –59.5 | |||||
Capitalised company-produced assets | 0.0 | 7.5 | 7.5 | 0.0 | 7.5 | |||||
Earnings from sale of investment real estate | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||
Earnings from revaluation of investment real estate | 21.8 | 0.0 | 21.8 | 0.0 | 21.8 | |||||
EBITDA | 168.6 | 21.1 | 189.7 | –1.9 | 187.8 | |||||
Depreciation and amortisation | 0.0 | –0.3 | –0.3 | 0.0 | –0.3 | |||||
Operating profit (EBIT) | 168.6 | 20.8 | 189.4 | –1.9 | 187.5 | |||||
Financial income | 1.7 | 0.0 | 1.7 | 0.0 | 1.7 | |||||
Financial expenses | –28.3 | –0.9 | –29.2 | 0.0 | –29.2 | |||||
Tax expenses | –25.1 | –4.8 | –29.9 | –0.9 | –30.8 | |||||
Net profit | 116.9 | 15.1 | 132.0 | –2.8 | 129.2 | |||||
EBITDA excl. revaluation gains | 146.8 | 21.1 | 167.9 | –1.9 | 166.0 | |||||
Operating profit (EBIT) excl. revaluation gains | 146.8 | 20.8 | 167.6 | –1.9 | 165.7 | |||||
Net profit excl. revaluation effect | 101.0 | 15.1 | 116.1 | –2.8 | 113.3 | |||||
Operating margin in percent1 | 92.4 | 31.6 | 74.5 | 0.0 | 73.6 | |||||
Rental income and income from real estate management | 183.4 | 0.0 | 183.4 | 0.0 | 183.4 | |||||
Completed project volume third-party projects | 0.0 | 343.3 | 343.3 | 0.0 | 343.3 | |||||
Completed project volume own projects | 0.0 | 76.7 | 76.7 | 0.0 | 76.7 | |||||
Total sales (according to internal reporting) | 183.4 | 420.0 | 603.4 | 0.0 | 603.4 | |||||
less sales from intercompany services | 0.0 | –56.6 | –56.6 | 0.0 | –56.6 | |||||
Total sales to third parties | 183.4 | 363.4 | 546.8 | 0.0 | 546.8 | |||||
plus reconciliation item external reporting2 | 0.0 | 66.2 | 66.2 | 0.0 | 66.2 | |||||
Diverse income | 0.0 | 2.4 | 2.4 | 0.0 | 2.4 | |||||
Operating income | 183.4 | 432.0 | 615.4 | 0.0 | 615.4 | |||||
Balance sheet as at 31.12.2017 | ||||||||||
Non-current assets | 4 113.1 | 11.4 | 4 124.5 | 0.0 | 4 124.5 | |||||
Current assets | 7.8 | 225.6 | 233.4 | 1.7 | 235.1 | |||||
Total assets | 4 120.9 | 237.0 | 4 357.9 | 1.7 | 4 359.6 | |||||
Provisions | 0.0 | 7.0 | 7.0 | 0.0 | 7.0 | |||||
Other debt (excl. financing and taxes) | 10.0 | 66.2 | 76.2 | 0.0 | 76.2 | |||||
Financial liabilities | 1 855.0 | 58.0 | 1 913.0 | 0.0 | 1 913.0 | |||||
Tax liabilities | 200.6 | 11.1 | 211.7 | 1.0 | 212.7 | |||||
Total debt | 2 065.6 | 142.3 | 2 207.9 | 1.0 | 2 208.9 | |||||
Total assigned equity3 | 2 055.3 | 94.7 | 2 150.0 | 0.7 | 2 150.7 | |||||
Investment in non-current assets | 53.4 | 0.4 | 53.8 | 0.0 | 53.8 |
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.