1 Group structure and shareholders
1.1 Group structure
Allreal Group operates solely in Switzerland. Its legal structure and participating interests are shown below.
Allreal | ||||||||||||
Allreal | Allreal | Allreal | Allreal | Allreal | Apalux AG | Allreal | ||||||
Allreal | Bülachguss AG |
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Company | Registered office | Share capital | % of shares held | |||
Allreal Home AG | Zurich | 26.52 | 100.00 | |||
Allreal Office AG | Zurich | 150.00 | 100.00 | |||
Allreal Toni AG | Zurich | 90.00 | 100.00 | |||
Allreal Vulkan AG | Zurich | 50.00 | 100.00 | |||
Allreal West AG | Zurich | 20.00 | 100.00 | |||
Apalux AG | Zurich | 0.90 | 100.00 | |||
Allreal Finanz AG | Baar | 100.50 | 100.00 | |||
Allreal Generalunternehmung AG | Zurich | 10.00 | 100.00 | |||
Bülachguss AG | Bülach | 0.10 | 100.00 |
All shareholdings are unlisted companies which are fully consolidated in the Group’s financial statements.
Compared with the previous year, the scope of consolidation changed on 28 March 2018 following the sale of the 100% shareholding in Hammer Retex AG, Cham, previously held directly by Allreal Holding AG.
Operationally, the Group is structured into two divisions:
Real Estate division
Investments in residential and commercial properties, including properties with particular development potential and investment real estate under construction. Various real estate services (real estate and building management) are also provided for its own yield-producing properties.
Projects & Development division
Combination of development, realisation and other real estate services (residential property sales, real estate consultancy and contract administration).
Allreal Holding AG has its registered office in Baar, Switzerland, and is listed on SIX Swiss Exchange. As at 31 December 2018, market capitalisation amounted to CHF 2,432.1 million. The registered shares are traded on the main segment (security number 883756, ISIN CH0008837566, symbol ALLN).
1.2 Significant shareholders
As at 31 December, the following shareholders were entered in the share register of Allreal Holding AG as having a shareholding (direct and/or indirect) which exceeds a threshold of 3% or have informed the company accordingly by means of a disclosure notice ("Significant shareholders"):
2018 | 2017 | |||
Helvetia Group, St. Gallen1 | 10.6% | 10.6% | ||
PKE-CPE Pension Foundation, Zurich | 3.8% | 4.3% | ||
Swiss Mobiliar Group, Bern2 | 3.5% | 3.8% | ||
GastroSocial Pension Fund, Aarau | 3.4% | 3.4% | ||
Pension Fund of the Canton of Basel-Landschaft, Liestal | 3.1% | 3.1% | ||
BlackRock Inc., New York, USA | > 3% | > 3% | ||
Credit Suisse Funds AG Zurich | > 3% | – | ||
Dimensional Holdings Inc., Delaware, USA | > 3% | – | ||
Rheinmetall Pension Fund, Zurich | < 3% | 3.2% |
1 Holding via wholly owned subsidiaries Helvetia Swiss Life Insurance Company Ltd, Basel, Helvetia Swiss Insurance Company Ltd, St. Gallen, and Pension Fund of Helvetia Insurance, St. Gallen
2 Holding via wholly owned subsidiaries Swiss Mobiliar Insurance Company Ltd, Bern, Swiss Mobiliar Life Insurance Company Ltd, Nyon, Swiss Mobiliar Asset Management Ltd, Bern, and Protekta Legal Protection Insurance Ltd, Bern
For further details of the composition of the shareholder base see page 153 of the Annual Report.
In the 2018 financial year, three further disclosure notices were also filed by Norges Bank (the Central Bank of Norway), N-Oslo, on having exceeded or fallen below the threshold of a 3% holding in Allreal Holding AG.
Particulars of these shareholders can be found on the SIX Swiss Exchange website under "Significant shareholders" (www.six-exchange-regulation.com/en/home/publications/significant-shareholders.html).
1.3 Cross-shareholdings
There are no cross-shareholdings.