Key figures at a glance
2019 31.12.2019 | * | 2018 31.12.2018 | * | Change | ||||
Group | ||||||||
Total sales2 | CHF million | 545.1 | 549.9 | –0.9 | ||||
Operating profit (EBIT) incl. revaluation gains | CHF million | 328.8 | 235.6 | 39.6 | ||||
Net profit incl. revaluation effect3 | CHF million | 234.8 | 161.0 | 45.8 | ||||
Operating profit (EBIT) excl. revaluation gains | CHF million | 189.7 | 175.0 | 8.4 | ||||
Net profit excl. revaluation effect3 | CHF million | 134.6 | 115.6 | 16.4 | ||||
Cash flow | CHF million | 199.6 | 82.6 | 141.6 | ||||
Return on equity incl. revaluation effect3 | % | 10.2 | 7.3 | 2.9 | ||||
Return on equity excl. revaluation effect3 | % | 6.8 | 5.9 | 0.9 | ||||
Equity ratio on cut-off date | % | 49.4 | 48.1 | 1.3 | ||||
Net gearing4 on cut-off date | % | 83.2 | 91.5 | –8.3 | ||||
Average duration of financial liability on cut-off date | % | 1.33 | 1.48 | –0.15 | ||||
Average interest rate on financial liabilities on cut-off date | months | 56 | 52 | 4 | ||||
Sales Projects Development division | CHF million | 340.7 | 351.9 | –3.2 | ||||
Earnings from Projects Development division5 | CHF million | 66.3 | 52.6 | 26.0 | ||||
Gross margin third-party projects Projects Development division6 | % | 13.3 | 13.0 | 0.3 | ||||
Employees on cut-off date | full-time equivalents | 220 | 216 | 4 | ||||
Share | ||||||||
Earnings per share incl. revaluation effect3 | CHF | 14.78 | 10.13 | 45.9 | ||||
Earnings per share excl. revaluation effect3 | CHF | 8.47 | 7.28 | 16.3 | ||||
Net asset value (NAV) per share before deferred tax on cut-off date | CHF | 165.00 | 152.85 | 7.9 | ||||
Net asset value (NAV) per share after deferred tax on cut-off date | CHF | 149.00 | 139.65 | 6.7 | ||||
Profit distribution per share7 | CHF | 6.75 | 6.50 | 3.8 | ||||
Share price on cut-off date | CHF | 192.40 | 153.10 | 25.7 | ||||
Dividend/Profit distribution yield8 | % | 3.5 | 4.2 | –0.7 | ||||
Valuation on cut-off date | ||||||||
Market capitalisation9 | CHF million | 3 058.6 | 2 432.1 | 25.8 | ||||
Enterprise value10 | CHF million | 5 030.2 | 4 463.4 | 12.7 |
* Should no further particulars be given, values referring to the income statement concern the full year and balance sheet value the cut-off dates
31.12.2019 resp. 31.12.2018
1 Changes in quantum and percentage values shown as absolute difference
2 Sales resulting from rental of investment real estate plus completed project volume Projects Development division
3 Revaluation effects correspond to gains from the revaluation of investment real estate less deferred taxes on revaluation
4 Finance liabilities minus cash and marketable securities as percentage of equity
5 Income from realisation in Projects Development, Sales Development, capitalised company-produced assets and various revenues minus direct
expenses from realisation in Projects Development, Sales Development
6 Earnings from realisation Projects Development in percent of income from realisation Projects Development
7 Board of Directors proposal of CHF 6.75 per share for the 2019 financial year
8 Yield corresponds to the distribution per share in percent of the market price on the cut-off date
9 Stock price at balance sheet date multiplied by the number of outstanding shares
10 Market capitalisation plus net finance debts
Key figures at a glance (Charts)