Consolidated statement of comprehensive income
CHF million | Notes | 1st half-year 2017 | 1st half-year 2016 | |||
Income from renting investment real estate | 2 | 87.5 | 86.5 | |||
Income from real estate management services | 3 | 2.3 | 2.2 | |||
Income from realisation Projects & Development | 4 | 163.8 | 215.5 | |||
Income from sales Development | 4 | 65.5 | 170.3 | |||
Diverse income | 4 | 1.1 | 0.2 | |||
Operating income | 320.2 | 474.7 | ||||
Direct expenses for rented investment real estate | 5 | –11.1 | –11.5 | |||
Direct expenses from realisation Projects & Development | 4 | –140.2 | –191.1 | |||
Direct expenses from sales Development | 4 | –56.9 | –148.2 | |||
Direct operating expenses | –208.2 | –350.8 | ||||
Personnel expenses | –23.6 | –25.1 | ||||
Other operating expenses | –6.6 | –7.1 | ||||
Operating expenses | –30.2 | –32.2 | ||||
Capitalised company-produced assets | 4.1 | 3.1 | ||||
Earnings from sale of investment real estate | 6 | 0.0 | 5.6 | |||
Higher valuation of yield-producing properties | 15.3 | 21.6 | ||||
Lower valuation of yield-producing properties | –10.6 | –17.8 | ||||
Higher valuation of investment real estate under construction | 5.3 | 6.5 | ||||
Lower valuation of investment real estate under construction | –1.3 | 0.0 | ||||
Earnings from revaluation of investment real estate | 7 | 8.7 | 10.3 | |||
EBITDA | 94.6 | 110.7 | ||||
Depreciation other property, plant and equipment | –0.2 | –0.3 | ||||
Amortisation intangible assets | 0.0 | 0.0 | ||||
Operating profit (EBIT) | 94.4 | 110.4 | ||||
Finance income | 0.9 | 0.9 | ||||
Finance expenses | 8 | –14.4 | –22.5 | |||
Net profit before tax | 80.9 | 88.8 | ||||
Tax expenses | –14.9 | –19.0 | ||||
Net profit | 66.0 | 69.8 | ||||
Items subsequently restated in profit or loss statement: | ||||||
Valuation of financial instruments | 6.6 | –2.5 | ||||
Deferred taxes resulting from valuation of financial instruments | –1.4 | 0.5 | ||||
Items not subsequently restated in profit or loss statement: | ||||||
Changes in employee benefits | 10.3 | –13.5 | ||||
Deferred taxes from changes in employee benefits | –2.3 | 3.0 | ||||
Other comprehensive income | 13.2 | –12.5 | ||||
Total comprehensive income | 79.2 | 57.3 | ||||
Earnings per share in CHF | 4.14 | 4.38 | ||||
Diluted earnings per share in CHF | 4.14 | 4.391 |
1 Figure restated following change in calculation of diluted earnings per share; see 1.2