4 Earnings from Projects & Development division
CHF million | 1st half-year | 1st half-year | ||
Income from realisation Projects & Development | 163.8 | 215.5 | ||
Direct expenses from realisation Projects & Development | –140.2 | –191.1 | ||
Earnings from realisation Projects & Development | 23.6 | 24.4 | ||
Income from sales Development | 65.5 | 170.3 | ||
Direct expenses from sales Development | –56.9 | –148.2 | ||
Income from sales Development | 8.6 | 22.1 | ||
Capitalised company-produced assets | 4.1 | 3.1 | ||
Diverse income | 1.1 | 0.2 | ||
Earnings from Projects & Development division | 37.4 | 49.8 |
Earnings from realisation Projects & Development consists of architects’ and project & development fees (CHF 13.3 million) and earnings from construction activity (CHF 12.9 million) (1st half-year 2016: CHF 17.3 million and CHF 8.0 million, re/spectively). This contrasts with directly offset sales deductions (CHF –2.6 million) (1st half-year 2016: CHF –0.9 million).
In the first half of 2017, ownership of land under the projects Fangleten-/Soli/strasse Bülach (CHF 29.7 million), Guggach Zurich (CHF 18.7 million), Pfruendmatt Mettmenstetten (CHF 8.6 million), Lerchenbergstrasse Erlenbach (CHF 6.4 million), Stauffacher Steinen (CHF 1.7 million) and Cholplatz Bülach (CHF 0.4 million) was transferred to third parties, resulting in gains on sales of CHF 8.6 million.