EPRA earnings and EPRA earnings per share

CHF million

   

1st half-year 2017

  

1st half-year 2016

Earnings according to IFRS income statement

   

66.0

  

69.8

Adjusted by:

      

Earnings from revaluation of investment real estate

   

–8.7

  

–10.3

Earnings from sale of investment real estate

   

0.0

  

–5.6

Earnings from development real estate held for sale including impairment

   

–8.6

  

–22.1

Pro-rata income tax on sales

   

2.4

  

8.6

Negative goodwill/goodwill impairment

   

0.0

  

–

Change in the market value of financial instruments

   

5.2

  

3.2

Transaction costs for the purchase of shareholdings

   

–

  

–

Deferred taxes on EPRA adjustments

   

2.0

  

1.9

Effect on associated companies

   

–

  

–

Minority interests on the above positions

   

–

  

–

EPRA earnings

   

58.3

  

45.5

Average number of outstanding shares

   

15 934 047

 

15 934 992

EPRA earnings per share in CHF

   

3.66

  

2.86