4 Earnings from Projects & Development division
CHF million | 1st half-year | 1st half-year | ||
Income from realisation Projects & Development | 140.1 | 163.8 | ||
Direct expenses from realisation Projects & Development | –119.9 | –140.2 | ||
Earnings from realisation Projects & Development | 20.2 | 23.6 | ||
Income from sales Development | 27.5 | 65.5 | ||
Direct expenses from sales Development | –25.4 | –56.9 | ||
Income from sales Development | 2.1 | 8.6 | ||
Capitalised company-produced assets | 3.4 | 4.1 | ||
Diverse income | 1.5 | 1.1 | ||
Earnings from Projects & Development division | 27.2 | 37.4 |
Earnings from realisation Projects & Development consists of architects’ and project & development fees (CHF 12.3 million) and earnings from construction activity (CHF 8.8 million) (1st half-year 2017: CHF 13.3 million and CHF 12.9 million, respectively). This contrasts with directly offset sales deductions (CHF 0.9 million) (1st half-year 2017: CHF –2.6 million).
Income from sales Development was attributable to the disposal of the development property at Grindelstrasse Bassersdorf ZH (CHF 20.3 million) and to revenue from the projects Solistrasse Bülach ZH (CHF 2.3 million) and Kirschblütenweg Basel (CHF 4.9 million), resulting in gains on sales of CHF 2.1 million. Under the project Solistrasse Bülach ZH, contracts of sale had been notarised for 8 units, and 36 units were reserved.