EPRA operating expense ratio
CHF million | 1st half-year 2018 | 1st half-year 2017 | |||
Operating expenses of investment real estate according to IFRS income statement: | |||||
Direct expenses for rented investment real estate | 8.9 | 11.1 | |||
Personnel expenses | 1.3 | 3.1 | |||
Other operating expenses | 4.3 | 1.9 | |||
EPRA operating expenses (including vacancy costs) | 14.5 | 16.1 | |||
Direct vacancy costs | 0.2 | 0.9 | |||
EPRA operating expenses (excluding vacancy costs) | 14.3 | 15.2 | |||
Gross rental income less ground rent | 97.8 | 87.5 | |||
EPRA rental income | 97.8 | 87.5 | |||
EPRA operating expense ratio (including direct vacancy costs) | 14.8% | 18.4% | |||
EPRA operating expense ratio (excluding direct vacancy costs) | 14.6% | 17.4% |