4 Earnings from Projects & Development division
CHF million | 1st half-year | 1st half-year | ||
Income from realisation Projects & Development | 147.4 | 140.1 | ||
Direct expenses from realisation Projects & Development | –126.7 | –119.9 | ||
Earnings from realisation Projects & Development | 20.7 | 20.2 | ||
Income from sales Development | 22.4 | 27.5 | ||
Direct expenses from sales Development | –19.0 | –25.4 | ||
Income from sales Development | 3.4 | 2.1 | ||
Capitalised company-produced assets | 3.4 | 3.4 | ||
Diverse income | 0.6 | 1.5 | ||
Earnings from Projects & Development division | 28.1 | 27.2 |
Earnings from realisation Projects & Development consists of architects’ and project & development fees (CHF 11.1 million) and earnings from construction activity (CHF 12.1 million) (1st half-year 2018: CHF 12.3 million and CHF 8.8 million, respectively). This contrasts with directly offset sales deductions (CHF 2.5 million) (1st half-year 2018: CHF 0.9 million).
Income from sales Development is attributable to revenue from the project Solistrasse in Bülach ZH (CHF 22.4 million) which comprises 73 units, resulting in gains on sales of CHF 3.4 million. As at the balance sheet cut-off date, contracts of sale had been notarised for 71 units.