EPRA earnings and EPRA earnings per share

CHF million

   

1st half-year 2019

  

1st half-year 2018

Earnings according to IFRS income statement

   

85.1

  

70.3

Adjusted by:

      

Earnings from revaluation of investment real estate

   

–29.7

  

–12.9

Earnings from sale of investment real estate

   

0.0

  

0.0

Earnings from development real estate held for sale including impairment

   

–3.4

  

–2.1

Pro-rata income tax on sales

   

0.9

  

0.6

Negative goodwill / goodwill impairment

   

–

  

–

Change in the market value of financial instruments

   

3.5

  

6.0

Transaction costs for the purchase of shareholdings

   

–

  

–

Deferred taxes on EPRA adjustments

   

8.4

  

2.6

Effect on associated companies

   

–

  

–

Minority interests on the above positions

   

–

  

–

EPRA earnings

   

64.8

  

64.5

Average number of outstanding shares

   

15 886 232

 

15 887 687

EPRA earnings per share in CHF

   

4.08

  

4.06