Key figures at a glance
1st half-year 2019 | 1st half-year 2018 | Change | ||||||
Group | ||||||||
Total sales2 | CHF million | 281.5 | 266.9 | 5.5 | ||||
Operating profit (EBIT) incl. revaluation gains | CHF million | 121.8 | 104.9 | 16.1 | ||||
Net profit incl. revaluation effect | CHF million | 85.1 | 70.3 | 21.1 | ||||
Operating profit (EBIT) excl. revaluation gains | CHF million | 92.1 | 92.0 | 0.1 | ||||
Net profit excl. revaluation effect | CHF million | 63.8 | 61.3 | 4.1 | ||||
Cash flow | CHF million | 63.6 | 63.7 | –0.2 | ||||
Return on equity incl. revaluation effect (annualised) | % | 7.7 | 6.6 | 1.1 | ||||
Return on equity excl. revaluation effect (annualised) | % | 6.6 | 6.4 | 0.2 | ||||
Equity ratio on cut-off date | % | 47.1 | 48.1 | –1.0 | ||||
Net gearing3 on cut-off date | % | 94.3 | 91.5 | 2.8 | ||||
Average interest rate on financial liabilities on cut-off date | % | 1.27 | 1.48 | –0.21 | ||||
Average duration of financial liabilities | months | 46 | 52 | –6 | ||||
Sales Projects & Development division | CHF million | 178.9 | 166.0 | 7.8 | ||||
Earnings from Projects & Development division4 | CHF million | 28.1 | 27.2 | 3.3 | ||||
Gross margin third-party projects Projects & Development division5 | % | 14.0 | 14.4 | –0.4 | ||||
Employees on cut-off date | number of full-time | 220 | 216 | 4 | ||||
Share | ||||||||
Earnings per share incl. revaluation effect | CHF | 5.36 | 4.42 | 21.3 | ||||
Earnings per share excl. revaluation effect | CHF | 4.02 | 3.86 | 4.1 | ||||
Net asset value (NAV) per share before deferred taxes on cut-off date | CHF | 153.15 | 152.85 | 0.2 | ||||
Net asset value (NAV) per share after deferred taxes on cut-off date | CHF | 138.95 | 139.65 | –0.5 | ||||
Share price on cut-off date | CHF | 168.00 | 153.10 | 9.7 | ||||
Valuation on cut-off date | ||||||||
Market capitalisation6 | CHF million | 2 669.0 | 2 432.1 | 9.7 | ||||
Enterprise value (EV)7 | CHF million | 4 751.9 | 4 463.4 | 6.5 |
* Should no further particulars be given, values referring to the income statement concern the 1st half-year, and balance sheet value the cut-off dates on 30.06.2019 or as at 31.12.2018
1 Changes in quantum and percentage values shown as absolute difference
2 Income resulting from rental of investment real estate and real estate management services plus completed project volume Projects & Development division
3 Financial liabilities minus cash as percentage of equity
4 Income from realisation Projects & Development, sales Development, capitalised company-produced assets and diverse income minus direct expenses for realisation Projects & Development and sales Development
5 Earnings from realisation Projects & Development in percent of income from realisation Projects & Development
6 Stock price at balance sheet date multiplied by the number of outstanding shares
7 Market capitalisation plus net debts
Charts Key figures