Key figures at a glance
1st half-year 2020 | 1st half-year 2019 | Change | ||||||
Group | ||||||||
Total sales2 | CHF million | 278.7 | 280.8 | –0.7 | ||||
Operating profit (EBIT) incl. revaluation gains | CHF million | 113.8 | 122.1 | –6.8 | ||||
Net profit incl. revaluation effect3 | CHF million | 86.4 | 89.2 | –3.1 | ||||
Operating profit (EBIT) excl. revaluation gains | CHF million | 86.1 | 91.9 | –6.3 | ||||
Net profit excl. revaluation effect3 | CHF million | 63.0 | 67.4 | –6.5 | ||||
Cash flow from operating activities | CHF million | 68.2 | 61.5 | 10.2 | ||||
Return on equity incl. revaluation effect3 | % | 7.4 | 7.7 | –0.3 | ||||
Return on equity excl. revaluation effect3 | % | 6.4 | 6.8 | –0.4 | ||||
Equity ratio on cut-off date | % | 48.3 | 49.7 | –1.4 | ||||
Net gearing4 on cut-off date | % | 87.2 | 83.8 | 3.4 | ||||
Average interest rate on financial liabilities on cut-off date | % | 0.83 | 0.88 | –0.05 | ||||
Average duration of financial liability on cut-off date | months | 49 | 56 | –7 | ||||
Sales Projects & Development division | CHF million | 178.6 | 178.9 | –0.2 | ||||
Earnings from Projects & Development division5 | CHF million | 24.6 | 28.1 | –12.5 | ||||
Gross margin third-party projects Projects & Development division6 | % | 13.8 | 14.0 | –0.2 | ||||
Employees on cut-off date | Number of full-time | 214 | 220 | –6 | ||||
Share | ||||||||
Earnings per share incl. revaluation effect3 | CHF | 5.43 | 5.61 | –3.2 | ||||
Earnings per share excl. revaluation effect3 | CHF | 3.96 | 4.26 | –7.0 | ||||
Net asset value (NAV) per share before deferred taxes on cut-off date | CHF | 163.20 | 163.85 | –0.4 | ||||
Net asset value (NAV) per share after deferred taxes on cut-off date | CHF | 146.70 | 148.10 | –0.9 | ||||
Share price on cut-off date | CHF | 187.60 | 192.40 | –2.5 | ||||
Valuation on cut-off date | ||||||||
Market capitalisation7 | CHF million | 2 982.8 | 3 058.6 | –2.5 | ||||
Enterprise value (EV)8 | CHF million | 5 016.2 | 5 030.2 | –0.3 |
* Should no further particulars be given, values referring to the income statement concern the first half-year, and balance sheet values the cut-off date on 30.06.2020 or as at 31.12.2019. The consolidated half-year financial statements 2020 were prepared in accordance with Swiss GAAP FER for the first time. The previous year’s figures have been restated accordingly. The presentation of alternative performance measures can be found at www.allreal.ch
1 Changes in quantum and percentage values are shown as absolute difference
2 Income resulting from rental of investment real estate plus completed project volume Projects & Development division
3 Revaluation effects correspond to gains from the revaluation of investment real estate less deferred taxes on revaluation
4 Finance liabilities minus cash as percentage of equity
5 Income from realisation in Projects & Development, sales Development, capitalised company-produced assets and various revenues minus direct expenses from realisation Projects & Development and sales Development
6 Earnings from realisation Projects & Development in percent of income from realisation Projects & Development
7 Stock price at cut-off date multiplied by the number of outstanding shares
8 Market capitalisation plus net finance debts
Charts Key figures