Segment information

in CHF thousands	Switzerland	Germany	Holding 1	Consolida- tion 2	Group incl. discontinued operations	Correction discontinued operations	Total Group
Income Statement 1.4.2017 — 31.3.2018

Rental income	8 086	4 355	0		12 441	–4 355	8 086
Intercompany	0	0	848	–848	0	0	0
Total operating income	8 086	4 355	848	–848	12 441	–4 355	8 086
Real estate expense	–561	–251	–181	322	–671	251	–420
Maintenance and repairs	–215	–202	0		–417	202	–215
Net operating income	7 310	3 902	667	–526	11 353	–3 902	7 451

Personnel expenses	0	–523	–3 326		–3 849	523	–3 326
Administrative expense 3	–747	105	–869	526	–985	–232	–1 217
Change in market value	1 505	–1 785	0		–280	1 785	1 505

Earnings before interest and taxes (EBIT)	8 068	1 699	–3 528	0	6 239	–1 826	4 413
Net financial expenses	–4 183	2 106	340		–1 737	–2 106	–3 843
Earnings before taxes	3 885	3 805	–3 188	0	4 502	–3 932	570
Income taxes	122	–10	5		117	10	127
Earnings	4 007	3 795	–3 183	0	4 619	–3 922	697
Non-cash effects in EBIT	1 505	–10	–17		1 478	10	1 488


Balance Sheet per 31.3.2018

Investment properties	200 120	0	0		200 120		200 120
Other assets	4 714	0	62 359	–57 797	9 276		9 276
Total assets	204 834	0	62 359	–57 797	209 396		209 396

Mortgages	65 705	0	0		65 705		65 705
Other liabilities	69 527	0	3 052	–57 797	14 782		14 782
Total liabilities	135 232	0	3 052	–57 797	80 487		80 487

1 The segment “Holding” includes Züblin Immobilien Holding AG and its domestic and foreign subsidiaries, which do not hold any assets.

2 Consolidation of Intercompany Management Fees and Property Management Fees in the income statement as well as intercompany loans and current accounts in the balance sheet.

3 The administrative expense of the German segment includes income from the reversal of liabilities of kCHF 268.

in CHF thousands	Switzerland	Germany	Holding 1	Consolida- tion 2	Group incl. discontinued operations	Correction discontinued operations	Total Group
Income Statement 1.4.2016 — 31.3.2017

Rental income	8 030	10 899	0		18 929	–10 899	8 030
Intercompany	0	0	975	–975	0	0	0
Total operating income	8 030	10 899	975	–975	18 929	–10 899	8 030
Real estate expense	–620	–922	0	580	–962	650	–312
Maintenance and repairs	–143	–654	0		–797	654	–143
Net operating income	7 267	9 323	975	–395	17 170	–9 595	7 575

Personnel expenses	0	–698	–3 069		–3 767	698	–3 069
Administrative expense	–218	–313	–1 297	395	–1 435	313	–1 122
Change in market value	2 369	23 954	0		26 323	–23 954	2 369

Earnings before interest and taxes (EBIT)	9 418	32 266	–3 391	0	38 291	–32 538	5 753
Net financial expenses	–1 622	–2 845	–372		–4 839	2 845	–1 994
Earnings before taxes	7 796	29 421	–3 763	0	33 452	–29 693	3 759
Income taxes	–1 587	–1 881	–59		–3 527	1 881	–1 646
Earnings	6 209	27 540	–3 822	0	29 925	–27 812	2 113
Non-cash effects in EBIT	2 369	23 559	–12		25 916	–23 559	2 357


Balance Sheet per 31.3.2017

Investment properties	198 480	158 702	0		357 182	–158 702	198 480
Other assets	13 921	9 070	53 805	–50 223	26 573	–9 048	17 525
Assets directly associated with disposal group	0	0	0		0	167 750	167 750
Total assets	212 401	167 772	53 805	–50 223	383 755		383 755

Mortgages	108 156	97 162	0		205 318	–97 162	108 156
Other liabilities	40 260	61 563	4 665	–50 223	56 265	–14 807	41 458
Liabilities directly associated with disposal group	0	0	0		0	111 969	111 969
Total liabilities	148 416	158 725	4 665	–50 223	261 583		261 583

1 The segment “Holding” includes Züblin Immobilien Holding AG and its domestic and foreign subsidiaries, which do not hold any assets.

2 Consolidation of Intercompany Management Fees and Property Management Fees in the income statement as well as intercompany loans and current accounts in the balance sheet.

Segment information

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