Corporate Center

Business group reporting

With effect from first quarter 2007, Industrial Holdings is now reported in Corporate Center. The pre-tax gain for first quarter 2008 stood at CHF 3,947 million from continuing operations - primarily due to a one-time accounting gain of CHF 3,860 million related to the issue of mandatory convertible notes on 5 March 2008. Profit from discontinued operations was CHF 120 million, related to the sale of the last fully consolidated operating company in the private equity portfolio.

Search only in Quarterly Reporting Q1 2008

Spreadsheets

Business group reporting

Business group reporting
	As of or for the quarter ended			% change from
CHF million, except where indicated	31.3.08	31.12.07	31.3.07	4Q07	1Q07
Income	4,221	301	269
Credit loss (expense) / recovery	0	0	0
Total operating income	4,221	301	269
Cash components	309	272	301	14	3
Share-based components ¹	(6)	0	30
Total personnel expenses	303	272	331	11	(8)
General and administrative expenses	291	346	306	(16)	(5)
Services (to) / from other business units	(484)	(538)	(537)	10	10
Depreciation of property and equipment	164	184	187	(11)	(12)
Amortization of intangible assets	0	0	0
Total operating expenses ²	274	264	287	4	(5)
Business group performance from continuing operations before tax	3,947	37	(18)
Business group performance from discontinued operations before tax	120	34	6	253
Business group performance before tax	4,067	71	(12)

Contribution from Private Equity / Industrial Holdings
Total operating income	31	3	139	933	(78)
Total operating expenses	55	10	9	450	511
Operating profit from continuing operations before tax	(24)	(7)	130	(243)
Profit from discontinued operations before tax	120	34	(2)	253

Additional information
BIS risk-weighted assets ³	12.1	8.1	9.1
Personnel (full-time equivalents) ⁴	7,179	6,913	6,016	4	19
Personnel excluding IT Infrastructure (ITI) (full-time equivalents) ⁴	2,889	2,570	1,921	12	50
Personnel for ITI (full-time equivalents)	4,290	4,343	4,095	(1)	5
1 Additionally includes social security contributions and expenses related to alternative investment awards. 2 Includes expenses for the Chairman's Office (comprising the Company Secretary, Board of Directors and Group Internal Audit). 3 BIS risk-weighted assets (RWA) are according to Basel II; for quarters prior to 1Q08, RWA are according to the Basel I framework. 4 Personnel numbers exclude five full-time equivalents (FTEs), 3,843 FTEs and 3,891 FTEs from Industrial Holdings for first quarter 2008, fourth quarter 2007 and first quarter 2007, respectively.

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