Corporate Center

Business group reporting

In second quarter 2008, Corporate Center recorded a CHF 330 million pre-tax loss from continuing operations. This compares with a pre-tax profit of CHF 3,947 million in first quarter 2008 and a CHF 1,994 million pre-tax profit in second quarter 2007. Items that have contributed to the large variation in quarterly results are the gains related to the accounting treatment of the issue of mandatory convertible notes in first quarter 2008, and UBS's sale of its 20.7% stake in Julius Baer in second quarter 2007.

Search only in Quarterly Reporting Q2 2008

Spreadsheets

Business group performance

Business group reporting
	As of or for the quarter ended			% change from		Year-to-date
CHF million, except where indicated	30.6.08	31.3.08	30.6.07	1Q08	2Q07	30.6.08	30.6.07
Total operating income	(50)	4,221	2,455			4,172	2,724
Cash components	325	309	333	5	(2)	635	634
Share-based components ¹	2	(6)	78		(97)	(4)	108
Total personnel expenses	328	303	411	8	(20)	631	742
General and administrative expenses	303	291	341	4	(11)	594	647
Services (to) / from other business units	(510)	(484)	(474)	(5)	(8)	(995)	(1,011)
Depreciation of property and equipment	161	164	183	(2)	(12)	324	370
Amortization of intangible assets	0	0	0			0	0
Total operating expenses ²	281	274	461	3	(39)	555	748
Business group performance from continuing operations before tax	(330)	3,947	1,994			3,617	1,976
Business group performance from discontinued operations before tax	59	120	7	(51)	743	179	13
Business group performance before tax	(272)	4,067	2,001			3,796	1,989

Contribution from private equity / Industrial Holdings
Total operating income	4	31	363	(87)	(99)	36	502
Total operating expenses	10	55	90	(82)	(89)	65	99
Operating profit from continuing operations before tax	(6)	(24)	273	75		(29)	403
Profit from discontinued operations before tax	15	120	8	(88)	88	136	6

Additional information
BIS risk-weighted assets (CHF billion) ³	9.6	12.1	8.9	(21)
Personnel (full-time equivalents) ⁴	7,277	7,179	6,277	1	16
Personnel for Operational Corporate Center (full-time equivalents)	1,647	1,606	1,542	3	7
Personnel for ITI (full-time equivalents)	4,189	4,290	4,212	(2)	(1)
Personnel for Group Offshoring (full-time equivalents)	1,442	1,283	523	12	176
1 Additionally includes social security contributions and expenses related to alternative investment awards. 2 Includes expenses for 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 full-time equivalents from private equity: 5 for 2Q08, 5 for 1Q08, 3,913 for 2Q07.