Domiciled in Zug, Switzerland, Zug Estates Holding AG is a Swiss joint stock company. Its shares are listed on SIX Swiss Exchange.
The present, unaudited consolidated financial statements were prepared in accordance with Accounting and Reporting Regulation Swiss GAAP ARR 31 and the special provisions for real estate companies of Art. 17 of the SIX Swiss Exchange Directive on Financial Reporting and present a true and fair view of the financial position, the results of operations and the cash flows.
The principles of consolidation and valuation applied in the present consolidated financial statements are unchanged compared with those published in the 2014 consolidated financial statements, in which Swiss GAAP ARR 31 was applied for the first time.
Swiss GAAP FER 31 regulations with regard to interim financial reporting were applied for the first time to these half-year financial statements dated 30 June 2015. The first-time application of Swiss GAAP ARR 31 results in additional disclosures under the Statement of changes in equity and note 3, but does not impact the results of operations or the cash flows.
Scope of consolidation
The scope of consolidation is unchanged compared to the annual financial statements as of 31 December 2014.
Real estate valuation method and technique
The properties held for investment purposes were valued on the basis of the fair value assessments (update valuations) performed by a recognized independent real estate expert (Wüest & Partner AG) as at 30 June 2015 using the DCF (discounted cash flows) method. The valuation method and technique applied for the half-year financial statements for 2015 are unchanged from the previous year.