Consolidated cash flow statement
|
(CHF 1,000) |
|
Notes |
|
2017 |
|
2016 |
|
Profit |
|
|
|
285,527 |
|
248,018 |
|
Finance result |
|
(6) |
|
18,324 |
|
17,429 |
|
Share of profit or loss of associates |
|
|
|
3,091 |
|
5,326 |
|
Gain on disposal of assets held for sale |
|
|
|
–36,293 |
|
0 |
|
Income tax expense |
|
(7) |
|
69,250 |
|
66,577 |
|
Depreciation/amortisation of |
|
|
|
|
|
|
|
Property, plant and equipment |
|
(8) |
|
234,195 |
|
233,976 |
|
Investment property |
|
(9) |
|
352 |
|
0 |
|
Intangible asset from right of formal expropriation |
|
(10) |
|
3,941 |
|
4,248 |
|
Airport operator projects |
|
(10) |
|
1,901 |
|
0 |
|
Other intangible assets |
|
(10) |
|
4,390 |
|
4,246 |
|
Recognition of government subsidies and grants on buildings and engineering structures in the income statement |
|
|
|
|
|
|
|
Property, plant and equipment |
|
(8) |
|
–1,038 |
|
–1,016 |
|
Gains(–)/losses(+) on disposal of property, plant and equipment (net) |
|
|
|
1,551 |
|
–4,754 |
|
Share-based payments |
|
|
|
1,212 |
|
1,250 |
|
Increase(–)/decrease(+) in inventories, trade receivables and other receivables and prepaid expenses |
|
|
|
–745 |
|
–9,458 |
|
Increase(+)/decrease(–) in current liabilities, excluding current financial liabilities |
|
|
|
22,333 |
|
–2,306 |
|
Increase(+)/decrease(–) in employee benefit obligations |
|
|
|
5,525 |
|
6,152 |
|
Increase(+)/decrease(–) in provision for formal expropriations plus sound insulation and resident protection |
|
(19) |
|
–21,882 |
|
–23,309 |
|
Income tax paid |
|
|
|
–61,890 |
|
–74,510 |
|
Cash flow from operating activities |
|
|
|
529,744 |
|
471,869 |
|
of which related to aircraft noise (Airport of Zurich Noise Fund) |
|
|
|
–10,896 |
|
–12,390 |
|
Income from noise charges |
|
(20) |
|
11,557 |
|
11,601 |
|
Expenses for formal expropriations plus sound insulation and resident protection |
|
|
|
–22,453 |
|
–23,991 |
|
|
|
|
|
|
|
|
|
Investments in property, plant and equipment (projects in progress) |
|
|
|
–162,324 |
|
–135,275 |
|
Investments in investment property (incl. advance payments) |
|
|
|
–71,252 |
|
–51,911 |
|
Investments in airport operator projects |
|
|
|
–41,438 |
|
0 |
|
Proceeds from disposal of property, plant and equipment |
|
|
|
141 |
|
7,531 |
|
Acquisition of subsidiaries less cash and cash equivalents acquired |
|
|
|
–2,925 |
|
0 |
|
Investments in associates |
|
|
|
–5,949 |
|
–12,835 |
|
Proceeds from disposal of assets held for sale |
|
|
|
43,653 |
|
0 |
|
Investments in intangible assets |
|
|
|
–563 |
|
0 |
|
Investments in financial assets |
|
|
|
–1,186 |
|
0 |
|
Investments in financial assets of Airport of Zurich Noise Fund |
|
|
|
–127,994 |
|
–97,346 |
|
Investments in fixed-term deposits due > 90 days |
|
|
|
–295,000 |
|
0 |
|
Repayment of current financial assets of Airport of Zurich Noise Fund |
|
|
|
46,200 |
|
69,200 |
|
Repayment of fixed-term deposits due > 90 days |
|
|
|
23,333 |
|
0 |
|
Repayment of fixed-term deposits of Airport Zurich Noise Fund due > 90 days |
|
(15) |
|
50,000 |
|
50,000 |
|
Interest received |
|
|
|
2,982 |
|
3,154 |
|
Cash flow from investing activities |
|
|
|
–542,322 |
|
–167,482 |
|
of which related to aircraft noise (Airport of Zurich Noise Fund) |
|
|
|
–31,794 |
|
21,854 |
|
Investments in financial assets and fixed-term deposits of Airport of Zurich Noise Fund |
|
|
|
–127,994 |
|
–97,346 |
|
Repayment of current financial assets of Airport of Zurich Noise Fund |
|
|
|
96,200 |
|
119,200 |
|
|
|
|
|
|
|
|
|
Repayment of loan |
|
(18) |
|
–250,000 |
|
0 |
|
Issue of new loan |
|
(18) |
|
350,731 |
|
0 |
|
Repayment of other financial liabilities |
|
(18) |
|
–3,433 |
|
0 |
|
Repayment of lease liabilities |
|
(18) |
|
–1,692 |
|
–19,196 |
|
Acquisition of non-controlling interests |
|
|
|
–1,526 |
|
0 |
|
Payment of dividend for the 2016/2015 financial years |
|
(17) |
|
–196,483 |
|
–190,473 |
|
Purchase of treasury shares |
|
|
|
–525 |
|
–910 |
|
Interest paid |
|
|
|
–19,366 |
|
–18,204 |
|
Cash flow from financing activities |
|
|
|
–122,294 |
|
–228,783 |
|
|
|
|
|
|
|
|
|
Increase(+)/decrease(–) in cash and cash equivalents |
|
|
|
–134,872 |
|
75,604 |
|
Balance at beginning of financial year |
|
(15) |
|
447,778 |
|
371,970 |
|
Effect of foreign exchange differences on cash and cash equivalents held |
|
|
|
1,709 |
|
204 |
|
Balance at end of financial year |
|
(15) |
|
314,615 |
|
447,778 |
|
of which included in Airport of Zurich Noise Fund |
|
(15) |
|
20,184 |
|
58,605 |
