Key financial data

Key data

(CHF 1,000)

 

2017

 

2016

 

Change in %

Total revenue

 

1,037,125

 

1,012,804

 

2.4

of which aviation revenue

 

624,241

 

620,402

 

0.6

of which non-aviation revenue

 

412,884

 

392,402

 

5.2

Operating expenses

 

–453,485

 

–434,000

 

4.5

Earnings before interest, tax, depreciation and amortisation (EBITDA)

 

583,640

 

578,804

 

0.8

EBITDA margin (in %)

 

56.3

 

57.1

 

 

Earnings before interest and tax (EBIT)

 

339,899

 

337,350

 

0.8

EBIT margin (in %)

 

32.8

 

33.3

 

 

Profit

 

285,527

 

248,018

 

15.1

 

 

 

 

 

 

 

Cash flow from operating activities

 

529,744

 

471,869

 

12.3

Cash flow from investing activities

 

–542,322

 

–167,482

 

223.8

 

 

 

 

 

 

 

Invested capital as at reporting date 1)

 

3,470,749

 

3,215,677

 

7.9

Average invested capital 1)

 

3,343,213

 

3,201,052

 

4.4

Return on average invested capital (ROIC, in %)

 

8.1

 

8.4

 

 

Equity as at reporting date

 

2,401,135

 

2,260,149

 

6.2

Return on equity (in %)

 

12.3

 

11.1

 

 

Equity ratio (in %)

 

55.9

 

55.6

 

 

 

 

 

 

 

 

 

Interest-bearing liabilities (net) 2)

 

57,894

 

102,020

 

–43.3

Interest-bearing liabilities (net) / EBITDA 2)

 

0.10x

 

0.18x

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Key data for shareholders of Flughafen Zürich AG

 

 

 

 

 

 

Number of issued shares

 

30,701,875

 

30,701,875

 

 

Ordinary dividend per share (CHF)

 

3.30

 

3.20

 

3.1

Payout ratio (in %) 3)

 

35.5

 

39.6

 

 

Additional dividend per share (CHF)

 

3.20

 

3.20

 

0.0

Equity per share (CHF)

 

78.21

 

73.62

 

6.2

Basic earnings per share (CHF)

 

9.29

 

8.07

 

15.1

Diluted earnings per share (CHF)

 

9.29

 

8.07

 

15.1

 

 

 

 

 

 

 

Flughafen Zürich AG (registered share)

 

Security number

 

SIX Symbol

 

Reuters

 

 

31941693

 

FHZN

 

FHZN.S

Closing price as at 31.12. (CHF)

 

222.90

 

188.90

 

18.0

1) Invested capital includes equity and interest-bearing debt.

2) Interest-bearing liabilities (net) include interest-bearing debt less cash and cash equivalents, current and non-current financial assets and fixed-term deposits.

3) Additional dividend from capital contribution reserves not included.

 

 

2017

 

2016

 

Change in %

Key operational data

 

 

 

 

 

 

Number of passengers

 

29,396,094

 

27,666,428

 

6.3

Number of flight movements

 

270,453

 

269,160

 

0.5

Freight (in tonnes)

 

490,452

 

433,577

 

13.1

Number of full-time positions as at reporting date

 

1,713

 

1,523

 

12.5

Number of employees as at reporting date

 

1,967

 

1,773

 

10.9

Key data excluding the influence of aircraft noise

Flughafen Zürich AG refinances all costs relating to aircraft noise through noise charges based on the “costs-by-cause” principle. There is a specified purpose for these noise charges, and any surplus, after all noise-related expenses have been paid, must be repaid and does not belong to the owners of Flughafen Zürich AG.

As the consolidated financial statements of Flughafen Zürich AG include noise charges, noise-related expenses and noise-related items in the balance sheet, key figures are also stated for the shareholders excluding the influence of aircraft noise. In the long term, noise-related items will not impact the income statement or cash flow statement of Flughafen Zürich AG.

The figures for the income statement and results including and excluding noise-related factors are as follows:

 

 

2017

 

2016

(CHF 1,000)

 

Including aircraft noise

 

Elimination of aircraft noise

 

Excluding aircraft noise

 

Including aircraft noise

 

Elimination of aircraft noise

 

Excluding aircraft noise

Aviation revenue

 

624,241

 

–11,561

 

612,680

 

620,402

 

–11,680

 

608,722

Non-aviation revenue

 

412,884

 

0

 

412,884

 

392,402

 

0

 

392,402

Total revenue

 

1,037,125

 

–11,561

 

1,025,564

 

1,012,804

 

–11,680

 

1,001,124

Operating expenses

 

–453,485

 

3,495

 

–449,990

 

–434,000

 

3,539

 

–430,461

EBITDA

 

583,640

 

–8,066

 

575,574

 

578,804

 

–8,141

 

570,663

Depreciation and amortisation

 

–243,741

 

5,314

 

–238,427

 

–241,454

 

5,589

 

–235,865

EBIT

 

339,899

 

–2,752

 

337,147

 

337,350

 

–2,552

 

334,798

 

 

 

 

 

 

 

 

 

 

 

 

 

Profit

 

285,527

 

–1,285

 

284,242

 

248,018

 

–2,641

 

245,377

As a result the adjusted key figures excluding the influence of aircraft noise are as follows:

(CHF 1,000)

 

2017

 

2016

 

Change in %

Total revenue

 

1,025,564

 

1,001,124

 

2.4

of which aviation revenue

 

612,680

 

608,722

 

0.7

of which non-aviation revenue

 

412,884

 

392,402

 

5.2

Operating expenses

 

–449,990

 

–430,461

 

4.5

Earnings before interest, tax, depreciation and amortisation (EBITDA)

 

575,574

 

570,663

 

0.9

EBITDA margin (in %)

 

56.1

 

57.0

 

 

Earnings before interest and tax (EBIT)

 

337,147

 

334,798

 

0.7

EBIT margin (in %)

 

32.9

 

33.4

 

 

Profit

 

284,242

 

245,377

 

15.8

 

 

 

 

 

 

 

Cash flow from operating activities

 

540,640

 

484,259

 

11.6

Cash flow from investing activities

 

–510,528

 

–189,336

 

169.6

 

 

 

 

 

 

 

Invested capital as at reporting date 1)

 

3,313,250

 

3,065,907

 

8.1

Average invested capital 1)

 

3,189,578

 

3,048,373

 

4.6

Return on average invested capital (ROIC in %)

 

8.4

 

8.7

 

 

Equity as at reporting date

 

2,261,179

 

2,121,478

 

6.6

Return on equity (in %)

 

13.0

 

11.7

 

 

Equity ratio (in %)

 

61.1

 

61.5

 

 

 

 

 

 

 

 

 

Interest-bearing liabilities (net) 2)

 

515,181

 

566,355

 

–9.0

Interest-bearing liabilities (net) / EBITDA 2)

 

0.90x

 

0.99x

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Key data for shareholders of Flughafen Zürich AG

 

 

 

 

 

 

Payout ratio (in %) 3)

 

35.6

 

40.0

 

 

Equity per share (CHF)

 

73.65

 

69.10

 

6.6

Basic earnings per share (CHF)

 

9.25

 

7.98

 

15.9

Diluted earnings per share (CHF)

 

9.25

 

7.98

 

15.9

1) Invested capital includes equity and interest-bearing debt.

2) Interest-bearing liabilities (net) include interest-bearing debt less cash and cash equivalents, current and non-current financial assets and fixed-term deposits.

3) Additional dividend from capital contribution reserves not included.