Consolidated cash flow statement
|
(CHF 1,000) |
|
Notes |
|
2018 |
|
2017 |
|
Profit |
|
|
|
237,841 |
|
285,527 |
|
Finance result |
|
(6) |
|
23,064 |
|
18,324 |
|
Share of profit or loss of associates |
|
|
|
4,329 |
|
3,091 |
|
Gain on disposal of associates |
|
|
|
0 |
|
–36,293 |
|
Income tax expense |
|
(8) |
|
61,293 |
|
69,250 |
|
Depreciation/amortisation of |
|
|
|
|
|
|
|
Property, plant and equipment (after recognition of government subsidies and grants) |
|
(9) |
|
228,406 |
|
233,157 |
|
Investment property |
|
(10) |
|
240 |
|
352 |
|
Intangible assets |
|
(11) |
|
15,806 |
|
10,232 |
|
Gains (–)/losses (+) on disposal of property, plant and equipment (net) |
|
|
|
1,407 |
|
1,551 |
|
Share-based payments |
|
|
|
1,155 |
|
1,212 |
|
Increase (–)/decrease (+) in inventories, trade receivables and other receivables and prepaid expenses |
|
|
|
–1,898 |
|
–745 |
|
Increase (+)/decrease (–) in current liabilities, excluding current financial liabilities |
|
|
|
2,693 |
|
22,333 |
|
Increase (+)/decrease (–) in employee benefit obligations |
|
|
|
4,558 |
|
5,525 |
|
Increase (+)/decrease (–) in provision for formal expropriations plus sound insulation and resident protection |
|
|
|
36,676 |
|
–21,882 |
|
Income tax paid |
|
|
|
–77,211 |
|
–61,890 |
|
Cash flow from operating activities |
|
|
|
538,359 |
|
529,744 |
|
of which related to aircraft noise (Airport of Zurich Noise Fund) |
|
|
|
–9,301 |
|
–10,896 |
|
Income from noise charges |
|
(20) |
|
11,945 |
|
11,557 |
|
Expenses for formal expropriations plus sound insulation and resident protection |
|
(20) |
|
–21,246 |
|
–22,453 |
|
|
|
|
|
|
|
|
|
Investments in property, plant and equipment (projects in progress) |
|
|
|
–228,829 |
|
–162,324 |
|
Investments in investments property (incl. advance payments) |
|
|
|
–102,781 |
|
–71,252 |
|
Investments in airport operator projects |
|
|
|
–51,872 |
|
–41,438 |
|
Investments in associates |
|
|
|
–5,487 |
|
–5,949 |
|
Proceeds from disposal of associates |
|
|
|
0 |
|
43,653 |
|
Acquisition of subsidiaries less cash and cash equivalents acquired |
|
|
|
0 |
|
–2,925 |
|
Investments in intangible assets |
|
|
|
–153 |
|
–563 |
|
Investments in financial assets |
|
|
|
–48,218 |
|
–129,180 |
|
Investments in fixed-term deposits due > 90 days |
|
|
|
–221,000 |
|
–295,000 |
|
Repayment of financial assets |
|
|
|
75,800 |
|
46,200 |
|
Repayment of fixed-term deposits due > 90 days |
|
|
|
306,000 |
|
23,333 |
|
Repayment of fixed-term deposits of Airport Zurich Noise Fund due > 90 days |
|
|
|
0 |
|
50,000 |
|
Proceeds from disposal of property, plant and equipment |
|
|
|
219 |
|
141 |
|
Interest received |
|
|
|
2,970 |
|
2,982 |
|
Cash flow from investing activities |
|
|
|
–273,351 |
|
–542,322 |
|
of which related to aircraft noise (Airport of Zurich Noise Fund) |
|
|
|
27,582 |
|
–31,794 |
|
Investments in financial assets and fixed-term deposits Airport of Zurich Noise Fund |
|
|
|
–48,218 |
|
–127,994 |
|
Repayment of current financial assets and fixed-term deposits Airport of Zurich Noise Fund |
|
|
|
75,800 |
|
96,200 |
|
|
|
|
|
|
|
|
|
Repayment of loan |
|
(18) |
|
0 |
|
–250,000 |
|
Issue of new loan |
|
(18) |
|
40,414 |
|
350,731 |
|
Repayment of other financial liabilities |
|
(18) |
|
–3,922 |
|
–3,433 |
|
Repayment of lease liabilities |
|
(18) |
|
–1,752 |
|
–1,692 |
|
Acquisition of non-controlling interests |
|
|
|
0 |
|
–1,526 |
|
Payment of dividend for the 2017/2016 financial years |
|
|
|
–199,550 |
|
–196,483 |
|
Purchase of treasury shares |
|
|
|
–1,065 |
|
–525 |
|
Interest paid |
|
|
|
–15,345 |
|
–19,366 |
|
Cash flow from financing activities |
|
|
|
–181,220 |
|
–122,294 |
|
|
|
|
|
|
|
|
|
Increase (+)/decrease (–) in cash and cash equivalents |
|
|
|
83,788 |
|
–134,872 |
|
Balance at 1 January |
|
(16) |
|
314,615 |
|
447,778 |
|
Effect of foreign exchange differences on cash and cash equivalents held |
|
|
|
–2,531 |
|
1,709 |
|
Balance as at reporting date |
|
(16) |
|
395,872 |
|
314,615 |
|
of which included in Airport of Zurich Noise Fund |
|
(16) |
|
34,242 |
|
20,184 |
