Corporate governance

Corporate governance forms an important element of Flughafen Zürich AG’s corporate policy. It is based on transparency and clearly regulated responsibilities. The company meets the guidelines of SIX Swiss Exchange and those of the Swiss Code of Obligations, and observes the Swiss Code of Best Practice for Corporate Governance recommendations issued by economiesuisse.

Group and capital structures

Group structure

For details concerning the group operational structure, please see the section on segment reporting. Apart from Flughafen Zürich AG, Kloten (securities no. 31941693, ISIN CH0319416936), which was listed on SIX Swiss Exchange with a market capitalisation of CHF 5.0 billion as at the balance sheet date, the consolidated group does not comprise any other listed companies. However, it does include the following unlisted companies:

Company

 

Domicile

 

Share capital

 

Stake held in %

Flughafen Zürich AG

 

Kloten

 

CHF 307,018,750

 

Parent company

Zurich Airport International AG

 

Kloten

 

CHF 100,000

 

100.0

Zurich Airport International Asia Sdn. Bhd.

 

Kuala Lumpur

 

MYR 1.0 million

 

100.0

Zurich Airport Latin America Ltda.

 

Rio de Janeiro

 

BRL 1.8 million

 

100.0

Concessionária do Aeroporto Internacional de Florianópolis S.A.

 

Florianópolis

 

BRL 304 million

 

100.0

A-port S.A.

 

Santiago de Chile

 

CLP 16,139 million

 

100.0

A-port Chile S.A.

 

Santiago de Chile

 

CLP 10,613 million

 

100.0

Sociedad Concesionaria Antofagasta S.A.

 

Santiago de Chile

 

CLP 3,600 million

 

100.0

Sociedad Concesionaria Iquique S.A.

 

Santiago de Chile

 

CLP 600 million

 

100.0

Sociedad Concesionaria Aeropuerto Diego Aracena S.A.

 

Santiago de Chile

 

CLP 10,700 million

 

100.0

A-port Operaciones S.A.

 

Santiago de Chile

 

CLP 1,352 million

 

99.0

A-port Operaciones Colombia S.A.

 

Bogotá

 

COP 100 million

 

99.0

Unique IDC S.A. de C.V.

 

Tegucigalpa

 

HNL 200 million

 

99.0

Capital structure

The group’s ordinary share capital amounts to CHF 307,018,750, which is divided into 30,701,875 fully paid-up registered shares with a nominal value of CHF 10.00 each. All shares have the same dividend entitlements and voting rights (as long as they have been entered in the Share Register accordingly). No approved or conditional capital, no participation or dividend right certificates and no outstanding convertible bonds or options existed as at the balance sheet date.

For information concerning the distribution of shares to employees (no options are distributed), please refer to the Financial report, Consolidated financial statements according to IFRS, Notes to the consolidated financial statements, note 3, Personnel expenses.

The changes in share capital, reserves and available earnings (financial statements according to the provisions of the Swiss Code of Obligations) during the past three years are shown below:

 

 

31.12.2018

 

31.12.2017

 

31.12.2016

Share capital

 

307,019

 

307,019

 

307,019

Legal capital reserves

 

 

 

 

 

 

Capital contribution reserves

 

215,256

 

313,499

 

411,744

Legal retained earnings

 

 

 

 

 

 

General legal retained earnings

 

42,370

 

42,370

 

42,370

Voluntary retained earnings

 

109,810

 

109,838

 

109,470

Available earnings

 

 

 

 

 

 

Profit brought forward

 

1,316,090

 

1,107,409

 

933,342

Profit for the year

 

298,729

 

309,995

 

272,312

Treasury shares

 

–341

 

–458

 

–855

Total equity

 

2,288,933

 

2,189,672

 

2,075,402