Key financial data
Key data
|
(CHF 1,000) |
|
2018 |
|
2017 |
|
Change in % |
|
Total revenue |
|
1,152,897 |
|
1,037,125 |
|
11.2 |
|
of which aviation revenue |
|
656,667 |
|
624,241 |
|
5.2 |
|
of which non-aviation revenue |
|
496,230 |
|
412,884 |
|
20.2 |
|
Operating expenses |
|
–581,918 |
|
–453,485 |
|
28.3 |
|
Earnings before interest, tax, depreciation and amortisation (EBITDA) |
|
570,979 |
|
583,640 |
|
–2.2 |
|
EBITDA margin (in %) |
|
49.5 |
|
56.3 |
|
|
|
Earnings before interest and tax (EBIT) |
|
326,527 |
|
339,899 |
|
–3.9 |
|
EBIT margin (in %) |
|
28.3 |
|
32.8 |
|
|
|
Profit |
|
237,841 |
|
285,527 |
|
–16.7 |
|
|
|
|
|
|
|
|
|
Cash flow from operating activities |
|
538,359 |
|
529,744 |
|
1.6 |
|
Cash flow from investing activities |
|
–273,351 |
|
–542,322 |
|
–49.6 |
|
|
|
|
|
|
|
|
|
Invested capital as at reporting date 1) |
|
3,516,827 |
|
3,470,749 |
|
1.3 |
|
Average invested capital 1) |
|
3,493,788 |
|
3,343,213 |
|
4.5 |
|
Return on average invested capital (ROIC, in %) |
|
7.4 |
|
8.1 |
|
|
|
Equity as at reporting date |
|
2,414,853 |
|
2,401,135 |
|
0.6 |
|
Return on equity (in %) |
|
9.9 |
|
12.3 |
|
|
|
Equity ratio (in %) |
|
55.3 |
|
55.9 |
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing liabilities (net) 2) |
|
146,380 |
|
57,894 |
|
152.8 |
|
Interest-bearing liabilities (net)/EBITDA 2) |
|
0.26x |
|
0.10x |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Key data for shareholders of Flughafen Zurich AG |
|
|
|
|
|
|
|
Number of issued shares |
|
30,701,875 |
|
30,701,875 |
|
|
|
Ordinary dividend per share (CHF) |
|
3.70 |
|
3.30 |
|
12.1 |
|
Payout ratio (in %) 3) |
|
47.8 |
|
35.5 |
|
|
|
Additional dividend per share (CHF) |
|
3.20 |
|
3.20 |
|
0.0 |
|
Equity per share (CHF) |
|
78.65 |
|
78.21 |
|
0.6 |
|
Basic earnings per share (CHF) |
|
7.75 |
|
9.29 |
|
–16.6 |
|
Diluted earnings per share (CHF) |
|
7.75 |
|
9.29 |
|
–16.6 |
|
|
|
|
|
|
|
|
|
Flughafen Zürich AG (registered share) |
|
Security number |
|
SIX Symbol |
|
Reuters |
|
|
|
31941693 |
|
FHZN |
|
FHZN.S |
|
Share price as at 30.06. (CHF) |
|
162.50 |
|
222.90 |
|
–27.1 |
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.
|
|
|
2018 |
|
2017 |
|
Change in % |
|
Key operational data |
|
|
|
|
|
|
|
Number of passengers |
|
31,113,488 |
|
29,396,094 |
|
5.8 |
|
Number of flight movements |
|
278,458 |
|
270,453 |
|
3.0 |
|
Freight (in tonnes) |
|
493,222 |
|
490,452 |
|
0.6 |
|
Number of full-time positions as at reporting date |
|
1,757 |
|
1,713 |
|
2.6 |
|
Number of employees as at reporting date |
|
2,033 |
|
1,967 |
|
3.4 |
KEY DATA EXCLUDING THE INFLUENCE OF 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 of the income statement including and excluding the influence of aircraft noise are as follows:
|
|
|
2018 |
|
2017 |
||||||||
|
(CHF 1,000) |
|
Including influence of noise |
|
Elimination influence of noise |
|
Excluding influence of noise |
|
Including influence of noise |
|
Elimination influence of noise |
|
Excluding influence of noise |
|
Revenue |
|
1,152,897 |
|
–11,629 |
|
1,141,268 |
|
1,037,125 |
|
–11,561 |
|
1,025,564 |
|
Operating expenses |
|
–581,918 |
|
60,921 |
|
–520,997 |
|
–453,485 |
|
3,495 |
|
–449,990 |
|
EBITDA |
|
570,979 |
|
49,292 |
|
620,271 |
|
583,640 |
|
–8,066 |
|
575,574 |
|
Depreciation and amortisation |
|
–244,452 |
|
4,790 |
|
–239,662 |
|
–243,741 |
|
5,314 |
|
–238,427 |
|
EBIT |
|
326,527 |
|
54,082 |
|
380,609 |
|
339,899 |
|
–2,752 |
|
337,147 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit |
|
237,841 |
|
48,441 |
|
286,282 |
|
285,527 |
|
–1,285 |
|
284,242 |
As a result the adjusted key figures excluding the influence of aircraft noise are as follows:
|
(CHF 1,000) |
|
2018 |
|
2017 |
|
Change in % |
|
Total revenue |
|
1,141,268 |
|
1,025,564 |
|
11.3 |
|
of which aviation revenue |
|
645,038 |
|
612,680 |
|
5.3 |
|
of which non-aviation revenue |
|
496,230 |
|
412,884 |
|
20.2 |
|
Operating expenses |
|
–520,997 |
|
–449,990 |
|
15.8 |
|
Earnings before interest, tax, depreciation and amortisation (EBITDA) |
|
620,271 |
|
575,574 |
|
7.8 |
|
EBITDA margin (in %) |
|
54.3 |
|
56.1 |
|
|
|
Earnings before interest and tax (EBIT) |
|
380,609 |
|
337,147 |
|
12.9 |
|
EBIT margin (in %) |
|
33.3 |
|
32.9 |
|
|
|
Profit |
|
286,282 |
|
284,242 |
|
0.7 |
|
|
|
|
|
|
|
|
|
Cash flow from operating activities |
|
547,660 |
|
540,640 |
|
1.3 |
|
Cash flow from investing activities |
|
–300,933 |
|
–510,528 |
|
–41.1 |
|
|
|
|
|
|
|
|
|
Invested capital as at reporting date 1) |
|
3,406,994 |
|
3,313,250 |
|
2.8 |
|
Average invested capital 1) |
|
3,360,122 |
|
3,189,578 |
|
5.3 |
|
Return on average invested capital (ROIC in %) |
|
9.0 |
|
8.4 |
|
|
|
Equity as at reporting date |
|
2,323,333 |
|
2,261,179 |
|
2.7 |
|
Return on equity (in %) |
|
12.5 |
|
13.0 |
|
|
|
Equity ratio (in %) |
|
60.9 |
|
61.1 |
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing liabilities (net) 2) |
|
579,830 |
|
515,181 |
|
12.5 |
|
Interest-bearing liabilities (net)/EBITDA 2) |
|
0.93x |
|
0.90x |
|
|
|
|
|
|
|
|
|
|
|
Key data for shareholders of Flughafen Zurich AG |
|
|
|
|
|
|
|
Payout ratio (in %) 3) |
|
39.7 |
|
35.6 |
|
|
|
Equity per share (CHF) |
|
75.67 |
|
73.65 |
|
2.7 |
|
Basic earnings per share (CHF) |
|
9.32 |
|
9.25 |
|
0.8 |
|
Diluted earnings per share (CHF) |
|
9.33 |
|
9.25 |
|
0.9 |
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.
