Key financial data

KeY data

(CHF 1,000) 1)

 

First half 2018

 

First half 2017

 

Change in %

Total revenue

 

540,182

 

488,793

 

10.5

of which aviation revenue

 

309,024

 

292,409

 

5.7

of which non-aviation revenue

 

231,158

 

196,384

 

17.7

Operating expenses

 

–300,618

 

–217,196

 

38.4

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

 

239,564

 

271,597

 

–11.8

EBITDA margin (in %)

 

44.3

 

55.6

 

 

Earnings before interest and tax (EBIT)

 

115,786

 

151,205

 

–23.4

EBIT margin (in %)

 

21.4

 

30.9

 

 

Profit

 

84,511

 

143,175

 

–41.0

 

 

 

 

 

 

 

Cash flow from operating activities

 

195,117

 

193,843

 

0.7

Cash flow from investing activities

 

–68,983

 

–241,077

 

–71.4

 

 

 

 

 

 

 

Invested capital as at reporting date

 

3,385,217

 

3,304,751

 

2.4

Return on invested capital (in %) 2)

 

7.2

 

8.4

 

 

Equity as at reporting date

 

2,280,066

 

2,228,611

 

2.3

Return on equity (in %) 2)

 

10.1

 

13.3

 

 

Equity ratio (in %)

 

54.5

 

54.8

 

 

 

 

 

 

 

 

 

Interest-bearing liabilities (net)

 

232,939

 

206,293

 

12.9

Interest-bearing liabilities (net) / EBITDA 2)

 

0.42x

 

0.35x

 

 

 

 

 

 

 

 

 

Key operational data

 

 

 

 

 

 

Number of passengers

 

14,579,679

 

13,706,322

 

6.4

Number of flight movements

 

134,608

 

131,401

 

2.4

Freight (in tonnes)

 

244,330

 

231,916

 

5.4

Number of full-time positions as at reporting date

 

1,719

 

1,565

 

9.8

Number of employees as at reporting date

 

1,980

 

1,819

 

8.9

 

 

 

 

 

 

 

Key data for shareholders of Flughafen Zurich AG

 

 

 

 

 

 

Number of issued shares

 

30,701,875

 

30,701,875

 

 

Equity per share (CHF)

 

74.26

 

72.59

 

2.3

Basic earnings per share (CHF)

 

2.75

 

4.66

 

–41.0

Diluted earnings per share (CHF)

 

2.75

 

4.66

 

–41.0

 

 

 

 

 

 

 

Flughafen Zürich AG (registered share)

 

Security number

 

SIX Symbol

 

Reuters

 

 

31941693

 

FHZN

 

FHZN.S

Share price as at 30.06. (CHF)

 

202.40

 

235.00

 

–13.9

1) All cited key financial data are unaudited.

2) Based on the result of the 12-month period preceding the reporting date.

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. These noise charges have a specified purpose, 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 the liquidity of Flughafen Zürich AG.

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

 

 

First half 2018

 

First half 2017

(CHF 1,000)

 

Including aircraft noise

 

Elimination of aircraft noise

 

Excluding aircraft noise

 

Including aircraft noise

 

Elimination of aircraft noise

 

Excluding aircraft noise

Revenue

 

540,182

 

–5,619

 

534,563

 

488,793

 

–5,466

 

483,327

Operating expenses

 

–300,618

 

59,113

 

–241,505

 

–217,196

 

1,561

 

–215,635

EBITDA

 

239,564

 

53,494

 

293,058

 

271,597

 

–3,905

 

267,692

Depreciation and amortisation

 

–123,778

 

2,657

 

–121,121

 

–120,392

 

2,657

 

–117,735

EBIT

 

115,786

 

56,151

 

171,937

 

151,205

 

–1,248

 

149,957

 

 

 

 

 

 

 

 

 

 

 

 

 

Profit

 

84,511

 

45,325

 

129,836

 

143,175

 

–2,286

 

140,889

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

(CHF 1,000) 1)

 

First half 2018

 

First half 2017

 

Change in %

Total revenue

 

534,563

 

483,327

 

10.6

of which aviation revenue

 

303,405

 

286,943

 

5.7

of which non-aviation revenue

 

231,158

 

196,384

 

17.7

Operating expenses

 

–241,505

 

–215,635

 

12.0

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

 

293,058

 

267,692

 

9.5

EBITDA margin (in %)

 

54.8

 

55.4

 

 

Earnings before interest and tax (EBIT)

 

171,937

 

149,957

 

14.7

EBIT margin (in %)

 

32.2

 

31.0

 

 

Profit

 

129,836

 

140,889

 

–7.8

 

 

 

 

 

 

 

Cash flow from operating activities

 

195,535

 

195,605

 

–0.0

Cash flow from investing activities

 

–79,783

 

–301,064

 

–73.5

 

 

 

 

 

 

 

Invested capital as at reporting date

 

3,312,514

 

3,154,482

 

5.0

Return on invested capital (in %) 2)

 

8.8

 

8.8

 

 

Equity as at reporting date

 

2,191,567

 

2,094,786

 

4.6

Return on equity (in %) 2)

 

12.7

 

13.7

 

 

Equity ratio (in %)

 

60.3

 

60.4

 

 

 

 

 

 

 

 

 

Interest-bearing liabilities (net)

 

670,366

 

661,731

 

1.3

Interest-bearing liabilities (net) / EBITDA 2)

 

1.12x

 

1.15x

 

 

 

 

 

 

 

 

 

Key data for shareholders of Flughafen Zurich AG

 

 

 

 

 

 

Number of issued shares

 

30,701,875

 

30,701,875

 

 

Equity per share (CHF)

 

71.38

 

68.23

 

4.6

Basic earnings per share (CHF)

 

4.23

 

4.58

 

–7.6

Diluted earnings per share (CHF)

 

4.23

 

4.58

 

–7.6

1) All cited key financial data are unaudited.

2) Based on the result of the 12-month period preceding the reporting date.