Consolidated cash flow statement
|
(CHF 1,000) |
|
Notes |
|
2019 |
|
2018 |
|
Profit |
|
|
|
309,145 |
|
237,841 |
|
Finance result |
|
(6) |
|
14,010 |
|
23,064 |
|
Share of profit or loss of associates |
|
|
|
2,548 |
|
4,329 |
|
Income tax expense |
|
(7) |
|
77,413 |
|
61,293 |
|
Depreciation / amortisation of |
|
|
|
|
|
|
|
Property, plant and equipment (after recognition of government subsidies and grants) |
|
(8) |
|
214,702 |
|
228,406 |
|
Right-of-use assets |
|
(9) |
|
6,262 |
|
0 |
|
Investment property |
|
(10) |
|
120 |
|
240 |
|
Intangible assets |
|
(11) |
|
17,635 |
|
15,806 |
|
Gains (–) / losses (+) on disposal of property, plant and equipment (net) |
|
|
|
928 |
|
1,407 |
|
Share-based payments |
|
|
|
1,021 |
|
1,155 |
|
Increase (–) / decrease (+) in inventories, trade receivables and other receivables and prepaid expenses |
|
|
|
–27,552 |
|
–1,898 |
|
Increase (+) / decrease (–) in current liabilities, excluding current financial liabilities |
|
|
|
–3,847 |
|
2,693 |
|
Increase (+) / decrease (–) in employee benefit obligations |
|
|
|
3,107 |
|
4,558 |
|
Increase (+) / decrease (–) in provision for formal expropriations plus sound insulation and resident protection |
|
|
|
–21,269 |
|
36,676 |
|
Income tax paid |
|
|
|
–82,486 |
|
–77,211 |
|
Cash flow from operating activities |
|
|
|
511,737 |
|
538,359 |
|
of which related to aircraft noise (Airport of Zurich Noise Fund) |
|
|
|
–8,895 |
|
–9,301 |
|
Income from noise charges |
|
(20) |
|
12,733 |
|
11,945 |
|
Expenses for formal expropriations plus sound insulation and resident protection |
|
(20) |
|
–21,628 |
|
–21,246 |
|
|
|
|
|
|
|
|
|
Investments in property, plant and equipment and projects in progress |
|
|
|
–432,890 |
|
–228,829 |
|
Investments in investments property (incl. advance payments) |
|
|
|
–104,987 |
|
–102,781 |
|
Investments in airport operator projects |
|
|
|
–235,279 |
|
–51,872 |
|
Investments in associates |
|
|
|
0 |
|
–5,487 |
|
Investments in intangible assets |
|
|
|
–859 |
|
–153 |
|
Investments in financial assets |
|
|
|
–28,239 |
|
–48,218 |
|
Investments in fixed-term deposits due > 90 days |
|
|
|
–6,500 |
|
–221,000 |
|
Repayment of financial assets |
|
|
|
23,360 |
|
75,800 |
|
Repayment of fixed-term deposits due > 90 days |
|
|
|
149,167 |
|
306,000 |
|
Proceeds from disposal of property, plant and equipment |
|
|
|
126 |
|
219 |
|
Interest received |
|
|
|
7,790 |
|
2,970 |
|
Cash flow from investing activities |
|
|
|
–628,311 |
|
–273,351 |
|
of which related to aircraft noise (Airport of Zurich Noise Fund) |
|
|
|
–3,436 |
|
27,582 |
|
Investments in financial assets and fixed-term deposits Airport of Zurich Noise Fund |
|
|
|
–26,796 |
|
–48,218 |
|
Repayment of current financial assets and fixed-term deposits Airport of Zurich Noise Fund |
|
|
|
23,360 |
|
75,800 |
|
|
|
|
|
|
|
|
|
Repayment of loan |
|
(18) |
|
–38,204 |
|
0 |
|
Issue of new loan |
|
(18) |
|
0 |
|
40,414 |
|
Issue of other financial liabilities |
|
(18) |
|
151,640 |
|
0 |
|
Repayment of other financial liabilities |
|
(18) |
|
–3,297 |
|
–3,922 |
|
Repayment of lease liabilities |
|
(18) |
|
–5,797 |
|
–1,752 |
|
Payment of dividend for the 2018/2017 financial years |
|
|
|
–211,835 |
|
–199,550 |
|
Purchase of treasury shares |
|
|
|
–1,467 |
|
–1,065 |
|
Interest paid |
|
|
|
–24,902 |
|
–15,345 |
|
Cash flow from financing activities |
|
|
|
–133,862 |
|
–181,220 |
|
|
|
|
|
|
|
|
|
Increase (+) / decrease (–) in cash and cash equivalents |
|
|
|
–250,436 |
|
83,788 |
|
Balance at 1 January |
|
(16) |
|
395,872 |
|
314,615 |
|
Effect of foreign exchange differences on cash and cash equivalents held |
|
|
|
–13,008 |
|
–2,531 |
|
Balance as at reporting date |
|
(16) |
|
132,428 |
|
395,872 |
|
of which included in Airport of Zurich Noise Fund |
|
(16) |
|
18,092 |
|
34,242 |
