Key financial data

Key data

(CHF 1,000)

 

2019

 

2018

 

Change in %

Total revenue

 

1,210,084

 

1,152,897

 

5.0

of which aviation revenue

 

661,451

 

656,667

 

0.7

of which non-aviation revenue

 

548,633

 

496,230

 

10.6

Operating expenses

 

–568,249

 

–581,918

 

–2.3

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

 

641,835

 

570,979

 

12.4

EBITDA margin (in %)

 

53.0

 

49.5

 

 

Earnings before interest and tax (EBIT)

 

403,116

 

326,527

 

23.5

EBIT margin (in %)

 

33.3

 

28.3

 

 

Profit

 

309,145

 

237,841

 

30.0

 

 

 

 

 

 

 

Cash flow from operating activities

 

511,737

 

538,359

 

–4.9

Cash flow from investing activities

 

–628,311

 

–273,351

 

129.9

 

 

 

 

 

 

 

Invested capital as at reporting date 1)

 

3,753,684

 

3,516,827

 

6.7

Average invested capital 1)

 

3,635,255

 

3,493,788

 

4.0

Return on average invested capital (ROIC, in %)

 

8.8

 

7.4

 

 

Equity as at reporting date

 

2,469,086

 

2,414,853

 

2.2

Return on equity (in %)

 

12.7

 

9.9

 

 

Equity ratio (in %)

 

53.8

 

55.3

 

 

 

 

 

 

 

 

 

Interest-bearing liabilities (net) 2)

 

728,551

 

146,380

 

397.7

Interest-bearing liabilities (net) / EBITDA 2)

 

1.14x

 

0.26x

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Key data for shareholders of Flughafen Zurich AG

 

 

 

 

 

 

Number of issued shares

 

30,701,875

 

30,701,875

 

 

Ordinary dividend per share (CHF)

 

3.90

 

3.70

 

5.4

Payout ratio (in %) 3)

 

38.7

 

47.8

 

 

Additional dividend per share (CHF)

 

3.20

 

3.20

 

0.0

Equity per share (CHF)

 

80.42

 

78.65

 

2.2

Basic earnings per share (CHF)

 

10.07

 

7.75

 

29.9

Diluted earnings per share (CHF)

 

10.07

 

7.75

 

29.9

 

 

 

 

 

 

 

Flughafen Zürich AG (registered share)

 

Security number

 

SIX Symbol

 

Reuters

 

 

31941693

 

FHZN

 

FHZN.S

Share price as at 31.12. (CHF)

 

176.70

 

162.50

 

8.7

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.

 

 

2019

 

2018

 

Change in %

Key operational data

 

 

 

 

 

 

Number of passengers

 

31,507,692

 

31,113,488

 

1.3

Number of flight movements

 

275,329

 

278,458

 

–1.1

Freight (in tonnes)

 

451,827

 

493,222

 

–8.4

Number of full-time positions as at reporting date

 

1,909

 

1,757

 

8.7

Number of employees as at reporting date

 

2,194

 

2,033

 

7.9

KEY DATA EXCLUDING THE INFLUENCE OF NOISE

Flughafen Zürich AG refinances all costs relating to aircraft noise through special noise charges. 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:

 

 

2019

 

2018

(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

 

1,210,084

 

–12,827

 

1,197,257

 

1,152,897

 

–11,629

 

1,141,268

Operating expenses

 

–568,249

 

3,465

 

–564,784

 

–581,918

 

60,921

 

–520,997

EBITDA

 

641,835

 

–9,362

 

632,473

 

570,979

 

49,292

 

620,271

Depreciation and amortisation

 

–238,719

 

4,266

 

–234,453

 

–244,452

 

4,790

 

–239,662

EBIT

 

403,116

 

–5,096

 

398,020

 

326,527

 

54,082

 

380,609

 

 

 

 

 

 

 

 

 

 

 

 

 

Profit

 

309,145

 

–7,249

 

301,896

 

237,841

 

48,441

 

286,282

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

(CHF 1,000)

 

2019

 

2018

 

Change in %

Total revenue

 

1,197,257

 

1,141,268

 

4.9

of which aviation revenue

 

648,624

 

645,038

 

0.6

of which non-aviation revenue

 

548,633

 

496,230

 

10.6

Operating expenses

 

–564,784

 

–520,997

 

8.4

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

 

632,473

 

620,271

 

2.0

EBITDA margin (in %)

 

52.8

 

54.3

 

 

Earnings before interest and tax (EBIT)

 

398,020

 

380,609

 

4.6

EBIT margin (in %)

 

33.2

 

33.3

 

 

Profit

 

301,896

 

286,282

 

5.5

 

 

 

 

 

 

 

Cash flow from operating activities

 

520,632

 

547,660

 

–4.9

Cash flow from investing activities

 

–624,875

 

–300,933

 

107.6

 

 

 

 

 

 

 

Invested capital as at reporting date 1)

 

3,644,106

 

3,406,994

 

7.0

Average invested capital 1)

 

3,525,550

 

3,360,122

 

4.9

Return on average invested capital (ROIC in %)

 

9.0

 

9.0

 

 

Equity as at reporting date

 

2,370,324

 

2,323,333

 

2.0

Return on equity (in %)

 

12.9

 

12.5

 

 

Equity ratio (in %)

 

58.1

 

60.9

 

 

 

 

 

 

 

 

 

Interest-bearing liabilities (net) 2)

 

1,158,447

 

579,830

 

99.8

Interest-bearing liabilities (net) / EBITDA 2)

 

1.83x

 

0.93x

 

 

 

 

 

 

 

 

 

Key data for shareholders of Flughafen Zurich AG

 

 

 

 

 

 

Payout ratio (in %) 3)

 

39.7

 

39.7

 

 

Equity per share (CHF)

 

77.20

 

75.67

 

2.0

Basic earnings per share (CHF)

 

9.83

 

9.32

 

5.5

Diluted earnings per share (CHF)

 

9.84

 

9.33

 

5.5

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.