3 PERSONNEL EXPENSES
|
(CHF 1,000) |
|
2020 |
|
2019 |
|
Wages and salaries |
|
125,017 |
|
162,632 |
|
Pension costs for defined benefit plans 1) |
|
27,364 |
|
19,898 |
|
Social security contributions |
|
14,761 |
|
14,559 |
|
Other personnel expenses and employee benefits |
|
12,151 |
|
19,242 |
|
Total personnel expenses |
|
179,293 |
|
216,331 |
|
Average number of employees (full-time positions) |
|
1,848 |
|
1,833 |
|
Number of employees as at reporting date (full-time positions) |
|
1,788 |
|
1,909 |
|
Personnel expense per full-time position as at 31 December |
|
100 |
|
113 |
1) See note 22, Employee benefits.
In financial year 2020, short-time working compensation of CHF 34.0 million was offset against personnel expenses (wages and salaries).
Staff participation programme
Flughafen Zürich AG gives those employees who have completed their first year of service one share free of charge as a one-off payment in kind. In financial year 2020, 147 shares (2019: 138 shares) worth CHF 19,232 (2019: CHF 24,356) were handed out.
VARIABLE REMUNERATION FOR MEMBERS OF THE MANAGEMENT BOARD AND OTHER MEMBERS OF MANAGEMENT
The total annual remuneration awarded to members of the Management Board and other members of management comprises a fixed salary and a variable remuneration component, which is based on the consolidated result. EBIT according to the budget (excluding the influence of aircraft noise) has been adopted as the target. The decision relating to the degree of achievement of the relevant target is taken in the following financial year (grant date). Two thirds of the variable remuneration is paid out in cash and one third in shares.
|
|
|
2020 |
|
2019 |
|
2019 1) |
|
Price per share 1) |
|
(Recipient) |
|
(CHF 1,000) |
|
(CHF 1,000) |
|
(Number of shares) |
|
(CHF) |
|
Members of the Management Board |
|
240 |
|
333 |
|
2,885 |
|
115.30 |
|
Other members of management |
|
479 |
|
667 |
|
5,618 |
|
115.30 |
|
Adjustment of variable remuneration accrued in the previous year 2) |
|
–20 |
|
–4 |
|
|
|
|
|
Total |
|
699 |
|
996 |
|
8,503 |
|
|
1) Shares distributed in the 2020 financial year under the variable remuneration programme for the Management Board and other members of management (number and price per share) for the 2019 financial year.
2) In the subsequent period, the accrued variable remuneration is adjusted through personnel expenses on the basis of the actual degree of achievement of the relevant profit figure.
As set out in the Articles of Incorporation and the relevant regulatory provisions, the Board of Directors used its discretion in setting the variable remuneration for financial year 2020. Based on that, the equity-settled portion for the reporting period was calculated and accounted for on an accrual basis. The number of shares to be granted cannot yet be established precisely at the reporting date, as that number is determined based on the quoted price as at the payment date (mid-April 2021). If the shares had been granted as at year-end, a total of 4,610 shares would have been distributed.
REMUNERATION OF THE BOARD OF DIRECTORS
The remuneration awarded to the Board of Directors comprises an annual lump sum plus payments for attending meetings.
Option programme
No option programme exists at Flughafen Zürich AG.
