6 Finance result
|
(CHF 1,000) |
|
2020 |
|
2019 |
|
Interest expenses on debentures and non-current loans |
|
–9,734 |
|
–10,473 |
|
Net interest expenses on defined benefit obligations |
|
–349 |
|
–1,128 |
|
Interest expenses on finance lease liabilities |
|
–12 |
|
–72 |
|
Other interest expenses |
|
–8,202 |
|
–2,828 |
|
Present value adjustment on provision for formal expropriations plus sound insulation and resident protection |
|
0 |
|
–5,423 |
|
Present value adjustment on liabilities from concession agreements |
|
–2,706 |
|
–2,676 |
|
Foreign exchange losses |
|
–10 |
|
–909 |
|
Other finance costs |
|
–6,705 |
|
–4,103 |
|
Total finance costs |
|
–27,718 |
|
–27,612 |
|
|
|
|
|
|
|
Interest income on financial assets of Airport of Zurich Noise Fund |
|
422 |
|
765 |
|
Adjustments to fair value on financial assets of Airport of Zurich Noise Fund |
|
1,804 |
|
9,103 |
|
Other interest income |
|
539 |
|
3,530 |
|
Other finance income |
|
138 |
|
204 |
|
Total finance income |
|
2,903 |
|
13,602 |
|
|
|
|
|
|
|
Finance result |
|
–24,815 |
|
–14,010 |
Interest expenses on debentures and non-current loans were down slightly on the prior-year figure to CHF –9.7 million for the reporting period. As liabilities rose overall, the decrease is due to average interest rates being lower. Other interest expenses rose to CHF –8.2 million for financial year 2020 due in particular to an increase in the foreign concessionsʼ liabilities to banks.
While the expense for the present value adjustment on the provision for formal expropriations plus sound insulation and resident protection came to CHF –5.4 million in the previous year, no expense was incurred in the past financial year, as the applicable interest rate remained unchanged at 0.0%. The expense for the present value adjustment on liabilities from concession agreements was virtually unchanged year on year at CHF –2.7 million.
Other finance costs for the reporting period included an impairment loss of CHF 3.8 million on a financial interest in Curaçao airport held through the subsidiary A-Port S.A.
Positive changes in value amounting to CHF 1.8 million were achieved on the financial assets of the Airport of Zurich Noise Fund (AZNF) held at fair value in the reporting period (2019: CHF 9.1 million). Interest income on the other financial assets of the AZNF declined from CHF 0.8 million to CHF 0.4 million.
