17 Equity and reserves
|
(Number of shares) |
|
Issued registered shares (nominal value, CHF 10) |
|
Treasury shares |
|
Total shares in circulation |
|
Balance as at 1 January 2019 |
|
30,701,875 |
|
1,655 |
|
30,700,220 |
|
Purchase of treasury shares |
|
|
|
8,290 |
|
–8,290 |
|
Distribution of treasury shares to employees and third parties |
|
|
|
–6,812 |
|
6,812 |
|
Balance as at 31 December 2019 |
|
30,701,875 |
|
3,133 |
|
30,698,742 |
|
Purchase of treasury shares |
|
|
|
9,568 |
|
–9,568 |
|
Distribution of treasury shares to employees and third parties |
|
|
|
–8,650 |
|
8,650 |
|
Balance as at 31 December 2020 |
|
30,701,875 |
|
4,051 |
|
30,697,824 |
SHARE RIGHTS
The holders of registered shares are entitled to participate at the General Meeting of Shareholders and cast one vote per share.
Treasury shares
Treasury shares are distributed to employees and third parties under the bonus programme; see note 3, Personnel expenses, and note 24.4, Related parties. Treasury shares are used for the bonus programme and are held as treasury stock.
Translation reserve
The translation reserve comprises foreign currency differences arising from the translation of the financial statements of foreign operations and investments in associates.
Earnings per share
Basic and diluted earnings per share are calculated from the results and share data as at 31 December, which are composed as follows:
|
|
|
2020 |
|
2019 |
|
Result attributable to shareholders of Flughafen Zürich AG in CHF |
|
–69,133,285 |
|
309,135,090 |
|
Weighted average number of outstanding shares |
|
30,697,891 |
|
30,690,962 |
|
Effect of dilutive shares |
|
4,610 |
|
7,808 |
|
Adjusted weighted average number of outstanding shares |
|
30,702,501 |
|
30,698,770 |
|
Basic earnings per share (CHF) |
|
–2.25 |
|
10.07 |
|
Diluted earnings per share (CHF) |
|
–2.25 |
|
10.07 |
Dividend distribution limit
The amount available for payment as a dividend is based on the available retained earnings of Flughafen Zürich AG and is determined in accordance with the provisions of the Swiss Code of Obligations (CO). As at the reporting date, reserves amounting to CHF 154.0 million (2019: CHF 154.1 million) were subject to a restriction on distribution under the provisions of commercial law.
Owing to the widespread impact of COVID-19 and to safeguard liquidity, it was decided not to pay a dividend for the 2019 financial year. A proposal will be made to the General Meeting of Shareholders to waive payment of a dividend for the current year too.
Major shareholders and shareholder structure
The shareholder structure as at 31 December was as follows:
|
|
|
2020 |
|
2019 |
|
Public sector |
|
38.60% |
|
38.60% |
|
Private individuals |
|
7.68% |
|
6.90% |
|
Companies |
|
3.85% |
|
5.30% |
|
Pension funds |
|
1.51% |
|
2.30% |
|
Financial institutions (including nominees) |
|
19.04% |
|
22.00% |
|
Balance available and non-registered shareholders |
|
29.32% |
|
24.90% |
|
Total |
|
100.00% |
|
100.00% |
|
|
|
|
|
|
|
Number of shareholders |
|
15,477 |
|
13,922 |
As at the reporting date, the following shareholders or groups of shareholders held at least 5% of the voting rights:
|
|
|
2020 |
|
2019 |
|
Canton of Zurich |
|
33.33% |
|
33.33% |
|
City of Zurich |
|
5.00% |
|
5.00% |
