Key financial data

Key data

(CHF 1,000)

 

2020

 

2019

 

Change in %

Total revenue

 

623,974

 

1,210,084

 

–48.4

of which aviation revenue

 

221,716

 

661,451

 

–66.5

of which non-aviation revenue

 

402,258

 

548,633

 

–26.7

Operating expenses

 

–427,950

 

–568,249

 

–24.7

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

 

196,024

 

641,835

 

–69.5

EBITDA margin (in %)

 

31.4

 

53.0

 

 

Earnings before interest and tax (EBIT)

 

–56,566

 

403,116

 

 

EBIT margin (in %)

 

–9.1

 

33.3

 

 

Consolidated result

 

–69,119

 

309,145

 

 

 

 

 

 

 

 

 

Cash flow from operating activities

 

147,278

 

511,737

 

–71.2

Cash flow from investing activities

 

–565,110

 

–628,311

 

–10.1

 

 

 

 

 

 

 

Invested capital as at reporting date 1)

 

4,265,044

 

3,753,684

 

13.6

Average invested capital 1)

 

4,009,364

 

3,635,255

 

10.3

Return on average invested capital (ROIC, in %)

 

–1.1

 

8.8

 

 

Equity as at reporting date

 

2,336,802

 

2,469,086

 

–5.4

Return on equity (in %)

 

–2.9

 

12.7

 

 

Equity ratio (in %)

 

46.1

 

53.8

 

 

 

 

 

 

 

 

 

Interest-bearing liabilities (net) 2)

 

980,314

 

728,551

 

34.6

Interest-bearing liabilities (net)/EBITDA 2)

 

5.00x

 

1.14x

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Key data for shareholders of Flughafen Zürich AG

 

 

 

 

 

 

Number of issued shares

 

30,701,875

 

30,701,875

 

 

Ordinary dividend per share (CHF) 3)

 

0.00

 

0.00

 

 

Payout ratio (in %)

 

0.0

 

0.0

 

 

Equity per share (CHF)

 

76.11

 

80.42

 

–5.4

Basic earnings per share (CHF)

 

–2.25

 

10.07

 

 

Diluted earnings per share (CHF)

 

–2.25

 

10.07

 

 

 

 

 

 

 

 

 

Flughafen Zürich AG (registered share)

 

Security number

 

SIX Symbol

 

Reuters

 

 

31941693

 

FHZN

 

FHZN.S

Share price as at 31.12. (CHF)

 

156.10

 

176.70

 

–11.7

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) 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.

 

 

2020

 

2019

 

Change in %

Key operational data

 

 

 

 

 

 

Number of passengers 1)

 

8,341,047

 

31,507,692

 

–73.5

Number of flight movements 1)

 

111,328

 

275,329

 

–59.6

Freight (in tonnes) 1)

 

291,163

 

451,827

 

–35.6

Number of full-time positions as at reporting date

 

1,788

 

1,909

 

–6.3

Number of employees as at reporting date

 

2,053

 

2,194

 

–6.4

1) Zurich Airport.

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:

 

 

2020

 

2019

(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

 

623,974

 

–5,530

 

618,444

 

1,210,084

 

–12,827

 

1,197,257

Operating expenses

 

–427,950

 

3,797

 

–424,153

 

–568,249

 

3,465

 

–564,784

EBITDA

 

196,024

 

–1,733

 

194,291

 

641,835

 

–9,362

 

632,473

Depreciation and amortisation

 

–252,590

 

3,639

 

–248,951

 

–238,719

 

4,266

 

–234,453

EBIT

 

–56,566

 

1,906

 

–54,660

 

403,116

 

–5,096

 

398,020

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated result

 

–69,119

 

159

 

–68,960

 

309,145

 

–7,249

 

301,896

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

(CHF 1,000)

 

2020

 

2019

 

Change in %

Total revenue

 

618,444

 

1,197,257

 

–48.3

of which aviation revenue

 

216,186

 

648,624

 

–66.7

of which non-aviation revenue

 

402,258

 

548,633

 

–26.7

Operating expenses

 

–424,153

 

–564,784

 

–24.9

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

 

194,291

 

632,473

 

–69.3

EBITDA margin (in %)

 

31.4

 

52.8

 

 

Earnings before interest and tax (EBIT)

 

–54,660

 

398,020

 

 

EBIT margin (in %)

 

–8.8

 

33.2

 

 

Consolidated result

 

–68,960

 

301,896

 

 

 

 

 

 

 

 

 

Cash flow from operating activities

 

159,189

 

520,632

 

–69.4

Cash flow from investing activities

 

–559,396

 

–624,875

 

–10.5

 

 

 

 

 

 

 

Invested capital as at reporting date 1)

 

4,148,984

 

3,644,106

 

13.9

Average invested capital 1)

 

3,896,545

 

3,525,550

 

10.5

Return on average invested capital (ROIC in %)

 

–1.1

 

9.0

 

 

Equity as at reporting date

 

2,238,196

 

2,370,324

 

–5.6

Return on equity (in %)

 

–3.0

 

12.9

 

 

Equity ratio (in %)

 

48.9

 

58.1

 

 

 

 

 

 

 

 

 

Interest-bearing liabilities (net) 2)

 

1,403,350

 

1,158,447

 

21.1

Interest-bearing liabilities (net)/EBITDA 2)

 

7.22x

 

1.83x

 

 

 

 

 

 

 

 

 

Key data for shareholders of Flughafen Zürich AG

 

 

 

 

 

 

Payout ratio (in %)

 

0.0

 

0.0

 

 

Equity per share (CHF)

 

72.90

 

77.20

 

–5.6

Basic earnings per share (CHF)

 

–2.21

 

9.83

 

 

Diluted earnings per share (CHF)

 

–2.21

 

9.84

 

 

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.