8 Property, plant and equipment
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(CHF million) |
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Land |
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Engineering structures |
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Buildings |
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Movables |
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Projects in progress |
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Total |
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Cost |
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Balance as at 1 January 2021 |
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138.1 |
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1,684.1 |
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4,703.2 |
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280.5 |
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390.3 |
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7,196.2 |
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Additions |
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0.0 |
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0.0 |
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0.0 |
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0.0 |
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141.6 |
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141.6 |
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Disposals |
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0.0 |
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–3.2 |
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–124.1 |
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–15.3 |
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0.0 |
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–142.6 |
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Transfer and reclassification |
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0.0 |
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23.2 |
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220.2 |
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15.0 |
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–263.4 |
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–5.0 |
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Foreign exchange differences |
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0.0 |
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0.0 |
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–0.1 |
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–0.2 |
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0.0 |
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–0.3 |
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Balance as at 31 December 2021 |
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138.1 |
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1,704.1 |
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4,799.2 |
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280.0 |
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268.5 |
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7,189.9 |
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Balance as at 1 January 2022 |
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138.1 |
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1,704.1 |
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4,799.2 |
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280.0 |
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268.5 |
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7,189.9 |
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Additions |
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0.0 |
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0.0 |
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0.0 |
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0.0 |
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200.6 |
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200.6 |
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Disposals |
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0.0 |
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–45.7 |
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–17.0 |
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–12.4 |
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0.0 |
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–75.1 |
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Transfer and reclassification |
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0.0 |
|
103.7 |
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64.0 |
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11.4 |
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–183.9 |
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–4.8 |
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Foreign exchange differences |
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0.0 |
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0.0 |
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0.0 |
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0.0 |
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–3.4 |
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–3.4 |
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Balance as at 31 December 2022 |
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138.1 |
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1,762.1 |
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4,846.2 |
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279.0 |
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281.8 |
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7,307.2 |
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Depreciation and impairment |
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Balance as at 1 January 2021 |
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0.0 |
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–978.4 |
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–3,165.8 |
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–197.8 |
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0.0 |
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–4,342.0 |
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Depreciation |
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0.0 |
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–60.1 |
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–155.1 |
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–17.3 |
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0.0 |
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–232.5 |
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Disposals |
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0.0 |
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3.2 |
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123.6 |
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15.3 |
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0.0 |
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142.1 |
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Foreign exchange differences |
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0.0 |
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0.0 |
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0.0 |
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0.1 |
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0.0 |
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0.1 |
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Balance as at 31 December 2021 |
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0.0 |
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–1,035.3 |
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–3,197.3 |
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–199.7 |
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0.0 |
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–4,432.3 |
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Balance as at 1 January 2022 |
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0.0 |
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–1,035.3 |
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–3,197.3 |
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–199.7 |
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0.0 |
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–4,432.3 |
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Depreciation |
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0.0 |
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–64.1 |
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–153.5 |
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–17.2 |
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0.0 |
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–234.8 |
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Disposals |
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0.0 |
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45.0 |
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16.1 |
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12.3 |
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0.0 |
|
73.4 |
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Foreign exchange differences |
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0.0 |
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0.0 |
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0.0 |
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0.0 |
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0.0 |
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0.0 |
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Balance as at 31 December 2022 |
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0.0 |
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–1,054.4 |
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–3,334.7 |
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–204.6 |
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0.0 |
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–4,593.7 |
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Government subsidies and grants |
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Balance as at 1 January 2021 |
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0.0 |
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–8.5 |
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–3.4 |
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0.0 |
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–0.3 |
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–12.2 |
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Additions |
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0.0 |
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0.0 |
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0.0 |
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0.0 |
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–0.7 |
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–0.7 |
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Disposals |
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0.0 |
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0.8 |
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0.3 |
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0.0 |
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0.0 |
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1.1 |
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Transfers |
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0.0 |
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0.0 |
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0.0 |
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0.0 |
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0.0 |
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0.0 |
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Balance as at 31 December 2021 |
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0.0 |
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–7.7 |
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–3.1 |
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0.0 |
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–1.0 |
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–11.8 |
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Balance as at 1 January 2022 |
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0.0 |
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–7.7 |
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–3.1 |
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0.0 |
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–1.0 |
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–11.8 |
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Additions |
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0.0 |
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0.0 |
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0.0 |
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0.0 |
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–0.9 |
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–0.9 |
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Disposals |
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0.0 |
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0.8 |
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0.2 |
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0.0 |
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0.0 |
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1.0 |
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Transfers |
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0.0 |
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–0.5 |
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–0.8 |
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–0.3 |
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1.6 |
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0.0 |
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Balance as at 31 December 2022 |
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0.0 |
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–7.4 |
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–3.7 |
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–0.3 |
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–0.3 |
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–11.7 |
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Net carrying amount as at 31 December 2021 |
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138.1 |
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661.1 |
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1,598.8 |
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80.3 |
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267.5 |
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2,745.8 |
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Net carrying amount as at 31 December 2022 |
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138.1 |
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700.3 |
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1,507.8 |
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74.1 |
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281.5 |
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2,701.8 |
Projects in progress
In the past financial year, the Zurich Airport Group invested a total of CHF 200.6 million in projects in progress (previous year: CHF 141.6 million). The largest investments at Zurich Airport are attributable to the following projects:
- Expansion and refurbishment of the baggage sorting system (CHF 56.4 million)
- Renovation of runway 10/28 (CHF 32.3 million)
- Development of the landside passenger zones (CHF 11.1 million)
In the reporting period, capitalised development, planning and implementation costs relating to the construction and operation of Noida International Airport in New Delhi, India amounted to CHF 25.3 million (previous year: CHF 21.7 million). This amount includes the capitalised ongoing depreciation charges on the right-of-use asset relating to the land on which the airport is being built (see note 9, Right-of-use assets) and any interest expenses incurred on the corresponding lease liabilities (see note 18, Financial liabilities).
Depreciation
Depreciation of property, plant and equipment totalling CHF –234.8 million was offset against government grants and subsidies recognised in the income statement in the amount of CHF 1.0 million.
Impairment
As in previous years, an impairment test was performed for items of property, plant and equipment due to the coronavirus pandemic and its effects (see Impairment of assets in accordance with IAS 36).
