6 Finance result
|
|
|
|
|
|
|
(CHF million) |
|
2023 |
|
2022 |
|
Interest expenses on debentures and non-current loans |
|
–6.8 |
|
–11.3 |
|
Interest expenses on defined benefit obligations |
|
0.0 |
|
–0.2 |
|
Interest expenses on finance lease liabilities |
|
0.0 |
|
–0.1 |
|
Other interest expenses |
|
–8.1 |
|
–10.9 |
|
Adjustments to fair value on financial assets of Airport Zurich Noise Fund |
|
0.0 |
|
–11.8 |
|
Present value adjustment on provision for formal expropriations plus sound insulation and resident protection |
|
–5.9 |
|
–0.8 |
|
Present value adjustment on liabilities from concession arrangements |
|
–0.1 |
|
–1.0 |
|
Foreign exchange losses |
|
0.0 |
|
–0.8 |
|
Other finance costs |
|
–4.1 |
|
–5.2 |
|
Total finance costs |
|
–25.0 |
|
–42.2 |
|
|
|
|
|
|
|
Interest income on financial assets of Airport Zurich Noise Fund |
|
1.7 |
|
0.6 |
|
Interest income on defined benefit obligations |
|
0.1 |
|
0.0 |
|
Adjustments to fair value on financial assets of Airport Zurich Noise Fund |
|
0.2 |
|
0.0 |
|
Other interest income |
|
10.1 |
|
4.9 |
|
Foreign exchange gains |
|
0.3 |
|
–0.0 |
|
Other finance income |
|
0.4 |
|
16.7 |
|
Total finance income |
|
12.8 |
|
22.2 |
|
|
|
|
|
|
|
Finance result |
|
–12.2 |
|
–20.0 |
Interest expenses on debentures and non-current loans decreased to CHF –6.8 million (prior-year period: CHF –11.3 million) as a result of the repayment of a CHF 400.0 million debenture (see note 18, Financial liabilities) in April 2023.
The financial assets of the Airport Zurich Noise Fund (AZNF) held at fair value showed changes in value of CHF 0.2 million in 2023 (prior-year period: CHF –11.8 million). Financial assets held at fair value were reallocated into CHF-denominated bonds in the reporting period and future fluctuations should be much smaller.
Expenses of CHF –5.9 million (prior-year period: CHF –0.8 million) for the present value adjustment on the provision for formal expropriations plus sound insulation and resident protection are attributable to the interest effect from the discounting of the relevant provision (see note 19, Provision for formal expropriations plus sound insulation and resident protection).
Other interest income increased year on year to CHF 10.1 million (prior-year period: CHF 4.9 million) due in particular to the generally more favourable interest rate environment.
In the previous year, other finance income consisted mainly of two one-time items: the repurchase of own debentures and the prepayment of the future fixed concession payments in Florianópolis resulted in gains of CHF 8.4 million and CHF 8.0 million, respectively.
