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 2022 |
|
138.1 |
|
1,704.1 |
|
4,799.2 |
|
280.0 |
|
268.5 |
|
7,189.9 |
|
Additions |
|
0.0 |
|
0.0 |
|
0.0 |
|
0.0 |
|
200.6 |
|
200.6 |
|
Disposals |
|
0.0 |
|
–45.7 |
|
–17.0 |
|
–12.4 |
|
0.0 |
|
–75.1 |
|
Transfer and reclassification |
|
0.0 |
|
103.7 |
|
64.0 |
|
11.4 |
|
–183.9 |
|
–4.8 |
|
Foreign exchange differences |
|
0.0 |
|
0.0 |
|
0.0 |
|
0.0 |
|
–3.4 |
|
–3.4 |
|
Balance as at 31 December 2022 |
|
138.1 |
|
1,762.1 |
|
4,846.2 |
|
279.0 |
|
281.8 |
|
7,307.2 |
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|
|
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|
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|
|
Balance as at 1 January 2023 |
|
138.1 |
|
1,762.1 |
|
4,846.2 |
|
279.0 |
|
281.8 |
|
7,307.2 |
|
Additions |
|
0.0 |
|
0.0 |
|
0.0 |
|
0.0 |
|
397.3 |
|
397.3 |
|
Disposals |
|
0.0 |
|
–18.9 |
|
–24.0 |
|
–14.3 |
|
0.0 |
|
–57.2 |
|
Transfer and reclassification |
|
0.0 |
|
29.5 |
|
123.7 |
|
16.1 |
|
–179.6 |
|
–10.3 |
|
Foreign exchange differences |
|
0.0 |
|
0.0 |
|
0.0 |
|
–0.3 |
|
–16.7 |
|
–17.0 |
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Balance as at 31 December 2023 |
|
138.1 |
|
1,772.7 |
|
4,945.9 |
|
280.5 |
|
482.8 |
|
7,620.0 |
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Depreciation and impairment |
|
|
|
|
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|
|
|
|
|
|
|
|
Balance as at 1 January 2022 |
|
0.0 |
|
–1,035.3 |
|
–3,197.3 |
|
–199.7 |
|
0.0 |
|
–4,432.3 |
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Depreciation |
|
0.0 |
|
–64.1 |
|
–153.5 |
|
–17.2 |
|
0.0 |
|
–234.8 |
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Disposals |
|
0.0 |
|
45.0 |
|
16.1 |
|
12.3 |
|
0.0 |
|
73.4 |
|
Foreign exchange differences |
|
0.0 |
|
0.0 |
|
0.0 |
|
0.0 |
|
0.0 |
|
0.0 |
|
Balance as at 31 December 2022 |
|
0.0 |
|
–1,054.4 |
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–3,334.7 |
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–204.6 |
|
0.0 |
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–4,593.7 |
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|
|
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|
|
|
|
|
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|
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Balance as at 1 January 2023 |
|
0.0 |
|
–1,054.4 |
|
–3,334.7 |
|
–204.6 |
|
0.0 |
|
–4,593.7 |
|
Depreciation |
|
0.0 |
|
–66.8 |
|
–146.2 |
|
–17.0 |
|
0.0 |
|
–230.0 |
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Disposals |
|
0.0 |
|
18.5 |
|
23.2 |
|
14.1 |
|
0.0 |
|
55.8 |
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Foreign exchange differences |
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0.0 |
|
0.0 |
|
0.0 |
|
0.1 |
|
0.0 |
|
0.1 |
|
Balance as at 31 December 2023 |
|
0.0 |
|
–1,102.7 |
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–3,457.7 |
|
–207.4 |
|
0.0 |
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–4,767.8 |
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Government subsidies and grants |
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Balance as at 1 January 2022 |
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0.0 |
|
–7.7 |
|
–3.1 |
|
0.0 |
|
–1.0 |
|
–11.8 |
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Additions |
|
0.0 |
|
0.0 |
|
0.0 |
|
0.0 |
|
–0.9 |
|
–0.9 |
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Disposals |
|
0.0 |
|
0.8 |
|
0.2 |
|
0.0 |
|
0.0 |
|
1.0 |
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Transfers |
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0.0 |
|
–0.5 |
|
–0.8 |
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–0.3 |
|
1.6 |
|
0.0 |
|
Balance as at 31 December 2022 |
|
0.0 |
|
–7.4 |
|
–3.7 |
|
–0.3 |
|
–0.3 |
|
–11.7 |
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|
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|
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|
|
|
Balance as at 1 January 2023 |
|
0.0 |
|
–7.4 |
|
–3.7 |
|
–0.3 |
|
–0.3 |
|
–11.7 |
|
Additions |
|
0.0 |
|
0.0 |
|
0.0 |
|
0.0 |
|
–0.4 |
|
–0.4 |
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Disposals |
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0.0 |
|
0.7 |
|
0.4 |
|
0.0 |
|
0.0 |
|
1.1 |
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Transfers |
|
0.0 |
|
0.0 |
|
–0.2 |
|
0.0 |
|
0.2 |
|
0.0 |
|
Balance as at 31 December 2023 |
|
0.0 |
|
–6.7 |
|
–3.5 |
|
–0.3 |
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–0.5 |
|
–11.0 |
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Net carrying amount as at 31 December 2022 |
|
138.1 |
|
700.3 |
|
1,507.8 |
|
74.1 |
|
281.5 |
|
2,701.8 |
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Net carrying amount as at 31 December 2023 |
|
138.1 |
|
663.3 |
|
1,484.7 |
|
72.8 |
|
482.3 |
|
2,841.2 |
Projects in progress
In the past financial year, the Zurich Airport Group invested a total of CHF 397.3 million in projects in progress (previous year: CHF 200.6 million). The largest investments at Zurich Airport are attributable to the following projects:
- Expansion and refurbishment of the baggage sorting system (CHF 40.7 million)
- Development of the main airport complex (CHF 32.5 million)
- Extension of the Zone West apron (CHF 22.5 million)
- Development of the landside passenger zones (CHF 16.5 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 167.0 million (previous year: CHF 25.3 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 –230.0 million was offset against government grants and subsidies recognised in the income statement in the amount of CHF 1.1 million.
