10 Provision for formal expropriations plus sound insulation and resident protection

 

 

 

 

 

 

 

(CHF million)

 

Formal expropriations

 

Sound insulation and resident protection

 

Total

Balance as at 1 January 2023

 

226.3

 

92.4

 

318.7

Provisions used 1)

 

–0.4

 

–2.2

 

–2.6

Increase of provision

 

1.3

 

0.6

 

1.9

Present value adjustment

 

2.2

 

0.9

 

3.1

Balance as at 30 June 2023

 

229.4

 

91.7

 

321.1

of which current (planned payment within 1 year)

 

43.4

 

13.5

 

56.9

of which non-current (planned payment from 1 year on)

 

186.0

 

78.2

 

264.2

1) The amount paid for formal expropriations only includes actual payments of compensation, and excludes other associated external costs (in accordance with the regulations of the Airport Zurich Noise Fund).

Provision for formal expropriations

As at 30 June 2023, the estimated costs for formal expropriations remained unchanged at CHF 330.0 million, of which CHF 87.0 million had already been paid out at that date. In the interim consolidated financial statements, a provision was recognised for the outstanding costs of CHF 243.0 million (nominal amount) at their present value of CHF 229.4 million. The relevant interest rate here is 1.9 % (31 December 2022: 2.1 %). It is expected that the payments can be completed by the end of 2030.

Provision for sound insulation and resident protection

As at 30 June 2023, the estimated costs for sound insulation and resident protection measures remained unchanged at CHF 400.0 million, of which CHF 302.6 million had already been paid out at that date. In the interim consolidated financial statements, a provision was recognised for the outstanding costs of CHF 97.4 million (nominal amount) at their present value of CHF 91.7 million. The relevant interest rate here is 1.9 % (31 December 2022: 2.1%). It is expected that the payments can be completed by the end of 2030.