II Notes to the interim consolidated financial statements
1 Segment reporting
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(CHF million) |
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Regulated business |
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Noise |
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Non-regulated business |
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International |
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Eliminations |
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Consolidated |
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First half 2023 |
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Revenue from third parties |
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278.6 |
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0.0 |
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246.6 |
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51.5 |
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0.0 |
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576.7 |
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Inter-segment revenue |
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13.7 |
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0.0 |
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53.1 |
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0.0 |
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–66.8 |
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0.0 |
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Total revenue |
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292.3 |
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0.0 |
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299.7 |
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51.5 |
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–66.8 |
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576.7 |
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Personnel expenses |
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–38.8 |
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–0.9 |
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–57.8 |
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–5.7 |
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0.0 |
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–103.2 |
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Other operating expenses |
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–81.3 |
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–1.0 |
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–47.4 |
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–20.0 |
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0.0 |
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–149.7 |
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Inter-segment operating expenses |
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–52.7 |
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–0.4 |
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–12.9 |
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–0.8 |
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66.8 |
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–0.0 |
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Segment result (EBITDA) |
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119.6 |
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–2.3 |
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181.5 |
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25.0 |
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0.0 |
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323.8 |
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Depreciation and amortisation |
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–72.3 |
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–1.5 |
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–63.2 |
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–5.7 |
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0.0 |
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–142.6 |
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Segment result (EBIT) |
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47.3 |
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–3.7 |
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118.4 |
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19.3 |
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0.0 |
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181.2 |
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Finance result |
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–8.6 |
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Share of result of associates |
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0.0 |
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Income taxes |
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–34.5 |
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Consolidated result |
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138.1 |
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Invested capital as at 30 June 2023 |
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1,731.7 |
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90.4 |
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1,805.1 |
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644.0 |
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4,271.2 |
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Non-interest-bearing non-current liabilities |
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352.9 |
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Non-interest-bearing current liabilities |
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309.3 |
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Total assets as at 30 June 2023 |
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4,933.4 |
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ROIC (in %) 1) |
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4.5 |
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–3.5 |
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9.6 |
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3.0 |
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6.3 |
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(CHF million) |
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Aviation |
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PRM |
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User fees |
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Air security |
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Access fees |
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Eliminations |
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Total regulated business |
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First half 2023 |
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Revenue from third parties |
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167.8 |
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6.5 |
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30.0 |
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73.7 |
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0.7 |
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0.0 |
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278.6 |
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Inter-segment revenue |
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14.1 |
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0.0 |
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2.8 |
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5.0 |
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1.7 |
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–10.0 |
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13.7 |
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Total revenue |
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181.9 |
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6.5 |
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32.8 |
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78.7 |
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2.4 |
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–10.0 |
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292.3 |
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Personnel expenses |
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–31.7 |
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0.0 |
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–5.3 |
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–1.3 |
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–0.5 |
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0.0 |
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–38.8 |
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Other operating expenses |
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–17.7 |
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–5.5 |
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–2.6 |
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–31.3 |
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–24.1 |
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0.0 |
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–81.3 |
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Inter-segment operating expenses |
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–37.5 |
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–0.6 |
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–10.3 |
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–7.9 |
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–6.4 |
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10.0 |
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–52.7 |
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EBITDA |
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95.1 |
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0.4 |
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14.6 |
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38.2 |
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–28.6 |
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0.0 |
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119.6 |
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Depreciation and amortisation |
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–51.8 |
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–0.1 |
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–16.0 |
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–2.9 |
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–1.6 |
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–72.3 |
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EBIT |
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43.3 |
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0.3 |
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–1.4 |
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35.3 |
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–30.2 |
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0.0 |
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47.3 |
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Invested capital as at 30 June 2023 |
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1,191.7 |
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5.6 |
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425.8 |
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81.7 |
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26.9 |
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1,731.7 |
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ROIC (in %) 1) |
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5.7 |
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7.1 |
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–0.5 |
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57.0 |
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–182.3 |
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4.5 |
1) Based on the result for the 12-month period preceding the reporting date.
The reportable segments for the prior-year period are as follows:
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(CHF million) |
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Regulated business |
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Noise |
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Non-regulated business |
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International |
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Eliminations |
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Consolidated |
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First half 2022 |
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Revenue from third parties |
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205.9 |
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0.0 |
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213.9 |
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38.5 |
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0.0 |
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458.3 |
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Inter-segment revenue |
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13.5 |
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0.0 |
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41.5 |
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0.0 |
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–55.0 |
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0.0 |
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Total revenue |
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219.5 |
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0.0 |
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255.4 |
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38.5 |
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–55.0 |
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458.3 |
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Personnel expenses |
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–35.1 |
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–0.8 |
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–52.4 |
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–6.1 |
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0.0 |
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–94.4 |
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Other operating expenses |
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–74.9 |
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1.5 |
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–35.6 |
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–16.6 |
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0.0 |
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–125.6 |
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Inter-segment operating expenses |
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–40.4 |
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–0.4 |
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–13.5 |
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–0.7 |
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55.0 |
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0.0 |
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Segment result (EBITDA) |
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69.1 |
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0.3 |
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153.9 |
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15.0 |
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0.0 |
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238.3 |
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Depreciation and amortisation |
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–71.2 |
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–1.8 |
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–63.9 |
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–5.1 |
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0.0 |
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–142.0 |
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Segment result (EBIT) |
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–2.1 |
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–1.6 |
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90.0 |
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9.9 |
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0.0 |
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96.3 |
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Finance result |
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–26.9 |
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Share of result of associates |
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0.0 |
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Income taxes |
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–14.0 |
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Consolidated result |
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55.4 |
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Invested capital as at 30 June 2022 |
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1,940.5 |
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105.2 |
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1,961.8 |
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546.6 |
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4,554.2 |
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Non-interest-bearing non-current liabilities |
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381.8 |
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Non-interest-bearing current liabilities |
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220.5 |
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Total assets as at 30 June 2022 |
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5,156.5 |
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ROIC (in %) 1) |
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–1.3 |
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–3.8 |
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7.3 |
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3.1 |
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2.9 |
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(CHF million) |
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Aviation |
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PRM |
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User fees |
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Air security |
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Access fees |
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Eliminations |
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Total regulated business |
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First half 2022 |
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Revenue from third parties |
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125.5 |
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4.5 |
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23.5 |
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52.0 |
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0.4 |
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0.0 |
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205.9 |
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Inter-segment revenue |
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13.5 |
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0.0 |
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2.7 |
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5.9 |
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1.3 |
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–9.9 |
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13.5 |
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Total revenue |
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139.0 |
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4.5 |
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26.2 |
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57.8 |
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1.8 |
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–9.9 |
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219.5 |
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Personnel expenses |
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–28.9 |
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0.0 |
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–4.5 |
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–1.2 |
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–0.5 |
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0.0 |
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–35.1 |
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Other operating expenses |
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–19.0 |
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–4.7 |
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–2.3 |
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–27.4 |
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–21.6 |
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0.0 |
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–74.9 |
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Inter-segment operating expenses |
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–29.0 |
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–0.5 |
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–7.5 |
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–6.4 |
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–6.9 |
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9.9 |
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–40.4 |
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EBITDA |
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62.1 |
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–0.6 |
|
12.0 |
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22.8 |
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–27.2 |
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0.0 |
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69.1 |
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Depreciation and amortisation |
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–51.3 |
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–0.1 |
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–15.3 |
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–2.9 |
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–1.6 |
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–71.2 |
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EBIT |
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10.8 |
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–0.7 |
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–3.3 |
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19.9 |
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–28.8 |
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0.0 |
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–2.1 |
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Invested capital as at 30 June 2022 |
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1,336.6 |
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9.7 |
|
437.7 |
|
130.5 |
|
26.0 |
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1,940.5 |
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ROIC (in %) 1) |
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0.3 |
|
–22.0 |
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–1.6 |
|
22.8 |
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–198.3 |
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–1.3 |
1) Based on the result for the 12-month period preceding the reporting date.
