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 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 reclassifications |
|
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 |
|
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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|
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Balance as at 1 January 2024 |
|
138.1 |
|
1,772.7 |
|
4,945.9 |
|
280.5 |
|
482.8 |
|
7,620.0 |
|
Additions |
|
0.0 |
|
0.0 |
|
0.0 |
|
0.0 |
|
506.4 |
|
506.4 |
|
Disposals |
|
0.0 |
|
–2.3 |
|
–40.5 |
|
–11.3 |
|
0.0 |
|
–54.1 |
|
Transfer and reclassifications |
|
0.0 |
|
64.2 |
|
74.5 |
|
11.8 |
|
–177.2 |
|
–26.7 |
|
Foreign exchange differences |
|
0.0 |
|
0.0 |
|
0.0 |
|
0.1 |
|
9.8 |
|
9.9 |
|
Balance as at 31 December 2024 |
|
138.1 |
|
1,834.6 |
|
4,979.9 |
|
281.1 |
|
821.8 |
|
8,055.5 |
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Depreciation and impairment |
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|
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|
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Balance as at 1 January 2023 |
|
0.0 |
|
–1,054.4 |
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–3,334.7 |
|
–204.6 |
|
0.0 |
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–4,593.7 |
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Depreciation |
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0.0 |
|
–66.8 |
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–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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Transfer and reclassifications |
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0.0 |
|
0.0 |
|
0.0 |
|
0.0 |
|
0.0 |
|
0.0 |
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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 |
|
–4,767.8 |
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|
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|
|
|
|
|
|
|
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Balance as at 1 January 2024 |
|
0.0 |
|
–1,102.7 |
|
–3,457.7 |
|
–207.4 |
|
0.0 |
|
–4,767.8 |
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Depreciation |
|
0.0 |
|
–66.6 |
|
–148.5 |
|
–16.8 |
|
0.0 |
|
–231.9 |
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Disposals |
|
0.0 |
|
2.1 |
|
39.0 |
|
11.2 |
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0.0 |
|
52.3 |
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Transfer and reclassifications |
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0.0 |
|
0.0 |
|
–0.2 |
|
0.2 |
|
0.0 |
|
0.0 |
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Foreign exchange differences |
|
0.0 |
|
0.0 |
|
0.0 |
|
0.0 |
|
0.0 |
|
0.0 |
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Balance as at 31 December 2024 |
|
0.0 |
|
–1,167.2 |
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–3,567.4 |
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–212.8 |
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0.0 |
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–4,947.4 |
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Government subsidies and grants |
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Balance as at 1 January 2023 |
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0.0 |
|
–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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Additions |
|
0.0 |
|
0.0 |
|
0.0 |
|
0.0 |
|
–0.4 |
|
–0.4 |
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Disposals |
|
0.0 |
|
0.7 |
|
0.4 |
|
0.0 |
|
0.0 |
|
1.1 |
|
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 |
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–0.3 |
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–0.5 |
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–11.0 |
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Balance as at 1 January 2024 |
|
0.0 |
|
–6.7 |
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–3.5 |
|
–0.3 |
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–0.5 |
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–11.0 |
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Additions |
|
0.0 |
|
0.0 |
|
0.0 |
|
0.0 |
|
–1.1 |
|
–1.1 |
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Disposals |
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0.0 |
|
0.8 |
|
0.4 |
|
0.1 |
|
0.0 |
|
1.3 |
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Transfers |
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0.0 |
|
0.0 |
|
–0.7 |
|
0.0 |
|
0.7 |
|
0.0 |
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Balance as at 31 December 2024 |
|
0.0 |
|
–5.9 |
|
–3.8 |
|
–0.2 |
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–0.9 |
|
–10.8 |
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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 |
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Net carrying amount as at 31 December 2024 |
|
138.1 |
|
661.5 |
|
1,408.7 |
|
68.1 |
|
820.9 |
|
3,097.3 |
Projects in progress
In the past financial year, the Zurich Airport Group invested a total of CHF 506.4 million in projects in progress (previous year: CHF 397.3 million). The largest investments at Zurich Airport are attributable to the following projects:
- Expansion and refurbishment of the baggage sorting system (CHF 47.1 million)
- Work in preparation for the development of the main airport complex (CHF 46.8 million)
- Development of the landside passenger zones (CHF 33.2 million)
- Extension of the Zone West apron (CHF 22.5 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 195.2 million (previous year: CHF 167.0 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 of CHF –231.9 million was offset against reversals of government grants and subsidies of CHF 1.3 million.
