Financial outlook

The development of traffic volumes to date at the Zurich site is slightly above the expectations expressed at the beginning of this year. For this reason, around 31 million passengers are now expected, virtually equal to the number reached in 2019.

Aviation revenue will slightly outperform traffic volumes. This is due especially to the increase in user fees at the beginning of the year in connection with the refurbishment of the baggage sorting and handling system.

Non-aviation revenue is also expected to be higher. At the Zurich site, rising traffic volumes will have a positive impact on parking revenue, whereas the remaining commercial revenue will grow at a slower pace due in part to accounting effects (IFRS 16). Real estate revenue will be roughly in line with the prior-year figure. Revenue from international business will show above-average growth thanks to the integration of the newly acquired airport in Natal, Brazil, and the general momentum in the growth of international business.

Operating expenses, particularly personnel and security-related expenses, are expected to be driven higher by inflation and volumes in financial year 2024.

Overall, Zurich Airport Ltd. expects to post both higher earnings before interest, tax, depreciation and amortisation (EBITDA) and a larger consolidated profit for full-year 2024 than in the past financial year.

Investment at the Zurich site will amount to between CHF 250 and 300 million in 2024. Investment at subsidiaries abroad should come to CHF 350 million, with the construction of the new airport in Noida accounting for most of this.