3 Personnel expenses
(CHF million) | 2025 | 2024 | ||
Wages and salaries | 203.8 | 183.7 | ||
Pension costs for defined benefit plans 1 | 23.9 | 22.1 | ||
Social security contributions | 17.3 | 15.8 | ||
Other personnel expenses and employee benefits | 25.4 | 23.4 | ||
Total personnel expenses | 270.5 | 244.9 | ||
Number of employees as at reporting date (full-time equivalents) 2 | 2,479 | 2,130 | ||
Average number of employees (full-time equivalents) 2 | 2,305 | 2,032 | ||
Personnel expense per full-time equivalent as at 31 December (in CHF) | 109,106 | 114,999 | ||
1See note 22.1 a) Defined benefit plans
2Excluding apprentices and trainees
Variable remuneration for members of the Management Board and other members of Management
The total annual remuneration awarded to members of the Management Board and other members of management comprises a fixed salary and a variable remuneration component. The variable remuneration entails the achievement of a financial target with a weighting of two-thirds and the achievement of three qualitative targets that have a combined weighting of one-third. The financial target and the three qualitative targets as well as the target values are reviewed annually by the Board of Directors and, if necessary, adjusted.
The financial performance indicator corresponds to the EBITDA margin. The qualitative targets for 2025 are aligned to specific key performance indicators pertaining to sustainability, customer and passenger satisfaction as well as the recommendation rate/employee satisfaction.
The decision relating to the degree of achievement of the relevant target is taken in the following financial year (grant date). The variable remuneration paid to members of the Management Board and members of the most senior management is determined as a total amount based on target achievement, two-thirds of which is paid out in cash and one-third in shares.
For the year under review, expenses for share-based payments amount to CHF 1.2 million (previous year: CHF 1.2 million). The number of shares to be granted cannot yet be established precisely at the reporting date, as that number is determined based on the quoted price as at the payment date (April 2026). If the shares had been granted at the end of the year, 4,719 shares (previous year: 5,555 shares) would have been distributed.
Staff participation programme
Employees of Zurich Airport Ltd. who have completed their first year of service receive one share free of charge as a one-off payment in kind. In the 2025 financial year, 247 shares (previous year: 260 shares) worth CHF 0.1 million (previous year: CHF 0.1 million) were handed out.
