8 Property, plant and equipment
(CHF million) | Land | Engineering structures | Buildings | Movables | Projects in progress | Total | ||||||
Cost | ||||||||||||
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 | ||||||
Balance as at 1 January 2025 | 138.1 | 1,834.6 | 4,979.9 | 281.1 | 821.8 | 8,055.5 | ||||||
Additions | 12.3 | 0.0 | 0.0 | 0.5 | 568.9 | 581.7 | ||||||
Disposals | –0.7 | –6.3 | –59.1 | –19.0 | 0.0 | –85.1 | ||||||
Transfer and reclassifications | –1.1 | 53.1 | 104.7 | 23.2 | –198.3 | –18.4 | ||||||
Foreign exchange differences | 0.0 | 0.0 | –0.7 | –0.2 | –81.5 | –82.4 | ||||||
Balance as at 31 December 2025 | 148.6 | 1,881.4 | 5,024.8 | 285.6 | 1,110.9 | 8,451.3 | ||||||
Depreciation and impairment | ||||||||||||
Balance as at 1 January 2024 | 0.0 | –1,102.7 | –3,457.7 | –207.4 | 0.0 | –4,767.8 | ||||||
Depreciation | 0.0 | –66.6 | –148.5 | –16.8 | 0.0 | –231.9 | ||||||
Disposals | 0.0 | 2.1 | 39.0 | 11.2 | 0.0 | 52.3 | ||||||
Transfer and reclassifications | 0.0 | 0.0 | –0.2 | 0.2 | 0.0 | 0.0 | ||||||
Foreign exchange differences | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||
Balance as at 31 December 2024 | 0.0 | –1,167.2 | –3,567.4 | –212.8 | 0.0 | –4,947.4 | ||||||
Balance as at 1 January 2025 | 0.0 | –1,167.2 | –3,567.4 | –212.8 | 0.0 | –4,947.4 | ||||||
Depreciation | 0.0 | –68.8 | –152.5 | –18.3 | 0.0 | –239.6 | ||||||
Disposals | 0.0 | 6.3 | 54.6 | 18.8 | 0.0 | 79.7 | ||||||
Transfer and reclassifications | 0.0 | 0.0 | 9.9 | 0.0 | 0.0 | 9.9 | ||||||
Foreign exchange differences | 0.0 | 0.0 | 0.2 | 0.1 | 0.0 | 0.3 | ||||||
Balance as at 31 December 2025 | 0.0 | –1,229.7 | –3,655.2 | –212.2 | 0.0 | –5,097.1 | ||||||
Investment subsidies and grants | ||||||||||||
Balance as at 1 January 2024 | 0.0 | –6.7 | –3.5 | –0.3 | –0.5 | –11.0 | ||||||
Additions | 0.0 | 0.0 | 0.0 | 0.0 | –1.1 | –1.1 | ||||||
Reversals | 0.0 | 0.8 | 0.4 | 0.1 | 0.0 | 1.3 | ||||||
Transfers | 0.0 | 0.0 | –0.7 | 0.0 | 0.7 | 0.0 | ||||||
Balance as at 31 December 2024 | 0.0 | –5.9 | –3.8 | –0.2 | –0.9 | –10.8 | ||||||
Balance as at 1 January 2025 | 0.0 | –5.9 | –3.8 | –0.2 | –0.9 | –10.8 | ||||||
Additions | 0.0 | 0.0 | 0.0 | 0.0 | –4.0 | –4.0 | ||||||
Reversals | 0.0 | 0.5 | 0.6 | 0.1 | 0.0 | 1.2 | ||||||
Transfers | 0.0 | 0.0 | –2.6 | –0.2 | 2.8 | 0.0 | ||||||
Balance as at 31 December 2025 | 0.0 | –5.4 | –5.8 | –0.3 | –2.1 | –13.6 | ||||||
Net carrying amount as at 31 December 2024 | 138.1 | 661.5 | 1,408.7 | 68.1 | 820.9 | 3,097.3 | ||||||
Net carrying amount as at 31 December 2025 | 148.6 | 646.3 | 1,363.8 | 73.1 | 1,108.8 | 3,340.6 |
Projects in progress
In the past financial year, the Zurich Airport Group invested a total of CHF 568.9 million in projects in progress (previous year: CHF 506.4 million). The largest investments at Zurich Airport are attributable to the following projects:
- Work in preparation for the development of the main airport complex (CHF 99.0 million)
- Expansion and refurbishment of the baggage sorting system (CHF 36.5 million)
- Development of the landside passenger zones (CHF 36.3 million)
Capitalised development, planning and implementation costs relating to the construction and operation of Noida International Airport in New Delhi, India, amounted to CHF 203.7 million in the reporting year (previous year: CHF 195.2 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 –239.6 million was offset against reversals of investment subsidies and grants of CHF 1.2 million.
