5 Right-of-use assets
The Zurich Airport Group as lessee
|
|
|
|
|
|
|
|
|
(CHF million) |
|
Land |
|
Real estate |
|
Total right-of-use assets |
|
Cost |
|
|
|
|
|
|
|
Balance as at 1 January 2025 |
|
72.0 |
|
111.6 |
|
183.6 |
|
Additions |
|
0.0 |
|
3.3 |
|
3.3 |
|
Disposals |
|
0.0 |
|
–42.0 |
|
–42.0 |
|
Foreign exchange differences |
|
–8.8 |
|
0.0 |
|
–8.8 |
|
Balance as at 30 June 2025 |
|
63.2 |
|
72.9 |
|
136.1 |
|
|
|
|
|
|
|
|
|
Depreciation and impairment |
|
|
|
|
|
|
|
Balance as at 1 January 2025 |
|
–5.8 |
|
–44.9 |
|
–50.7 |
|
Depreciation |
|
0.0 |
|
–4.0 |
|
–4.0 |
|
Disposals |
|
0.0 |
|
23.7 |
|
23.7 |
|
Transfer and reclassifications |
|
–0.9 |
|
0.0 |
|
–0.9 |
|
Foreign exchange differences |
|
0.8 |
|
0.0 |
|
0.8 |
|
Balance as at 30 June 2025 |
|
–5.9 |
|
–25.2 |
|
–31.1 |
|
|
|
|
|
|
|
|
|
Net carrying amount as at 1 January 2025 |
|
66.2 |
|
66.7 |
|
132.9 |
|
Net carrying amount as at 30 June 2025 |
|
57.3 |
|
47.7 |
|
105.0 |
Via its operator Yamuna International Airport Private Limited, the Zurich Airport Group holds the right-of-use asset relating to the land on which Noida International Airport, New Delhi, India, is being developed and where it will operate in future. The right-of-use asset with a present value of CHF 57.3 million will expire at the end of the concession in 2061. The corresponding lease liabilities of CHF 87.4 million were recognised as non-current financial liabilities (see note 9, Financial liabilities) (commencement of payments as of 2031).
With the acquisition of the Radisson Blu building (see note 6, Investment property), the previously recognised right-of-use asset (acquisition cost of CHF 42.0 million and accumulated depreciation of CHF 23.7 million) held by Zurich Airport Ltd. for the premises in the relevant building ceased to apply.
