Worldreginfo - A93ba057-Fec5-4C21-A8fd-2B338c5c9e30 SIGNIFICANT EVENTS 2016
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ANNUAL REPORT OF FLUGHAFEN ZÜRICH AG 2016 WorldReginfo - a93ba057-fec5-4c21-a8fd-2b338c5c9e30 SIGNIFICANT EVENTS 2016 29 JANUARY 1 / 15 JUNE Triple Seven and new lounge for Swiss International Air Lines New curbside lanes at Zurich Airport commissioned Home carrier SWISS received the first of ten Boeing 777-300ERs The renovated, upgraded curbside lanes on the departures and as part of the renewal of its long-haul fleet. At the same time, arrivals level were reopened step by step following a construction SWISS opened a new lounge complex covering over 3,300 m² in period of around three years. Dock E. 25 / 26 JUNE AND 10 / 11 SEPTEMBER Two airport experience weekends at Zurich Airport Zurich Airport invited visitors to its first-ever airport experience weekends. The largely free events for the public were a success, with some 24,000 visitors on both weekends. 25 FEBRUARY LUPO: Zurich Airport to retain its capacity for development The Confederation’s new report on aviation policy is published. Zurich Airport must retain its capacity for development and be able to do so in line with economic demand. 1 JULY 24 MARCH First commercial flight for the Bombardier C Series Another award for freight handling The first Bombardier CS100 from the SWISS fleet landed in Zurich. Zurich Airport was presented with the Air Cargo Excellence The new aircraft, which is setting new environmental standards, Award 2016 for its freight performance. It took first place once took its first-ever commercial flight on 15 July. again in the “Airports Europe – Up to 399,999 Tonnes” category. 4 JULY 1 APRIL Start of construction work in Zone West Management Board complete again Construction work for the development of Zone West began. The Two experienced and recognised leaders joined the Management aim is to expand the apron areas in the western part of the airport Board: Stefan Gross (on 1 February) and Daniel Scheifele. premises. 18 APRIL 17 JULY Indian investment sold Passenger record: Zurich Airport handles over Flughafen Zürich AG signs an agreement to sell its 5 % stake in 100,000 passengers on one day for the first time Bangalore International Airport Ltd. for USD 48.9 million. The This new record number was exceeded again on another six days. sale is set to be completed in the first quarter of 2017. WorldReginfo - a93ba057-fec5-4c21-a8fd-2b338c5c9e30 22 JULY 27 SEPTEMBER South-side sound insulation concept implemented Sectoral Aviation Infrastructure Plan (SAIP) solves current Flughafen Zürich AG launched a two-year concept aimed at pro- problems, but does not take long-term perspectives into account tecting local residents from being woken by morning southern The Federal Office of Civil Aviation (FOCA) submitted a draft of approaches. the revised Sectoral Aviation Infrastructure Plan (SAIP2) for con- sultation. The plan solves important current issues, but does not offer any solutions on how to handle the expected increase in 25 JULY demand. New contract with duty free provider Dufry AG Flughafen Zürich AG extended the contract with its long-standing 6 DECEMBER partner Dufry AG to 2028, ahead of schedule. New terminal in Belo Horizonte, Brazil The new 600-metre-long terminal with 17 passenger loading 24 AUGUST bridges opened in Belo Horizonte, Brazil. Second construction phase of “The Circle” launched Flughafen Zürich AG and co-owner Swiss Life AG decided to initi- ate the second construction phase of “The Circle”. Both phases will therefore be implemented simultaneously. 14 DECEMBER Jelmoli new anchor tenant at Zurich Airport Jelmoli opted for Zurich Airport as its second business location. Flughafen Zürich AG concluded a contract with Jelmoli for three 1 SEPTEMBER stores at Zurich Airport – including one in the brand houses of New airport charges “The Circle”. The new, lower airport charges took effect. These will apply for four years. 20 DECEMBER Extension of car park P6 completed 5 SEPTEMBER Car park P6, which has seen ongoing renovation and extension Popular initiative “Give people the vote on works over several years, opened for operation. It offers a total of runway modifications!” 7,500 parking spaces. Favourable ruling on the popular initiative “Give people the vote on runway modifications!” – the Cantonal Parliament ruled that a 31 DECEMBER referendum is now possible, even if it rejects a request for a possi- ble future runway extension. More than 27 million passengers for the first time A new passenger record: in 2016, 27.7 million passengers passed through Zurich Airport. 6 SEPTEMBER Zurich Airport once again Europe’s leading airport For the thirteenth time in succession, Zurich Airport received the prestigious World Travel Award for its customer-friendliness and general fulfilment of quality standards. 8 SEPTEMBER Arrestor system at the end of runway 28 The construction of the Engineered Materials Arresting System (EMAS) at the end of runway 28 was completed. Various noise control measures were implemented in order to minimise the im- pact on local residents. WorldReginfo - a93ba057-fec5-4c21-a8fd-2b338c5c9e30 KEY DATA (CHF 1,000) 2012 2013 2014 2015 2016 Total revenue 948,820 975,094 963,479 988,973 1,012,804 of which aviation revenue 596,411 601,437 574,959 597,389 620,402 of which non-aviation revenue 352,409 373,657 388,520 391,584 392,402 Operating expenses ¬ 558,143 ¬ 448,381 ¬ 439,981 ¬ 486,157 ¬ 434,000 Earnings before interest, tax, depreciation and amortisation (EBITDA) 390,677 526,713 523,498 502,816 578,804 EBITDA margin (in %) 41.2 54.0 54.3 50.8 57.1 Earnings before interest and tax (EBIT) 171,936 302,003 294,622 274,644 337,350 EBIT margin (in %) 18.1 31.0 30.6 27.8 33.3 Profit 94,732 137,052 205,921 179,807 248,018 Cash flow from operating activities 439,920 458,993 460,726 456,177 471,869 Cash flow from investing activities ¬ 185,046 ¬ 171,239 ¬ 220,401 ¬ 119,524 ¬ 167,482 Invested capital as at reporting date 1) 3,383,681 3,413,507 3,200,107 3,186,427 3,215,677 Average invested capital 1) 3,298,117 3,398,594 3,306,807 3,193,267 3,201,052 Return on average invested capital (ROIC in %) 4.1 7.1 7.1 6.8 8.4 Equity as at reporting date 1,859,803 2,051,618 2,140,522 2,212,437 2,260,149 Return on equity (in %) 5.2 7.0 9.8 8.3 11.1 Equity ratio (in %) 45.7 50.5 53.6 54.7 55.6 Interest-bearing liabilities (net) 2) 826,230 692,758 372,202 174,683 102,020 Interest-bearing liabilities (net) / EBITDA 2.11x 1.32x 0.71x 0.35x 0.18x Key operational data Number of passengers 24,802,400 24,865,138 25,477,622 26,281,228 27,666,428 Number of flight movements 270,027 262,227 264,970 265,095 269,160 Freight (in tonnes) 418,751 415,362 429,830 411,780 433,577 Number of full-time positions as at reporting date 3) 1,365 1,478 1,450 1,474 1,523 Number of employees as at reporting date 3) 1,615 1,736 1,707 1,721 1,773 Key data for shareholders of Flughafen Zürich AG 4) Number of issued shares 30,701,875 30,701,875 30,701,875 30,701,875 30,701,875 Ordinary dividend per share (in CHF) 1.90 2.00 2.70 3.00 3.20 Payout ratio (in %) 5) 61.6 44.8 40.3 51.2 39.6 Additional dividend per share (in CHF) n/a n/a n/a 3.20 3.20 Equity per share (in CHF) 60.58 66.82 69.72 72.06 73.62 Basic earnings per share (in CHF) 3.10 4.47 6.71 5.85 8.07 Diluted earnings per share (in CHF) 3.10 4.47 6.70 5.85 8.07 1) Invested capital includes equity, interest-bearing debt (and until 2014 the fair values of the hedging instruments). 2) Interest-bearing liabilities (net) include interest-bearing debt (and until 2014 the fair values of hedging instruments) less cash and cash equivalents, interest-bearing current and non-current financial assets and fixed-term deposits. 3) From 2013 including employees of the consolidated A-port Operaciones S.A. and its subsidiaries. 4) A 5-for-1 share split was implemented on 6 May 2016. For the purpose of comparison, the previous year’s figures have been adjusted accordingly. 5) Additional dividend from capital contribution reserves not included. SHARE PRICE TREND (in CHF) Flughafen Zürich AG / Registered share / Swiss Sec. No. 31941693 / Reuters FHZN.S / SIX Symbol FHZN 188.90 210 190 150.70 170 133.30 150 130 104.30 110 84.60 90 65.20 70 50 31.12.2011 31.12.2012 31.12.2013 31.12.2014 31.12.2015 31.12.2016 FHZN SPI indexed WorldReginfo - a93ba057-fec5-4c21-a8fd-2b338c5c9e30 KEY DATA EXCLUDING THE INFLUENCE OF AIRCRAFT NOISE Flughafen Zürich AG refinances all costs relating to aircraft noise As the consolidated financial statements of Flughafen Zürich AG through noise charges based on the costs-by-cause principle. include noise charges, noise-related expenses and noise-related There is a specified purpose for these noise charges, and any sur- items in the balance sheet, key figures are also stated excluding plus, after all noise-related expenses have been paid, is to be the influence of aircraft noise for the shareholders. In the long repaid and does not belong to the owners of Flughafen Zürich AG.