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Zurich airport: revenue increased, profit fell

The airport of Zurich has benefited in the last fiscal year from the record-high passenger traffic and sales significantly increased. The profit was because of special effects, deeper.

The sales of the Zurich airport in the past year rose 11.2 percent to EUR 1.153 billion Swiss francs, as the airport operator announced on Tuesday. In the airline business, revenues increased by 5.2 percent to 657 million Swiss francs.

strong growth of 20.2 percent to 496 million Swiss francs was recorded in the Non-aviation business, which includes, besides the commercial activities, income from the Parking garages and the international business.

special effects detract from profit

The development in earnings was due to special effects with the growth in sales. The operating profit at the Ebitda level fell by 3.2 percent to 571 million. The bottom line, net income fell by 17 per cent to 238 million francs.

This is the airport led to an increase in provisions for noise protection measures, as well as a special gain from the sale of an investment in the year 2017. Excluding the special effects in 2018, would have resulted in a profit growth of 13.3 percent.

in Total, to the shareholders of 6.90 Swiss francs dividend per share of 6.50 Swiss francs in the previous year.

the Figures provided the airport has not met the expectations of analysts profit. The AWP consensus for the sales amounted to 1,142 billion Swiss francs, Ebitda at 589 million and the net profit of 246 million. A positive effect of the increased dividend was a surprise, however.

Further passenger growth expected

in January, the airport announced its passenger for 2018. The year was completed with a new record of 31.1 million passengers. The 5.8 percent more than in the previous year. In the first two months of the current year a further increase of 4.7 percent resulted.

Also in the total year 2019, the passenger is expected to increase steadily, albeit at a more leisurely pace. The passenger growth is expected at around 3 percent.

excluding special items operating profit Ebitda level is expected to be slightly up on the previous year and of the profit of around 5 percent higher. The total investment for the current year, the airport is estimated to be 350 to 400 million, with 140 million on the major project "The Circle" should be omitted. (sda)

Created: 12.03.2019, 08:06 PM

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