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28-Aug-2014 1:44 PM

Zurich Airport EBITDA down 2% in 1H2014 but expects FY results to be higher, predicts 1% pax growth

Switzerland's Zurich Airport revenue down 3% - financial highlights for six months ended 30-Jun-2014:

  • Revenue: CHF453.7 million (EUR371.5 million), -3.4% year-on-year;
    • Aviation: CHF268.8 million (EUR220.2 million), -6.1%;
    • Non-aviation: CHF184.8 million (EUR151.4 million), +1.0%;
  • EBITDA: EUR240.6 million (EUR197.1 million), -1.9%;
  • Net profit: CHF88.1 million (EUR72.2 million), +775%;
  • Total assets: CHF3749 million (EUR3070 million);
  • Cash and cash equivalents: CHF116.2 million (EUR95.1 million);
  • Total liabilities: CHF1673 million (EUR1370 million). [more - original PR]

*Based on the average conversion rate at EUR1 = CHF1.2211

Zurich Airport: "Flughafen Zürich AG expects passenger growth of 1 % for 2014, which will be boosted in particular by the positive trend in local passengers. Factoring out the extraordinary effect of the previous year and excluding noise-related factors, both earnings before interest, tax, depreciation and amortisation (EBITDA) and earnings before interest and tax (EBIT) are expected to be above the previous year's levels. Investments for 2014 will be in the range of CHF 250 million." Source: Company statement, 27-Aug-2014.

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