Flughafen Zurich Ag · SIX:FHZN
Flughafen Zurich — FY2017 Earnings Presentation
33 slides from Flughafen Zurich's earnings presentation, Mar 2, 2018
Slide 1: 2017 Full Year Financial Results
2017 FULL YEAR FINANCIAL RESULTS PRESENTATION TO INVESTORS & ANALYSTS Stephan Widrig Lukas Brosi Chief Executive Officer Chief Financial Officer | | © Flughafen Zürich AG
Slide 2: Schedule
SCHEDULE 1. Business Update 2. Financial performance 3. Outlook 4. Q&A 2 | 02/03/2018 | 2017 full year financial results © Flughafen Zürich AG
Slide 3: 1. Business Update
1. BUSINESS UPDATE | | © Flughafen Zürich AG
Slide 4: Review
REVIEW • rising passenger volumes • stable flight operations • successful commercial centers & parking • strategic growth on track • good progress in marketing for THE CIRCLE • new concessions in international business | | © Flughafen Zürich AG
Slide 5: Traffic Figures
TRAFFIC FIGURES Jan-Dec 2017 Jan-Dec 2016 ∆ (in %) in million Local passengers 21.0 20.0 █████ + 5.3% Transfer passengers 8.3 7.6 ███████ + 8.8% Transfer share (in %) 28.3 27.6 n/a Total passengers 29.4 27.7 ██████ + 6.3% Movements (in 1'000) 270.5 269.2 █ + 0.5% whereof line & charter movements 236
Slide 6: Timetable Highlights
TIMETABLE HIGHLIGHTS current winter timetable 2017/18 Wroclaw year-round service with 3 flights per week Orlando year-round service to Orlando with 1-weekly flight beside its summer operation, Icelandair is now offering 2-weekly Reykjavik flights during winter since January 22, the Belgian carrier i
Slide 7: Key Figures Commercial Business
KEY FIGURES COMMERCIAL BUSINESS total airside commercial area ~14’200sqm total landside commercial area ~19’000sqm 7 | 02/03/2018 | 2017 full year financial results © Flughafen Zürich AG
Slide 8: Extended Offering for Parking
EXTENDED OFFERING FOR PARKING • modernization and expansion of parking 6 completed • Erfreuliche Umsatzentwicklung in anspruchsvollem • strengthening Umfeld of digital offering insbesondere im luftseitigen 300 transactions per day Bereich Gastronomie approx. CHF 120 per online booking hochp
Slide 9: THE CIRCLE on Track
THE CIRCLE ON TRACK • completion of construction end of 2019 • opening main area in H1/2020 (north wing opening in H2/2020) • total investment forecast FZAG: CHF 600m including tenant fit-out | | © Flughafen Zürich AG
Slide 10: Promising Prelettmg
PROMISING PRELETTING USZ Hyatt Regency Abraxas THE PARK Sablier Convention Center Microsoft Hyatt Place FZAG Spaces | | © Flughafen Zürich AG
Slide 11: Established International Airport Operator
ESTABLISHED INTERNATIONAL AIRPORT OPERATOR We successfully leverage our partners‘ know-how with our own best-practice experience for mutual value creation. Kazakhstan, completed project Casablanca, completed project Japan Vietnam Curaçao, O&M, shareholding Philippines Bangalore, Bogotá, completed pr
Slide 12: 2. Financial Performance
2. FINANCIAL PERFORMANCE | | © Flughafen Zürich AG
Slide 13: Financial Key Figures Including Noise
FINANCIAL KEY FIGURES INCLUDING NOISE Jan-Dec 2017* Jan-Dec 2017 Jan-Dec 2016* ∆ (in %) in million CHF Aviation revenue 624.2 624.2 620.4 + 0.6% Non-aviation revenue 412.9 412.9 392.4 █████ + 5.2% Revenue 1'037.1 1'037.1 1'012.8 ██ + 2.4% EBITDA 578.8 583.6 568.1 █ + 1.9% EBITDA margin (in %) 55.8 5
Slide 14: Financial Key Figures Excluding Noise
FINANCIAL KEY FIGURES EXCLUDING NOISE Jan-Dec 2017* Jan-Dec 2017 Jan-Dec 2016* ∆ (in %) in million CHF Aviation revenue 612.7 612.7 608.7 + 0.7% Non-aviation revenue 412.9 412.9 392.4 ███ + 5.2% Revenue 1'025.6 1'025.6 1'001.1 █ + 2.4% EBITDA 570.8 575.6 559.9 █ + 1.9% EBITDA margin (in %) 55.7 56.1
Slide 15: Aviation
AVIATION | | © Flughafen Zürich AG
Slide 16: Aviation Segment Revenue Breakdown
AVIATION SEGMENT REVENUE BREAKDOWN Jan-Dec 2017 Jan-Dec 2016 ∆ (in %) in million CHF 1 Passenger related operations charges 419.3 421.9 -0.6% 2 Landing charges 82.6 91.0 -9.2% ████ Aircraft-related noise charges 11.6 11.7 -1.0% █ Emission charges 3.8 3.7 ███ + 3.9% 2 Parking charges 25.1 13.2 n/a Fr
Slide 17: Non-Aviation
NON-AVIATION | | © Flughafen Zürich AG
Slide 18: Non-Aviation Segment Revenue Breakdown
NON-AVIATION SEGMENT REVENUE BREAKDOWN Jan-Dec 2017 Jan-Dec 2016 ∆ (in %) in million CHF Retail, tax & duty free 102.1 96.5 █████ + 5.9% 1 Food & beverage operations 17.5 16.7 ████ + 4.9% 2 Revenue from multi-storey car parks 79.4 75.4 █████ + 5.4% Other commercial revenue 35.2 32.2 ████████ + 9.4%
Slide 19: OPEX & Other Key Figures
OPEX & OTHER KEY FIGURES | | © Flughafen Zürich AG
Slide 20: Operating Expenses
OPERATING EXPENSES Jan-Dez 2017* Jan-Dez 2017 Jan-Dez 2016* ∆ (in %) in million CHF 1 Personnel expenses 201.5 201.5 196.6 █ + 2.5% 2 Police and security 119.6 119.6 118.3 + 1.2% Energy and waste 18.8 18.8 18.5 █ + 1.9% 1 Maintenance and material 38.0 38.0 35.2 █████ + 8.0% Other operating expenses
Slide 21: Development of EBITDA (incl. Noise)
DEVELOPMENT OF EBITDA (INCL. NOISE) +1.9% 21 | 02/03/2018 | 2017 full year financial results © Flughafen Zürich AG
Slide 22: Key Figures
KEY FIGURES incl. noise excl. noise Jan-Dec 2017* Jan-Dec 2016* Jan-Dec 2017* Jan-Dec 2016* in million CHF EBITDA 578.8 568.1 570.8 559.9 EBITDA margin (in %) 55.8 56.1 55.7 55.9 Depreciation and amortization -243.7 -241.5 -238.4 -235.9 EBIT 335.1 326.6 332.3 324.1 EBIT margin (in %) 32.3 32.2 32.4
Slide 23: Investments
INVESTMENTS Investments per December 31, 2017 (in million CHF) 2018 planned investment costs for largest projects 1 THE CIRCLE (51%) 92.1 2 additional stands 31.0 3 upgrade Zone A 21.9 4 refurbishment P1 8.9 THE CIRCLE additional stands CHF ~140 million CHF ~20 million 5 adoption airport center 4.0
Slide 24: 3. Outlook
3. OUTLOOK | | © Flughafen Zürich AG
Slide 25: Guidance
GUIDANCE 2017 figures Guidance 2018 (excl. one-offs) PAX 29.4 million 3.5% to 4% higher aviation revenues corresponding to PAX growth increasing commercial revenues Revenues CHF 1’034m increasing international revenues (total CHF 40-45m) concession accounting (mid double-digit million amount) increa
Slide 26: Capex Roadmap
CAPEX ROADMAP period 2018 – 2020 period 2021-2026 high visibility medium visibility • CHF 300-350 million p.a. • CHF ~300 million p.a. • whereof regulated: ~40% • whereof regulated: ~60% • whereof maintenance: • whereof maintenance: CHF 100-130 million p.a. CHF 100-130 million p.a. • core projects:
Slide 27: 4. Q&A
4. Q&A Roadshow London (Kempen) March 6, 2018 Roadshow Madrid (Santander) March 14, 2018 Roadshow Frankfurt (Vontobel) March 15, 2018 UBS Sector Trip (ZRH) March 23, 2018 Swiss Seminar Zurich (Kepler) March 23, 2018 Santander Infra Tour (ZRH) April 10, 2018 General Shareholder Assembly 2018 April 19
Slide 28: IR Contacts
IR CONTACTS Lukas Brosi Chief Financial Officer investor.relations@zurich-airport.com Stefan Weber Head Investor Relations +41 (0)43 816 27 15 investor.relations@zurich-airport.com 28 | 02/03/2018 | 2017 full year financial results © Flughafen Zürich AG
Slide 29: Disclaimer
DISCLAIMER This document has been prepared by Flughafen Zürich AG for use in this presentation. The information contained in this document has not been independently verified. No representation or warranty – whether express or implied – is made as to, and no reliance should be placed on, the fairnes
Slide 30: Passenger Development
PASSENGER DEVELOPMENT Worldwide 2017 from/to ZRH +6.3% global market +6.4% North America 2017 market share ZRH 8.1% Middle East 2017 from/to ZRH +3.6% market share ZRH 5.4% global market +3.5% from/to ZRH +8.2% global market +4.7% Far East 2017 market share ZRH 7.1% Latin America 2017 from/to ZRH +1
Slide 31: FY2017 Alliance Shares ZRH
FY2017 ALLIANCE SHARES ZRH Source: ZRH data warehouse, 2017 31 | 02/03/2018 | 2017 full year financial results © Flughafen Zürich AG
Slide 32: Star Alliance Hubs Passenger Development
STAR ALLIANCE HUBS PASSENGER DEVELOPMENT 25% 2017 20% 15% 10% 5% 0% -5% -10% -15% -20% -25% -30% -35% BRU CPH -40% FRA MUC -45% VIE ZRH -50% Source: ZRH data warehouse, 2017 32 | 02/03/2018 | 2017 full year financial results © Flughafen Zürich AG
Slide 33: Key Indicators
KEY INDICATORS Source: ZRH data warehouse, 2017 33 | 02/03/2018 | 2017 full year financial results © Flughafen Zürich AG