Flughafen Zurich Ag · SIX:FHZN

Flughafen Zurich — H1 2015 Earnings Presentation

39 slides from Flughafen Zurich's earnings presentation, Sep 3, 2015

Slide 1: 2015 half year financial results
2015 half year financial results Presentation to investors & analysts Stephan Widrig Daniel Schmucki Chief Executive Officer Chief Financial Officer Zurich | Airport | 03/09/2015 | © Flughafen Zürich AG
Slide 2: Schedule
Schedule 1. Major events HY2015 3 2. Half year financial performance 8 i. Key data ii. Aviation iii. Non-Aviation iv. OPEX and other key figures v. Outlook 3. Business update 24 4. Q&A 32 2 | 03/09/2015 | 2015 half year financial results © Flughafen Zürich AG
Slide 3: 1. Major events HY2015
1. Major events HY2015 3 | 03/09/2015 | 2015 half year financial results © Flughafen Zürich AG
Slide 4: Solid operating performance
Solid operating performance • Higher aviation and non-aviation revenue • Solid operating performance characterized by two one-off effects • establishment of the co-ownership structure «The Circle» + CHF 34.6 million • provision for extended sound insulation program - CHF 97.1 million • net effect (p
Slide 5: Retail business impacted by strong CHF
Retail business impacted by strong CHF vs. previous year 5 | 03/09/2015 | 2015 half year financial results © Flughafen Zürich AG
Slide 6: Agreement on charges signed with complainants
Agreement on charges signed with complainants Decision by the Swiss Federal Administrative Court (June 25, 2015) • no appeals by neither Flughafen Zürich AG nor the complainants • decision legally valid: WACC, terminal cost allocation Favorable circumstances • positive local passenger development •
Slide 7: Other events in HY2015
Other events in HY2015 • Standard & Poor's raises rating to A+ • Governance: Canton of Zurich appoints three new members of the board Eveline Saupper Vincent Albers Carmen Walker Späh 7 | 03/09/2015 | 2015 half year financial results © Flughafen Zürich AG
Slide 8: 2. Half year financial performance
2. Half year financial performance 8 | 03/09/2015 | 2015 half year financial results © Flughafen Zürich AG
Slide 9: Half year traffic figures
Half year traffic figures Jan-Jun 2015 Jan-Jun 2014 ∆ (in %) in million Local passengers 8.7 8.1 ██████ + 6.9% Transfer passengers 3.5 3.7 -6.3% ██████ Transfer share (in %) 28.7 31.4 -8.6% ████████ Total passengers 12.2 11.9 ██ + 2.7% Movements (in 1'000) 128.3 128.3 + 0.0% whereof line & charter m
Slide 10: Financial key figures including noise
Financial key figures including noise Jan-Jun 2015 Jan-Jun 2015* Jan-Jun 2014 ∆ (in %) in million CHF Aviation revenue 279.0 279.0 268.8 ████ + 3.8% Non-aviation revenue 189.7 189.7 184.8 ██ + 2.6% Revenue 468.7 468.7 453.7 ███ + 3.3% EBITDA 187.3 249.8 240.6 n/a EBITDA margin (in %) 40.0 53.3 53.0
Slide 11: Financial key figures excluding noise
Financial key figures excluding noise Jan-Jun 2015 Jan-Jun 2015* Jan-Jun 2014 ∆ (in %) in million CHF Aviation revenue 273.8 273.8 263.2 ████ + 4.0% Non-aviation revenue 189.7 189.7 184.8 ██ + 2.6% Revenue 463.5 463.5 448.0 ███ + 3.4% EBITDA 280.9 246.3 236.8 n/a EBITDA margin (in %) 60.6 53.1 52.9
Slide 13: Aviation segment revenue breakdown
Aviation segment revenue breakdown Jan-Jun 2015 Jan-Jun 2014 ∆ (in %) in million CHF 1 Passenger & security charges 184.0 176.3 ████ + 4.4% PRM charges 5.4 5.3 ██ + 2.7% Passenger-related noise charges 0.0 2.0 n/a Landing charges 42.7 42.2 █ + 1.4% 2 Aircraft-related noise charges 5.2 3.7 ██████ + 4
Slide 15: Non-aviation segment revenue breakdown
Non-aviation segment revenue breakdown Jan-Jun 2015 Jan-Jun 2014 ∆ (in %) in million CHF Retail, tax & duty free 44.4 45.0 -1.4% █ 1 Food & beverage operations 7.7 7.2 ██████ + 6.3% 2 Revenue from multi-storey car parks 36.0 34.9 ███ + 3.3% Other commercial revenue 15.3 14.6 ████ + 4.8% Total commer
Slide 16: Key figures commercial business
Key figures commercial business total landside commercial area ~19’000 sqm total airside commercial area ~14’200 sqm spend / dep. PAX CHF 41.50 45% 55% 16 | 03/09/2015 | 2015 half year financial results © Flughafen Zürich AG
Slide 17: OPEX & other key figures
OPEX & other key figures 17 | 03/09/2015 | 2015 half year financial results © Flughafen Zürich AG
Slide 18: Operating expenses
Operating expenses Jan-Jun 2015 Jan-Jun 2014 ∆ (in %) in million CHF Personnel expenses 92.3 88.8 ███ + 4.0% Police and security 58.7 59.4 -1.1% █ Energy and waste 11.3 10.1 ███████ + 11.9% Maintenance and material 19.6 18.6 █████ + 5.4% Other operating expenses 25.3 25.9 -2.1% ██ Sales, marketing,
Slide 19: Key figures
Key figures Jan-Jun 2015* Jan-Jun 2014 Jan-Jun 2015* Jan-Jun 2014 in million CHF EBITDA 249.8 240.6 246.3 236.8 EBITDA margin (in %) 53.3 53.0 53.1 52.9 Depreciation and amortization -113.1 -112.9 -110.3 -109.1 EBIT 136.7 127.7 136.0 127.7 EBIT margin (in %) 29.2 28.1 29.3 28.5 Finance result (net)
Slide 20: Segment report (in million CHF)
Segment report (in million CHF) Regulated business Non-regulated business ROIC HY 2015 excl. one-off effect «The Circle» : 15.4% based on results of the 12-month period preceding the reporting date 20 | 03/09/2015 | 2015 half year financial results © Flughafen Zürich AG
Slide 22: Year-to-date traffic & commercial figures
Year-to-date traffic & commercial figures Jan-Jul 2015 Jan-Jul 2014 ∆ (in %) in million Local passengers 10.6 9.9 ███████ + 7.2% Transfer passengers 4.2 4.4 -5.5% █████ Transfer share (in %) 28.3 30.9 -8.4% ████████ Total passengers 14.9 14.4 ███ + 3.2% Movements (in 1'000) 153.3 152.8 + 0.3% whereo
Slide 23: Guidance 2015: update
Guidance 2015: update The guidance is excluding the one-off effects from «The Circle» and the extended sound insulation program. PAX 2.5-3% higher (ex 1-2%) Revenue in line with PAX growth Aviation disproportionately higher to PAX growth due to favorable passenger mix Non-aviation slightly lower OPE
Slide 25: Investments
Investments Investments per June 30, 2015 2015 planned investment costs for largest projects (in million CHF) 1 Upgrade terminal 2 21.4 2 «The Circle» (51%) 16.0 3 Expansion parking 10.4 Various maintenance 4 9.6 projects in real estate 5 Redesign curbside lanes 4.4 «The Circle» Upgrade T2 Implement
Slide 26: SWISS fleet (2016-2018): ~20% additional capacity
SWISS fleet (2016-2018): ~20% additional capacity short-haul 20 Avro RJ100 30 CSeries 100 ~25% seat upside long-haul 9/15 A340-300 9 B777-300ER ~50% seat upside 26 | 03/09/2015 | 2015 half year financial results © Flughafen Zürich AG
Slide 27: Timetable highlights
Timetable highlights Current summer timetable 2015 (since March 29, 2015) Dresden, Graz, Leipzig, new daily services; Ljubljana, Zagreb 17 additional new services several times per week Hong Kong daily service Antalya, Tenerife, Palma, additional services Larnaca daily flights with B787 instead of A
Slide 28: Three different centers at the airport
Three different centers at the airport Airside Center Check-in Security check Airport Center Landside Airport traffic Center The Circle 28 | 03/09/2015 | 2015 half year financial results © Flughafen Zürich AG
Slide 29: «The Circle» is under construction!
«The Circle» is under construction! 29 | 03/09/2015 | 2015 half year financial results © Flughafen Zürich AG
Slide 30: «The Circle» at Zurich Airport
«The Circle» at Zurich Airport Milestones • selection of total contractor • façade construction awarded Timeline • demolition work already concluded • construction work will commence in fall • first parts of the building will be visible as of 2016 Marketing • focus on anchor tenant office segment •
Slide 31: Strategy of international airport activities
Strategy of international airport activities Motivation Strategic growth pillar to promote the company’s long-term growth and improve the quality of earnings through diversification. Investment scope Focus - investments combined with operational support contracts where we can invest our acknowledged
Slide 32: 4. Q&A
4. Q&A Roadshow Madrid (Kepler Cheuvreux) Thursday, September 10, 2015 Roadshow Frankfurt (Bank Vontobel) Wednesday, September 16, 2015 Roadshow Zurich (Credit Suisse) Friday, September 18, 2015 Roadshow London (UBS) Wednesday, September 30, 2015 Roadshow US/Canada (Royal Bank of Canada) Winter 2015
Slide 33: IR contacts
IR contacts Lukas Brosi Head Financial Services +41 (0)43 816 72 91 investor.relations@zurich-airport.com Stefan Weber Investor Relations & Treasury +41 (0)43 816 27 15 investor.relations@zurich-airport.com 33 | 03/09/2015 | 2015 half year financial results © Flughafen Zürich AG
Slide 34: 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 35: Passenger development
Passenger development Worldwide HY 2015 from/to ZRH +2.7% global market +5.7% North America HY 2015 market share ZRH 8.0% Middle East HY 2015 from/to ZRH -0.5% market share ZRH 5.3% global market +4.6% from/to ZRH +6.2% global market +8.8% Far East HY 2015 market share ZRH 7.0% Latin America HY 2015
Slide 36: Financial liabilities (per June 30, 2015)
Financial liabilities (per June 30, 2015) 36 | 03/09/2015 | 2015 half year financial results © Flughafen Zürich AG
Slide 37: Customer segments ZRH HY2015
Customer segments ZRH HY2015 37 | 03/09/2015 | 2015 half year financial results © Flughafen Zürich AG
Slide 38: Star Alliance hubs (Jan 2015 – Jun 2015)
Star Alliance hubs (Jan 2015 – Jun 2015) 38 | 03/09/2015 | 2015 half year financial results © Flughafen Zürich AG

Flughafen Zürich — H1 2015 Earnings Presentation on 6ix

Flughafen Zurich — H1 2015 Earnings Presentation

Slide 1: 2015 half year financial results

Slide 2: Schedule

Slide 3: 1. Major events HY2015

Slide 4: Solid operating performance

Slide 5: Retail business impacted by strong CHF

Slide 6: Agreement on charges signed with complainants

Slide 7: Other events in HY2015

Slide 8: 2. Half year financial performance

Slide 9: Half year traffic figures

Slide 10: Financial key figures including noise

Slide 11: Financial key figures excluding noise

Slide 12: Aviation

Slide 13: Aviation segment revenue breakdown

Slide 14: Non-aviation

Slide 15: Non-aviation segment revenue breakdown

Slide 16: Key figures commercial business

Slide 17: OPEX & other key figures

Slide 18: Operating expenses

Slide 19: Key figures

Slide 20: Segment report (in million CHF)

Slide 21: Outlook

Slide 22: Year-to-date traffic & commercial figures

Slide 23: Guidance 2015: update

Slide 24: 3. Business update

Slide 25: Investments

Slide 26: SWISS fleet (2016-2018): ~20% additional capacity

Slide 27: Timetable highlights

Slide 28: Three different centers at the airport

Slide 29: «The Circle» is under construction!

Slide 30: «The Circle» at Zurich Airport

Slide 31: Strategy of international airport activities

Slide 32: 4. Q&A

Slide 33: IR contacts

Slide 34: Disclaimer

Slide 35: Passenger development

Slide 36: Financial liabilities (per June 30, 2015)

Slide 37: Customer segments ZRH HY2015

Slide 38: Star Alliance hubs (Jan 2015 – Jun 2015)

Slide 39: Key indicators