Flughafen Zurich Ag · SIX:FHZN

Flughafen Zurich — FY2016 Earnings Presentation

35 slides from Flughafen Zurich's earnings presentation, Mar 6, 2017

  1. Slide 1: 2016 Full Year Financial Results

    2016 FULL YEAR FINANCIAL RESULTS PRESENTATION TO INVESTORS & ANALYSTS Stephan Widrig Lukas Brosi Chief Executive Officer Chief Financial Officer | | © Flughafen Zürich AG

  2. Slide 2: Schedule

    SCHEDULE 1. Business Update 2. Financial performance FY2016 3. Outlook 4. Q&A 2 | 06/03/2017 | 2016 full year financial results © Flughafen Zürich AG

  3. Slide 3: 1. Business Update

    1. BUSINESS UPDATE | | © Flughafen Zürich AG

  4. Slide 4: Review Financial Year 2016

    REVIEW FINANCIAL YEAR 2016 • solid business parameters • >27 million PAX • CHF >1 billion revenue • favorable decision of the Swiss Federal Court on noise- related compensation principles • divestment BIAL • new duty free contract with Dufry AG • implementation of new charges • new anchor tenants fo

  5. Slide 5: FY2016 Traffic Figures

    FY2016 TRAFFIC FIGURES Jan-Dec 2016 Jan-Dec 2015 ∆ (in %) in million Local passengers 20.0 18.7 ██████ + 6.5% Transfer passengers 7.6 7.5 ██ + 2.3% Transfer share (in %) 27.6 28.5 -3.2% ███ Total passengers 27.7 26.3 █████ + 5.3% Movements (in 1'000) 269.2 265.1 █ + 1.5% whereof line & charter movem

  6. Slide 6: Key Figures Commercial Business

    KEY FIGURES COMMERCIAL BUSINESS spend / dep. PAX CHF 39.4 total airside commercial area ~14’200sqm total landside commercial area ~19’000sqm 6 | 06/03/2017 | 2016 full year financial results © Flughafen Zürich AG

  7. Slide 7: Private Transportation

    PRIVATE TRANSPORTATION Curbside lanes • quality improvement through new transport and product concepts, by enhanced appearance and new, spacious roof for the drop off zones • opening: June 2016 Expansion parking 6 • 3,500 additional parking spaces (total 7,500) in a central location to cover the cur

  8. Slide 8: «The Circle» on Track

    «THE CIRCLE» ON TRACK | | © Flughafen Zürich AG

  9. Slide 9: New Board Members to Be Appointed

    NEW BOARD MEMBERS TO BE APPOINTED Josef Felder Stephan Gemkow 9 | 06/03/2017 | 2016 full year financial results © Flughafen Zürich AG

  10. Slide 10: 2. Financial Performance FY2016

    2. FINANCIAL PERFORMANCE FY2016 | | © Flughafen Zürich AG

  11. Slide 11: Financial Key Figures Including Noise

    FINANCIAL KEY FIGURES INCLUDING NOISE Jan-Dec 2016* Jan-Dec 2016 Jan-Dec 2015* ∆ (in %) in million CHF Aviation revenue 620.4 620.4 597.4 ██ + 3.9% Non-aviation revenue 392.4 392.4 391.6 + 0.2% Revenue 1'012.8 1'012.8 989.0 █ + 2.4% EBITDA 568.1 578.8 547.5 ██ + 3.8% EBITDA margin (in %) 56.1 57.1 5

  12. Slide 12: Financial Key Figures Excluding Noise

    FINANCIAL KEY FIGURES EXCLUDING NOISE Jan-Dec 2016* Jan-Dec 2016 Jan-Dec 2015* ∆ (in %) in million CHF Aviation revenue 608.7 608.7 586.6 ██ + 3.8% Non-aviation revenue 392.4 392.4 391.6 + 0.2% Revenue 1'001.1 1'001.1 978.2 █ + 2.3% EBITDA 559.9 570.7 539.8 ██ + 3.7% EBITDA margin (in %) 55.9 57.0 5

  13. Slide 13: Aviation

    AVIATION | | © Flughafen Zürich AG

  14. Slide 14: Aviation Segment Revenue Breakdown

    AVIATION SEGMENT REVENUE BREAKDOWN Jan-Dec 2016 Jan-Dec 2015 ∆ (in %) in million CHF 1 Passenger related operations charges 421.9 411.4 ██ + 2.6% 2 Landing charges 91.0 89.4 █ + 1.7% Aircraft-related noise charges 11.7 10.8 █████ + 8.4% Emission charges 3.7 3.3 ███████ + 11.1% 2 Parking charges 13.2

  15. Slide 15: Non-Aviation

    NON-AVIATION | | © Flughafen Zürich AG

  16. Slide 16: Non-Aviation Segment Revenue Breakdown

    NON-AVIATION SEGMENT REVENUE BREAKDOWN Jan-Dec 2016 Jan-Dec 2015 ∆ (in %) in million CHF 1 Retail, tax & duty free 96.5 95.4 █ + 1.1% Food & beverage operations 16.7 16.1 ███ + 3.7% Revenue from multi-storey car parks 75.4 74.3 █ + 1.4% Other commercial revenue 32.2 31.0 ████ + 4.0% Total commercial

  17. Slide 17: OPEX & Other Key Figures

    OPEX & OTHER KEY FIGURES | | © Flughafen Zürich AG

  18. Slide 18: Operating Expenses

    OPERATING EXPENSES Jan-Dec 2016* Jan-Dec 2016 Jan-Dec 2015* ∆ (in %) in million CHF 1 Personnel expenses 196.6 196.6 185.7 █████ + 5.9% 2 Police and security 118.3 118.3 118.6 -0.3% 3 Energy and waste 18.5 18.5 21.9 -15.6% ██████ 1 Maintenance and material 35.2 35.2 40.8 -13.8% █████ Other operating

  19. Slide 19: Key Figures

    KEY FIGURES incl. noise excl. noise Jan-Dec 2016* Jan-Dec 2015* Jan-Dec 2016* Jan-Dec 2015* in million CHF EBITDA 568.1 547.5 559.9 539.8 EBITDA margin (in %) 56.1 55.4 55.9 55.2 Depreciation and amortization -241.5 -228.2 -235.9 -222.4 EBIT 326.6 319.3 324.1 317.4 EBIT margin (in %) 32.2 32.3 32.4

  20. Slide 20: Segment Report According to IFRS

    SEGMENT REPORT ACCORDING TO IFRS regulated business non-regulated business (excl. one-offs) 20 | 06/03/2017 | 2016 full year financial results © Flughafen Zürich AG

  21. Slide 21: Investments

    INVESTMENTS Investments per December 31, 2016 (in million CHF) 2017 planned investment costs for largest projects 1 «The Circle» (51%) 46.6 2 Upgrade terminal 2 36.7 3 Expansion parking 33.5 4 Redesign curbside lanes 15.2 5 Extension Delta stands 9.3 «The Circle» Additional stands CHF ~130 million C

  22. Slide 22: 3. Outlook

    3. OUTLOOK | | © Flughafen Zürich AG

  23. Slide 23: Timetable Highlights

    TIMETABLE HIGHLIGHTS current winter timetable 2016/2017 (since October 30, 2016) Berlin Schönefeld, daily service to Berlin, 3-times weekly to Amsterdam Amsterdam, Lisbon f and Lisbon Amsterdam 3-times weekly Amsterdam f (since February 16, 2017) a total of 9 European leisure destinations were vario

  24. Slide 24: Redesign Duty Free Locations

    REDESIGN DUTY FREE LOCATIONS | | © Flughafen Zürich AG

  25. Slide 25: Guidance 2017

    GUIDANCE 2017 Guidance is based on the consolidated income statement 2016 excl. one-off effects. PAX approx. 4% higher local disproportionately lower growth transfer disproportionately higher growth revenue slightly higher aviation slightly higher non-aviation slightly higher OPEX slightly higher EB

  26. Slide 26: Capital Market Transaction in 2017

    CAPITAL MARKET TRANSACTION IN 2017  CHF 250 million mature in May 2017  successful acquisition in Brasil would increase funding need  favorable interest environment for refinancing  tenor 10y+ 2.25% CHF 250,000,000  lower cash reserves  reducing financing costs and avoiding negative interest 

  27. Slide 27: Shareholder Remuneration

    SHAREHOLDER REMUNERATION DIVIDEND YIELD >3% dividend per share (in CHF) 7.0 6.0 5.0 3.2 3.2 4.0 additional 3.0 regular 2.0 2.7 3.0 3.2 1.0 1.9 2.0 - 2012 2013 2014 2015 2016 • maintain existing dividend policy (payout ratio of 35-45% of profit excl. noise and one-offs) • continuation of additional d

  28. Slide 28: 4. Q&A

    4. Q&A Roadshow Frankfurt (Main First) Friday, March 17, 2017 Roadshow London (Royal Bank of Canada) Tuesday, March 21, 2017 Swiss Seminar Zurich (Kepler Cheuvreux) Tuesday, March 28, 2017 Summer Conference (Vontobel) Thursday, June 8, 2017 Roadshow US (Santander) July 10-14, 2017 Publication | half

  29. Slide 29: 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 29 | 06/03/2017 | 2016 full year financial results © Flughafen Zürich AG

  30. Slide 30: 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

  31. Slide 31: Financial Liabilities (per December 31, 2016)

    FINANCIAL LIABILITIES (PER DECEMBER 31, 2016) 31 | 06/03/2017 | 2016 full year financial results © Flughafen Zürich AG

  32. Slide 32: Passenger Development

    PASSENGER DEVELOPMENT Worldwide 2016 from/to ZRH +5.3% global market +5.5% North America 2016 market share ZRH 8.3% Middle East 2016 from/to ZRH +7.2% market share ZRH 5.3% global market +3.9% from/to ZRH +9.9% global market +9.4% Far East 2016 market share ZRH 6.8% Latin America 2016 from/to ZRH +6

  33. Slide 33: Alliance Shares ZRH 2016

    ALLIANCE SHARES ZRH 2016 (OF SCHEDULED FLIGHTS ONLY) 33 | 06/03/2017 | 2016 full year financial results © Flughafen Zürich AG

  34. Slide 34: Star Alliance Hubs (Jan 2016 – Dec 2016)

    STAR ALLIANCE HUBS (JAN 2016 – DEC 2016) Source: ACI, Rapid Report, YTD2016 34 | 06/03/2017 | 2016 full year financial results © Flughafen Zürich AG

  35. Slide 35: Key Indicators

    KEY INDICATORS 35 | 06/03/2017 | 2016 full year financial results © Flughafen Zürich AG

Flughafen Zürich — FY2016 Earnings Presentation on 6ix