Flughafen Zurich AG · SIX:FHZN

Flughafen Zurich — FY2012 Earnings Presentation

32 slides from Flughafen Zurich's earnings presentation, Mar 20, 2013

  1. Slide 1: 2012 Financial Results

    2012 Financial Results Thomas E. Kern Daniel Schmucki Chief Executive Officer Chief Financial Officer Zurich | Airport | 20.03.2013 | © Flughafen Zürich AG

  2. Slide 2: Schedule

    Schedule 1. Full Year Highlights 3 2. Full Year Key Data 4 3. Aviation 8 4. Non-Aviation 12 5. Financial Key Figures 15 6. Other Key Topics 20 7. Outlook 24 2 | 20.03.2013 | 2012 Full Year Financial Results © Flughafen Zürich AG

  3. Slide 3: 1. Full Year Highlights

    1. Full Year Highlights • The Circle: Agreement with Hotel Operator Hyatt and Building Permission obtained • Standard and Poor’s revises Rating: A- to A • Economic Regulation: Negotiations with Airport Users on track • Issuing Bond of 300 million Swiss francs • Settlement Aircraft Noise Dispute CH/D

  4. Slide 4: 2. Full Year Key Data

    2. Full Year Key Data 4 | 20.03.2013 | 2012 Full Year Financial Results © Flughafen Zürich AG

  5. Slide 5: Full Year Traffic Figures

    Full Year Traffic Figures Jan-Dec Jan-Dec Delta in millions 2012 2011 (in %) Local passengers 16.2 16.0 ██ +1.6 Transfer passengers 8.5 8.3 ███ +2.5 Transfer share (in %) 34.2 34.0 +0.6 Total passengers 24.8 24.3 ██ +1.9 Movements (in 1'000) 270.0 279.0 -3.2 ████ whereof Line & Charter movements 233

  6. Slide 6: Full Year Financial Results

    Full Year Financial Results Jan-Dec Jan-Dec Delta Jan-Dec Delta CHF in million 2012 2011 (in %) 2012 (in %) Aviation revenue 596.4 579.6 2.9 596.4 2.9 Non-Aviation revenue 352.4 325.8 8.2 352.4 8.2 Revenue 948.8 905.4 4.8 948.8 4.8 excl. IAS 19 effect EBITDA 390.7 483.9 -19.3 512.6 5.9 EBITDA margin

  7. Slide 7: Full Year Financial Results (without noise impact)

    Full Year Financial Results (without noise impact) Jan-Dec 2012 Jan-Dec 2011 Delta Jan-Dec 2012 Delta CHF in million w/o noise w/o noise (in %) w/o noise (in %) Aviation revenue 544.4 531.0 2.5 544.4 2.5 Non-Aviation revenue 352.4 325.8 8.2 352.4 8.2 Revenue 896.8 856.8 4.7 896.8 4.7 excl. IAS 19 ef

  8. Slide 8: 3. Aviation

    3. Aviation 8 | 20.03.2013 | 2012 Full Year Financial Results © Flughafen Zürich AG

  9. Slide 9: Global Passenger Development (FY 2012)

    Global Passenger Development (FY 2012) Europe Dez 2012 YTD 2012 North America Dez 2012 YTD 2012 Global Market -0.9% +1.8% Global Market +0.5% +1.6% from/to ZRH -2.8% +0.4% from/to ZRH +11.2% +7.5% Middle East Dez 2012 YTD 2012 Global Market +11.8% +12.1% from/to ZRH +7.4% +9.4% Africa Dez 2012 YTD 2

  10. Slide 10: Traffic Q1 – Q4 2012

    Traffic Q1 – Q4 2012 1st half year 2012: Q1 Delta Q2 Delta in millions 2012 (vs. prior year period) 2012 (vs. prior year period) Local passengers 3.4 █ +2.0% 4.3 ██ +2.9% Transfer passengers 2.0 ██████ +6.3% 2.1 ██ +2.6% Total passengers 5.4 ███ +3.5% 6.4 ██ +2.8% Movements (in 1'000) 64.7 -2.1% ██

  11. Slide 11: Aviation Segment Revenue Breakdown

    Aviation Segment Revenue Breakdown Jan-Dec Jan-Dec Delta • Ø Heavier aircraft led to CHF in million 2012 2011 (in %) higher landing charges Passenger fees 199.6 195.6 2.1 despite less movements Security fees 160.0 157.3 1.7 • New noise split as of PRM fees 11.1 11.2 -0.9 1.1.2012: 76% (old: 72%) for

  12. Slide 12: 4. Non-Aviation

    4. Non-Aviation 12 | 20.03.2013 | 2012 Full Year Financial Results © Flughafen Zürich AG

  13. Slide 13: Non-Aviation Segment Revenue Breakdown

    Non-Aviation Segment Revenue Breakdown Jan-Dec Jan-Dec Delta • Strong increase in Retail CHF in million 2012 2011 (in %) and Tax & Duty Free as a Retail and Tax & Duty Free 87.4 75.2 16.3 result of new surfaces and Food & Beverage 14.3 13.6 4.7 higher Spent per departing Others 29.1 27.7 5.0 PAX Com

  14. Slide 14: Commercial: Gross Income Shop-Operators

    Commercial: Gross Income Shop-Operators 14 | 20.03.2013 | 2012 Full Year Financial Results © Flughafen Zürich AG

  15. Slide 15: 5. Opex & Other Key Figures

    5. Opex & Other Key Figures 15 | 20.03.2013 | 2012 Full Year Financial Results © Flughafen Zürich AG

  16. Slide 16: Operating Expenses

    Operating Expenses Jan-Dec Jan-Dec Delta Jan-Dec Delta CHF in million 2012 2011 (in %) 2012 (in %) Personnel 290.1 163.5 77.4 168.2 2.8 excl. IAS 19 effect Police and security 115.3 118.0 -2.3 115.3 -2.3 Energy and waste 26.1 23.9 9.3 26.1 9.3 Maintenance and material 42.8 39.4 8.5 42.8 8.5 Other op

  17. Slide 17: Finance Result

    Finance Result 17 | 20.03.2013 | 2012 Full Year Financial Results © Flughafen Zürich AG

  18. Slide 18: Net Result

    Net Result Jan-Dec Jan-Dec Delta Jan-Dec Delta CHF in million 2012 2011 (in %) 2012 (in %) EBITDA 390.7 483.9 -19.3 512.6 5.9 excl. IAS 19 effect EBITDA margin (in %) 41.2 53.5 54.0 Depreciation and amortisation -218.7 -201.2 8.7 -218.7 8.7 EBIT 171.9 282.7 -39.2 293.9 3.9 EBIT margin (in %) 18.1 31

  19. Slide 19: Other Key Figures

    Other Key Figures incl. noise excl. noise excl. noise CHF in million 2012 2011 2012 2011 2012 Net financial debt / EBITDA 2.11x 2.09x 3.24x 2.86x 2.39x Cash flow operating activities / 53.2 43.4 37.4 31.8 37.4 excl. IAS 19 effect Net financial debt (in %) Net financial debt 826.2 1'012.1 1'107.9 1'2

  20. Slide 20: 6. Other Key Topics

    6. Other Key Topics 20 | 20.03.2013 | 2012 Full Year Financial Results © Flughafen Zürich AG

  21. Slide 21: Update on Investments 2012

    Update on Investments 2012 Var. Building constructions Upgrade T2 Runway 14 / 32 ~ 24 million CHF ~ 31 million CHF ~ 10 million CHF Total Investments 195.6 million CHF Accruals - 19.5 million CHF Parking Expansion Airbridges Dock A Capitalised Investments ~ 23 million CHF ~ 10 million CHF 176.1 mill

  22. Slide 22: The Circle at Zürich Airport

    The Circle at Zürich Airport Milestones achieved in 2012: • 03/2012: Agreement signed with Hyatt Group for two hotels with 550 rooms and large conference center • 04/2012: building permission received Current project focus: • Detailed construction planning to reach investment cost assurance • Market

  23. Slide 23: Economic Regulation of Airport Charges

    Economic Regulation of Airport Charges 25. April 2012: Negotiation process 1. June 2012: 1. January 2014: Enactment of the or Ordinance on Airport FIGV came into force Implementation of FIGV Fall back Regulation Charges (FIGV) 30. October 2012: Early 2013: Noise Charges: April 2013: FZAG submitted F

  24. Slide 24: 7. Outlook

    7. Outlook 24 | 20.03.2013 | 2012 Full Year Financial Results © Flughafen Zürich AG

  25. Slide 25: Outlook 2013: Traffic

    Outlook 2013: Traffic Feb Feb Delta Jan-Feb Jan-Feb Delta in millions 2013 2012 (in %) 2013 2012 (in %) Local passengers 1.1 1.1 -0.7 2.1 2.2 -0.9 Transfer passengers 0.6 0.6 -6.9 1.2 1.2 -3.0 Transfer share (in %) 34.9 36.4 36.0 36.5 Total passengers 1.6 1.7 -2.9 3.3 3.4 -1.7 Movements (in 1'000) 1

  26. Slide 26: Outlook Traffic: Changes Summer Timetable 2013

    Outlook Traffic: Changes Summer Timetable 2013 SWISS: Additions / reductions: Singapur daily as of 12 May Dublin daily increased to 9x weekly (seasonal in July / August) Lisbon daily increased to 2x daily Stuttgart from 6x to 5x daily Cairo from daily to up to 6x weekly Other airlines: New services

  27. Slide 27: Guidance Full Year 2013

    Guidance Full Year 2013 The Guidance 2013 is based on the full year results 2012 excl. the IAS 19 effect and excl. the one-off financial result-impacts in 2012: • Passenger volume stable (0-1% increase) • Total revenues to increase by 1 to 2% • Aviation revenue: to grow in line with traffic volume •

  28. Slide 28: 8. Your Questions

    8. Your Questions 28 | 20.03.2013 | 2012 Full Year Financial Results © Flughafen Zürich AG

  29. Slide 29: Repayment Schedule (as per 31.12.2012)

    Repayment Schedule (as per 31.12.2012) 2024 421.2 Major repayments: ~ • Partly repayments 2020 300.0 US PP (2011-15) 2019 0.0 • Maturity Bonds: 2018 0.0 CHF 225m (2014) CHF 250m (2017) 2017 250.0 CHF 300m (2020) 2016 0.0 • Repayment Japanese PP (2024) 2015 73.2 2014 298.2 2013 73.2 0 50 100 150 200

  30. Slide 30: Debt Maturity Structure (Financial Liabilities)

    Debt Maturity Structure (Financial Liabilities) 2012 4.4% 44.8% 50.9% 2011 8.1% 34.4% 57.4% 2010 9.0% 47.2% 43.8% 2009 15.6% 44.2% 40.2% 2008 14.3% 38.1% 47.6% 2007 3.6% 48.0% 48.4% 2006 8.7% 38.8% 52.5% 2005 7.8% 23.5% 68.7% 2004 6.9% 26.5% 66.5% 2003 6.5% 25.1% 68.4% 2002 17.4% 54.4% 28.2% 0% 20%

  31. Slide 31: Customer Segments ZRH FY 2012

    Customer Segments ZRH FY 2012 31 | 20.03.2013 | 2012 Full Year Financial Results © Flughafen Zürich AG

  32. Slide 32: Star Alliance Hubs

    Star Alliance Hubs 20% BRU CPH Impact of volcanic FRA 15% erruption in Iceland in April 2010 MUC VIE ZRH 10% 5% VIE 0% CPH ZRH BRU MUC -5% FRA -10% 32 | 20.03.2013 | 2012 Full Year Financial Results © Flughafen Zürich AG

Flughafen Zürich — FY2012 Earnings Presentation on 6ix