2017 FULL YEAR FINANCIAL RESULTS PRESENTATION TO INVESTORS & ANALYSTS

Transcription

1 2017 FULL YEAR FINANCIAL RESULTS PRESENTATION TO INVESTORS & ANALYSTS Stephan Widrig Chief Executive Officer Lukas Brosi Chief Financial Officer

2 SCHEDULE 1. Business Update 2. Financial performance 3. Outlook 4. Q&A 2 02/03/ full year financial results

3 1. BUSINESS UPDATE

4 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

5 TRAFFIC FIGURES in million Jan-Dec 2017 Jan-Dec 2016 (in %) Local passengers % Transfer passengers % Transfer share (in %) n/a Total passengers % Movements (in 1'000) % whereof line & charter movements % Cargo (in 1'000 tons) % 5 02/03/ full year financial results

6 TIMETABLE HIGHLIGHTS current winter timetable 2017/18 Wroclaw Orlando Reykjavik Antwerp upcoming summer timetable 2018 Chengdu Vancouver San Francisco Denver, Seychelles Philadelphia Corfu, Ibiza Tenerife, Zadar Bordeaux, Marseille Kiev Porto year-round service with 3 flights per week year-round service to Orlando with 1-weekly flight beside its summer operation, Icelandair is now offering 2-weekly flights during winter since January 22, the Belgian carrier is offering 2-daily flights (Mo Fr) to Antwerp the Chinese carrier extends its existing Chengdu-Prague service to Zurich offering 3-weekly flights new non-stop seasonal flight (3 times per week) seasonal service to San Francisco offering 1 daily flight Edelweiss air expands its network from Zurich offering up to 2- weekly flights to new long-haul destinations as of March 25, 2018 American Airlines will no longer fly from Zurich to New York JFK, but to Philadelphia Germania further expands its route network from Zurich offering up to 4-weekly flights new destinations to be served with up to 12-weekly flights (Bordeaux), 3/4-weekly flights to Marseille/Kiev the low-lost larrier will start a seasonal service with 3-weekly flights to Porto 6 02/03/ full year financial results

7 KEY FIGURES COMMERCIAL BUSINESS total airside commercial area ~14 200sqm total landside commercial area ~19 000sqm 7 02/03/ full year financial results

8 Steigender Steigender EXTENDED OFFERING FOR PARKING modernization and expansion of parking 6 completed Erfreuliche Umsatzentwicklung in strengthening anspruchsvollem of digital Umfeld offering insbesondere 300 transactions im luftseitigen per day Bereich Gastronomie approx. CHF 120 per online booking hochpreisiges flexible pricing, Retailgeschäft in particular for long-stay parking integration in preflight s Neue Angebote in Retail & Gastronomie refurbishment of parking 1 ongoing Duty-Free Umbau fristgerecht abgeschlossen und dem Betrieb übergeben

9 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

10 PROMISING PRELETTING USZ Hyatt Regency Abraxas THE PARK Microsoft Sablier Convention Center Hyatt Place FZAG Spaces

11 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 Curaçao, O&M, shareholding Vietnam Japan Philippines Bogotá, TSA Bangalore, completed project Indonesia Iquique, O&M, shareholding Antofagasta, O&M, shareholding Belo Horizonte, O&M, shareholding Florianópolis, shareholding active involvement focus markets for future engagements 11 02/03/ full year financial results

12 2. FINANCIAL PERFORMANCE

13 FINANCIAL KEY FIGURES INCLUDING NOISE in million CHF Jan-Dec 2017* Jan-Dec 2017 Jan-Dec 2016* (in %) Aviation revenue % Non-aviation revenue % Revenue 1' ' ' % EBITDA % EBITDA margin (in %) EBIT % EBIT margin (in %) Finance result (net) % Profit % Interest-bearing liabilities (net) % Cash flow from operating activities % CAPEX (incl. Circle) % EpS (in CHF) % * excluding one-offs 2017: Swissair liquidation dividend CHF +4.8m (pre-tax) and Bangalore divestment CHF +36.3m (pre-tax) 2016: Swissair liquidation dividend CHF +3.5m (pre-tax) and purchase price payment for land for THE CIRCLE CHF +7.3m (pre-tax) 13 02/03/ full year financial results

14 FINANCIAL KEY FIGURES EXCLUDING NOISE in million CHF Jan-Dec 2017* Jan-Dec 2017 Jan-Dec 2016* (in %) Aviation revenue % Non-aviation revenue % Revenue 1' ' ' % EBITDA % EBITDA margin (in %) EBIT % EBIT margin (in %) Finance result (net) % Profit % Interest-bearing liabilities (net) % Cash flow from operating activities % CAPEX (incl. Circle) % EpS (in CHF) % * excluding one-offs 2017: Swissair liquidation dividend CHF +4.8m (pre-tax) and Bangalore divestment CHF +36.3m (pre-tax) 2016: Swissair liquidation dividend CHF +3.5m (pre-tax) and purchase price payment for land for THE CIRCLE CHF +7.3m (pre-tax) 14 02/03/ full year financial results

15 AVIATION

16 AVIATION SEGMENT REVENUE BREAKDOWN in million CHF Jan-Dec 2017 Jan-Dec 2016 (in %) Passenger related operations charges % Landing charges % Aircraft-related noise charges % Emission charges % Parking charges n/a Freight revenue % Total flight operations charges % Baggage sorting and handling system % Aircraft energy supply system n/a De-icing n/a Other fees % Total aviation fees % Total other aviation revenue % Total aviation revenue % Ø landing charge per movement (in CHF) % decrease in PAX related charges because of tariff reduction (since September 2016) changes in charging model introduction of new user fees & change in fee structure 16 02/03/ full year financial results

17 NON-AVIATION

18 NON-AVIATION SEGMENT REVENUE BREAKDOWN in million CHF Jan-Dec 2017 Jan-Dec 2016 (in %) Retail, tax & duty free % Food & beverage operations % Revenue from multi-storey car parks % Other commercial revenue % Total commercial revenue % Revenue from rental and leasing agreements % Energy and utility cost allocation % Cleaning and other service revenue % Revenue from facility management % Revenue from services % Revenues international n/a Revenues from construction projects n/a Total revenues international n/a Total non-aviation revenue % Ø revenue retail, tax & duty free, F&B per departing PAX (in CHF) % solid growth in commercial revenues despite refurbishment works higher revenue from car parking boosted by marketing campaigns fewer construction projects carried out for thirds parties new revenue block «international» because of consolidation of A-Port Chile and Florianópolis 18 02/03/ full year financial results

19 OPEX & OTHER KEY FIGURES

20 OPERATING EXPENSES in million CHF Jan-Dez 2017* Jan-Dez 2017 Jan-Dez 2016* (in %) Personnel expenses % Police and security % Energy and waste % Maintenance and material % Other operating expenses % Sales, marketing, administration % Expenses from construction projects n/a Capitalized expenditure & other income/expenses n/a Total operating expenses % whereof ZRH % whereof international n/a * excluding one-offs 2017: Swissair liquidation dividend CHF +4.8m 2016: Swissair liquidation dividend CHF +3.5m and purchase price payment for land for THE CIRCLE CHF +7.3m impacted by consolidation of international holdings disproportionately lower increase compared to PAX growth offsetting revenues from construction projects 20 02/03/ full year financial results

21 DEVELOPMENT OF EBITDA (INCL. NOISE) +1.9% 21 02/03/ full year financial results

22 KEY FIGURES incl. noise excl. noise in million CHF * excluding one-offs Jan-Dec 2017* Jan-Dec 2016* Jan-Dec 2017* Jan-Dec 2016* EBITDA EBITDA margin (in %) Depreciation and amortization EBIT EBIT margin (in %) Finance result (net) Associated companies Income tax expense Profit Net financial debt / EBITDA 0.10x 0.18x 0.90x 1.01x Net financial debt ROIC (in %) Return on equity (in %) Equity ratio (in %) Cashflow from operating activites Investments Free cashflow /03/ full year financial results

23 INVESTMENTS Investments per December 31, 2017 (in million CHF) 2018 planned investment costs for largest projects 1 THE CIRCLE (51%) additional stands upgrade Zone A refurbishment P adoption airport center 4.0 THE CIRCLE CHF ~140 million additional stands CHF ~20 million other investments 81.1 Total investments * * based on output, incl. capitalized expenditure upgrade Zone A CHF ~20 million update energy supply airfield CHF ~15 million 23 02/03/ full year financial results

24 3. OUTLOOK

25 GUIDANCE 2017 figures (excl. one-offs) Guidance 2018 PAX 29.4 million 3.5% to 4% higher Revenues CHF 1 034m OPEX CHF 455m aviation revenues corresponding to PAX growth increasing commercial revenues increasing international revenues (total CHF 40-45m) concession accounting (mid double-digit million amount) increasing OPEX international (total CHF 25-30m) slightly higher costs in ZRH concession accounting (mid double-digit million amount) EBITDA CHF 579m 3% to 5% higher depreciation CHF 244m stable profit (incl. noise) CHF 250m 5% to 10% higher CAPEX CHF 239m CHF ~300 million, whereof CHF ~140 million THE CIRCLE 25 02/03/ full year financial results

26 CAPEX ROADMAP period high visibility CHF million p.a. whereof regulated: ~40% whereof maintenance: CHF million p.a. core projects: THE CIRCLE / baggage sorting / expansion aircraft stands period medium visibility CHF ~300 million p.a. whereof regulated: ~60% whereof maintenance: CHF million p.a. core projects: baggage sorting / taxiway system / pier A / adoptions airport center mid-term CAPEX are subject to economic conditions and future economic regulations 26 02/03/ full year financial results

27 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, 2018 Roadshow Hong Kong (UBS) April 27, 2018 Summer Conference Interlaken (Vontobel) June 5, 2018 Publication Half Year Results 2018 August 28, 2018 Transport Conference London (UBS) September 10, 2018 Infra Conference New York (Santander) September 26/27, 2018

28 IR CONTACTS Lukas Brosi Chief Financial Officer Stefan Weber Head Investor Relations +41 (0) /03/ full year financial results

29 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 fairness, accuracy, completeness or correctness of the information or opinions contained therein. Neither the company nor any of its affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss arising from any use of this document or its content or otherwise arising in connection with this document. This document does not constitute an offer or invitation to purchase or subscribe for any shares and neither this document nor any part of it shall form the basis of, or be relied upon in connection with, any contract or commitment whatsoever. This document contains forward-looking statements that are based on current estimates and assumptions made by the management of Flughafen Zürich AG to the best of its knowledge. Such forward-looking statements are subject to risks and uncertainties, the non-occurrence or occurrence of which could cause the actual results including the financial condition and profitability of Flughafen Zürich AG to differ materially from or be more negative than those expressed or implied by such forward-looking statements. This also applies to the forward-looking estimates and forecasts derived from third-party studies. Consequently, neither the Company nor its management can give any assurance regarding the future accuracy of the opinions set forth in this document or the actual occurrence of the predicted developments. By accepting this document, you agree with foregoing /03/ full year financial results

30 PASSENGER DEVELOPMENT Worldwide 2017 from/to ZRH +6.3% global market +6.4% North America 2017 market share ZRH 8.1% from/to ZRH +3.6% global market +3.5% Middle East 2017 market share ZRH 5.4% from/to ZRH +8.2% global market +4.7% Far East 2017 market share ZRH 7.1% Latin America 2017 market share ZRH 1.3% from/to ZRH +33.5% global market +4.3% Africa 2017 market share ZRH 2.0% from/to ZRH +18.0% global market +5.9% from/to ZRH +10.8% global market +7.8% Europe 2017 market share ZRH 76.1% from/to ZRH +5.4% global market +8.5% Source: ACI & ZRH data warehouse, /03/ full year financial results

31 FY2017 ALLIANCE SHARES ZRH Source: ZRH data warehouse, /03/ full year financial results

32 STAR ALLIANCE HUBS PASSENGER DEVELOPMENT 25% 20% % 10% 5% 0% -5% -10% -15% -20% -25% -30% -35% -40% -45% -50% BRU FRA VIE CPH MUC ZRH Source: ZRH data warehouse, /03/ full year financial results

33 KEY INDICATORS Source: ZRH data warehouse, /03/ full year financial results