Financial year 2021: Challenging year with bright spots

Total revenue rose in the reporting period by 9% compared with 2020 and amounted to CHF 680 million, corresponding to 56% of the revenue figure for 2019. Thanks to higher passenger numbers, aviation revenue was also 9% higher than the prior-year level at CHF 241 million. The adjusted operating expenses declined by a further 8% year on year to CHF 370 million. This corresponds to savings of 24% compared with 2019. The lower costs are due, among other things, to lower personnel expenses as a result of short-time working, lower variable operating expenses for infrastructure and to lower passenger volumes and persistent cost management. Earnings before interest, tax, depreciation and amortisation (EBITDA) amounted to CHF 299 million, corresponding to an increase of CHF 103 million (+53%).

Thanks to a profitable second half, the loss from the first six months was greatly reduced and amounts to CHF 10 million for the year just ended (loss 2020: CHF -69 million; profit 2019: CHF 309 million). Flughafen Zürich AG invested CHF 206 million in plant and ongoing projects in the reporting period (2020: CHF 399 million). At CHF 62 million, the single biggest project at the Zurich site is the completion of the Circle. Other major projects included the refurbishment and expansion of the baggage sorting system (GSA), work in preparation for the renovation of runway 10/28 and the expansion of landside passenger areas (ELP).

New retail offerings and openings

The Circle celebrated its first anniversary in November 2021. In addition to the opening of the two Hyatt hotels in April and December, the reporting period celebrated other milestones. Around 300 events and congresses with a national or international audience were successfully conducted at the Circle Convention Center. During the year, various office and retail tenants moved in to the Circle, new offerings were launched and special events, such as the lights and music festival Zauberpark delighted the public. A number of new retail and catering offerings were added at Airport Shopping and the Airside Center.