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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  Flughafen Zürich AG    FHZN   CH0319416936

FLUGHAFEN ZÜRICH AG

(FHZN)
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Flughafen Zürich : Zürich AG moves into new headquarters in The Circle

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05/26/2020 | 04:08am EDT

The airport operator today became the first tenant to move into its new headquarters in The Circle. Spanning five floors, the 'Homebase' provides a modern working environment in a premium location for around 600 employees.

The Circle is not only Switzerland's largest building construction project; together with the park behind it, it forms a unique meeting place with exciting content at Switzerland's gateway to the world. Flughafen Zürich AG's new headquarters at The Circle 16, 8058 Zürich-Flughafen, are situated right next to the tram stop, the bus station and Airport Shopping.

New office concept
Called the 'Homebase', the new headquarters provide a hub for one-on-one meetings and focused working for around 600 employees. The design of working environments has changed considerably in recent years, as reflected in the office concept adopted by Flughafen Zürich AG: fixed structures and allocated desks have been replaced by creative co-working spaces, meeting areas and lounges. Other tenants in The Circle - including Raiffeisen, MSD, Microsoft, SAP, isolutions and itelligence AG - will also have cutting-edge workspace designs.
Gradual ramp-up
Due to the current situation and related restrictions, most Flughafen Zürich AG employees not in front-operation roles continue to work from home. Construction work on The Circle is nearing completion. The joint ownership company anticipates a delay of two to three months in completing some types of use and bringing them on stream.

About The Circle
The Circle will become a central attraction that strengthens Zurich Airport. Once it opens, it will be possible to hold conferences for up to 2,500 guests directly at Switzerland's largest national airport. Two Hyatt Group hotels, various brand worlds, an outpatient healthcare centre run by the University Hospital of Zurich, attractive office space, and arts, culture, restaurants and education facilities will round out the wide range at Zurich Airport. The Circle will thus enrich the whole region, both culturally and economically. The project is being built by a joint ownership company, with Flughafen Zürich AG and Swiss Life AG holding stakes of 51% and 49% respectively.

Photo material:
Please find a selection of images of our new homebase in our image data base (search key word: 'Homebase') here: https://brand.zrh.ch/media

Disclaimer

Flughafen Zürich AG published this content on 26 May 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 May 2020 08:07:02 UTC


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Financials
Sales 2020 632 M 699 M 699 M
Net income 2020 -85,6 M -94,6 M -94,6 M
Net Debt 2020 1 338 M 1 479 M 1 479 M
P/E ratio 2020 -47,6x
Yield 2020 -
Capitalization 4 058 M 4 480 M 4 487 M
EV / Sales 2020 8,54x
EV / Sales 2021 5,78x
Nbr of Employees 2 003
Free-Float 58,2%
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Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 149,07 CHF
Last Close Price 132,20 CHF
Spread / Highest target 52,8%
Spread / Average Target 12,8%
Spread / Lowest Target -9,23%
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Managers
NameTitle
Stephan Widrig Chief Executive Officer
Andreas G. Schmid Chairman
Stefan Tschudin Chief Operating Officer
Lukas Brosi Chief Financial Officer
Konrad Zöschg Head-Information & Communication Technology
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