Unique Newsflash No. 4 / Financial Year 2005
Profit of 59.1 million Swiss francs for 2005 financial year – long-term solution to financing- and balance sheet-risks relating to potential compensation for aircraft noise found – planned capital increase by 300 million Swiss francs – Canton of Zurich to reduce its investment to legal minimum – net debt reduced by 140 million Swiss francs in 2005 – strengthening of equity.
Zurich Airport, 16 March 2006 - Unique (Flughafen Zürich AG) closed the 2005 financial year with a profit of 59.1 million Swiss francs (2004: 52.4 million Swiss francs, after restatement). With an increase in passenger volume by 3.7 percent, turnover rose by 2.7 percent to 702.2 million Swiss francs (prior year: 683.7 million). In the first full year of operation since the completion of the expansion stage 5, operating costs rose by 2.9 percent to 338.3 million Swiss francs. Security, maintenance and energy accounted for the largest cost increases. A positive free cash flow was generated in the 2005 financial year.
Unique (Flughafen Zürich AG) and the Canton of Zurich worked closely together to find a solution for the financing- and balance sheet-risks associated with potential compensation for aircraft noise. To implement the agreed solution, Unique (Flughafen Zürich AG) is planning a capital increase of 300 million Swiss francs. In the course of this transaction the Canton of Zurich will reduce its shareholding to 1/3 of the shares. The reported 2004 data have been restated. The change in accounting policy has given rise to higher turnover and gains.
Attached please find the full respective Press Releases (English version).