SWITZERLAND. Zürich Airport non-aviation revenue climbed marginally (+0.8%) year-on-year in 2015 to CHF391.6 million, the company reported today. [The Swiss Franc is currently around 1:1 to the US Dollar -Ed]
As previously reported, commercial activities were hit hard by the Swiss National Bank’s decision on 15 January 2015 to abolish the minimum exchange rate to the Euro. This had a sharply negative impact, mainly on airside operations.
Sales from shopping and restaurants amounted to CHF534.2million (-1.4% year-on-year). This corresponds to an average spend per passenger of CHF40.70 (2014: CHF 42.50). Revenue from car parking also grew by +1.2% to CHF74.3 million, mainly as a result of the growth in local passenger numbers.
The airside business was hit hard by the surge in value of the Swiss Franc against the Euro in 2015 |
Zürich Airport said: “Despite the challenges posed by the strength of the Swiss Franc, retail revenue was maintained on a par with the previous year and fell only slightly by -0.3 % to CHF111.5 million, thanks also to the increase in floor space during the year under review.”
Noting the performance of retail in its annual report, the airport company said: “In the areas accessible to the general public, sales of Flughafen Zürich AG’s retail partners grew by +3.6 % in 2015. This is the strongest landside growth for five years. Among other things, this positive trend is due to the expansion of Migros and to the additional H&M and Coop outlets.
“The lifting of the minimum Swiss Franc-Euro exchange rate had a negative impact, especially on the airside retail zone, where sales dropped markedly following the Swiss National Bank’s announcement of the new policy. The market is showing signs of a slight recovery. In addition, the new airside catering concepts proved highly popular and contributed to the positive result.
“Various exciting new developments emerged both landside and airside. The new restaurant Walter which opened in the Airside Center in March 2015, offering Mediterranean specialities and a large selection of wines, proved very popular with travellers. The Airport Center also extended its wellness and beauty offering with the brands Rituals and Kiko Milano. The new Timebox store in Check-in 2 offers watches and jewellery. In the autumn, the Glarus-based chocolatier Läderach opened its latest branch in Check-in 1.”
The airport served a total of 26,281,228 passengers in 2015. The number of local originating passengers rose by +6.0% to 18.7 million but the number of transfer passengers fell by -3.3% to 7.5 million.
Factoring out various one-off effects, the airport operator generated a profit of CHF215.3 million in the year (up +4.6%). Including the one-off effects, profit amounted to CHF179.8 million (down -12.7%).
In the current 2016 financial year, Flughafen Zürich AG expects a rise in passenger volumes of around +3%.
Zürich Airport in the context of European passenger traffic |
