苏黎世机场集团2026年第二季度及上半年财报与2040战略会议纪要

一、AI总结内容 一、核心要点 1. 2026年上半年集团营收增5%至6.74亿瑞郎，EBITDA增4%至3.74亿瑞郎，净利微升1%至1.64亿瑞郎，苏黎世机场旅客量增6%至1580万人次2. 印度诺伊达机场2026年6月15日开航，2026年EBITDA预期为负、2027年预计盈亏平衡，当前旅客 ramp-up 慢于预期，中东冲突影响印度航空运力与增长3. 2040战略目标：集团营收破30亿瑞郎，国际业务贡献超50%营收，需新增6亿瑞郎新资产贡献收入，国际业务聚焦核心市场巴西、印度 二、财务与运营情况 1. 苏黎世机场航空营收增5%至3.45亿瑞郎，非航空营收增5%至3.28亿瑞郎，物业营收增2%至1亿瑞郎；诺伊达机场2026年营收预期贡献增长，运营成本2026年增6%，苏黎世站点成本预计下半年增速放缓 2. 资本支出：2026年上半年总资本支出2.69亿瑞郎，苏黎世站点占2.02亿瑞郎，2026年全年苏黎世站点资本支出预期达4亿瑞郎3. 资产处置：计划出售巴西美丽地平线机场12.75% minority 股权，预计获1700万瑞郎税前收益，该股权不符合集团多数持股并运营的国际战略三、风险与关注 1. 短期风险：中东地缘冲突影响旅客增长，苏黎世机场2026年全年旅客预期增3%，增速较上半年放缓；诺伊达机场 ramp-up 慢于预期将带来额外折旧、融资支出压力2. 法律保障：苏黎世机场运营时长已纳入联邦航空法，消除了运营时长被缩减的重大风险3. 其他关注：苏黎世机场2026年机场收费降10%，航空营收仍预期稳定；商业零售受施工影响，预计2027年秋起逐步恢复；2026-2027年利润受诺伊达相关费用压制，但基本面稳定 二、音频原文（转写） The network will continue to expand and international services are expected to be addedhowever the ingeneration market is more affected by the conflict in the middle east than other markets.Air space closes elevated fuel costs and capacityadjustment have resulted in a more volatile operating environment for indian airlines and a slower ramp up in noita than originally anticipatedthe short term outlook remains object to increaseuncertainties nevertheless our assessment of the meat to long term opportunities remains unchanged neuida serves one of the fastest growing aviation markets globally benefits from a strong ca tchment area international capital region and represents a strategically important grow platformfor syrigapover the combing decadesthe openingof neuida marks a key milestone in the development of our international business at the same time we continue to see attractive opportunities tofurther develop and strengthen our portfolio wehave therefore defined a clear vision how we want to develop our international business until twenty fortyour ambition is to day to develop theinternational business into a financially selfsufficient business unit that confirmed the capital requirements of new airport concession fromits own resourceswe will maintain a discipline approach to capital allocation focusing on investments that generate excess returns compared to siricour focus is on maturity holdings where we can assume operational responsibility and actively shape the development of the airport at the same time we aim to build a balanced portfolio across elected focus marketswherever we operate ourambition is to be among the best airports in terms of quality customer satisfaction and sustainabilityby twenty forty the international business should make a significant contribution to groups revenue and d b t a as well as to attractivedividend payments of surregairportand now handing over to kevin.Thank you lucas good morning ladies and gentlemen welcome and thank you for joining us i will now provide an overview of the company's financial performance.Let me start with afinancial overview our revenues increased by five per cent compared to the previous half year.This was driven by continued passenger growth atzerick airport and the positive development of our international business in brazilaviation revenue increased broadly in line with passenger volume growth rising by five per cent from three hundred and twenty seven million to three hundredand forty five million swiss francsnonnaviationrevenue increased by five per cent in the first half of the year to three hundred and twenty eight million swiss francsadjusted for concession accounting this reflects a growth of four per cent to three hundred and twenty four millions francsebbitiers rose by four percent year on year tothree hundred and seventy four millions with francs.The evidea marching remains largely unchanged at fifty six per cent.Over all the consolidated result for the first half of the year grew byone per cent to one hundred and sixty four millions with franctsso let's take a closer look atthe nonnaviation figures despite the reduced landside retail offering due to construction activity total commercial and parking revenue increased to one hundred and thirty four million swiss francshigher passenger volumes and higher revenues from food and beverage contributes it to thispositive developmentwithin real estate both revenue from rental and leasing agreements as well as energy and utility cost allocations increasedthis resulted in an overall real estate revenue of one hundred million three francs an increase of two per cent compared to last year.Revenue from services amounted to twenty seven million three francs in the reporting period primarily due to higher traffic volumes at zurich airportthe international business benefited from the continued positive momentum in brazil both in terms of passenger volumes and non aviation activitiestotal revenue from the international business rose from fifty eight to sixty seven million swiss francs factoring out the income statement neutral revenue from construction projects revenue in international business grew by eleven per cent or six million swiss francsoperating expenses increased