Flughafen Zuerich AG (OTCPK:FLGZY)

Half Year 2026 Flughafen Zuerich AG Earnings Call Transcript

Aug 28, 2026 / 09:00 AM GMT

Release Date Price: $10.5 (-8.70%)

Transcript

Key Points

Positve

Flughafen Zuerich AG (FLGZY) reported its strongest half-year result in company history, with revenues up 5% to CHF 674 million and net profit slightly up to CHF 164 million.
Passenger volumes at Zurich Airport grew 6% to 15.8 million, with strong demand from Europe and Asia Pacific offsetting a 30% decline in Middle East traffic.
The international business, particularly in Brazil, delivered strong performance with passenger growth of over 10%, and the opening of Noida International Airport marked a major strategic milestone.
Political backing for Zurich Airport's operating hours was strengthened through cantonal and federal decisions, enhancing planning certainty and long-term connectivity.
The company achieved a high service level, receiving the Airport Service Quality Award as the best airport in Europe in its category, and continued to invest in digitalization and sustainability.

Negative

The geopolitical environment, especially the Middle East conflict, led to a 30% decline in passenger numbers to and from the Middle East and a more gradual ramp-up at Noida than anticipated.
Noida International Airport is expected to have a negative EBITDA contribution in 2026, with a slower ramp-up and additional depreciation and financing costs of approximately CHF 80 million annually.
The company expects consolidated profit to be lower in 2026 and 2027 due to reduced airport charges, increased depreciation, and interest expenses related to Noida.
Landside commercial revenue declined 3% due to construction works and temporary closures, with disruptions expected to remain stable for the next 12 months.
The divestment of the minority stake in Belo Horizonte and the potential sale of Curaçao reflect a strategic shift, but the company faces uncertainties in achieving its 2040 revenue target of CHF 3 billion, requiring additional new assets.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

FHZN.S - Flughafen Zuerich AG
Half Year 2026 Flughafen Zuerich AG Earnings Call
Aug 28, 2026 / 09:00AM GMT

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Conference Call Participants
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* Lukas Brosi
Flughafen Zuerich AG - Chief Executive Officer, Chief Financial Officer, Member of the Management Board
* Kevin Fleck
Flughafen Zuerich AG - Chief Financial Officer, Member of the Management Board
* Stefan Weber
Flughafen Zuerich AG - Head - Strategy and Capital Markets

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Presentation
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Lukas Brosi, Flughafen Zuerich AG - Chief Executive Officer, Chief Financial Officer, Member of the Management Board [1]
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Good morning, ladies and gentlemen. Welcome to the presentation of Zurich Airport's Half year results for 2026. My name is Lukas Brosi, and I will be hosting this presentation together with Kevin Fleck, our

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