Flughafen Zurich (FLGZY)
OTHER OTC:FLGZY
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Earnings Data
Report Date
Aug 28, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
―Last Year’s EPS
―Same Quarter Last Year
Based on 2 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a broadly positive operating and financial picture for 2025: record passenger volumes, record revenue/EBITDA/consolidated profit, a strong EBITDA margin, S&P rating upgrade, material sustainability progress, and Noida reaching operational readiness. Management also demonstrated improved cost discipline and secured strategic commercial/real estate wins. However, near‑term headwinds temper the outlook: negotiated tariff reductions (~10%) for Zurich users, elevated and sustained CapEx (including Noida), expected negative net profit contribution from Noida in 2026 due to depreciation and interest (~CHF 75–80m annualized), a small impairment, landside commercial disruption from construction, and geopolitical uncertainty prompting conservative 2026 guidance. On balance the positives (record results, operational milestones, rating upgrade, international momentum) outweigh the negatives, but investors should watch Noida's early performance, tariff impacts, and high CapEx.Company Guidance
Record Passenger Traffic
Zurich Airport handled a record 32.6 million passengers in FY2025, a 4% year‑on‑year increase; local market grew ~6%, Europe +4%, intercontinental +6%, seat load factor remained high at 80% and flight movements rose 3%.
Record Financial Results
Group revenues reached CHF 1.36 billion; EBITDA a record CHF 762 million (up 4% year‑on‑year) with a strong EBITDA margin of 56%; consolidated result increased 6% to CHF 346 million.
Strong Commercial and Real Estate Performance
Airside commercial turnover rose driven by passenger growth and new luxury store openings; Real estate revenues increased marginally (+0.2% to CHF 198 million) and The Circle contributed ~CHF 70 million of revenues with an EBITDA margin of ~70%.
International Business Momentum (Latin America)
International revenues grew ~10% to CHF 114 million (ex concession accounting); Brazilian airports delivered record revenue, EBITDA and net profit; Florianopolis passenger volumes +6% to 5.2 million and recorded >1 million international passengers in a year for the first time.
Noida Airport Operational Milestone
Noida International Airport completed major terminal works and operational trials and received the aerodrome license on 6 March 2026; commercial operations expected within ~30–45 days with a ramp‑up of 3–4 months and up to 4 million passengers projected for calendar year 2026.
Capital Investments and Strategic Acquisitions
Group invested heavily in 2025 (total CapEx ~CHF 760 million; CHF 503 million invested at Zurich site); strategic acquisition of the Radisson Blu building for CHF 155 million making the company owner of all land/buildings within the central airport perimeter.
Improved Cost Discipline
Excluding concession accounting, OpEx growth slowed from 9% the prior year to 4% in 2025; energy and waste costs decreased 19% to CHF 36 million; operating cash flow increased to CHF 688 million.
Regulatory & Financing Wins
Negotiated a new charge period with airport users (starts Oct 2026) providing planning certainty; WACC increased by 50 bps from 5.0% to 5.5%; Standard & Poor's credit rating upgraded from A+ to AA- (outlook stable).
Sustainability and Operational Recognition
Progress on ESG and innovation projects; multiple Latin American airports reached Airport Carbon Accreditation Level 4 (Florianopolis earlier, Vitoria and Macae recently); Zurich Airport won the Airport Service Quality Award as best airport in Europe for the 9th consecutive time.
Duty‑Free Partnership Secured
Premature extension of duty‑free contract with long‑standing partner Avolta until end of 2035; concession fee structure unchanged (turnover‑based), providing commercial continuity during major construction phases.
FLGZY Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
FLGZY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 10, 2026 | $12.55 | $12.40 | -1.18% |
Aug 26, 2025 | $11.73 | $11.98 | +2.14% |
Mar 07, 2025 | $9.49 | $9.42 | -0.75% |
Aug 27, 2024 | $9.34 | $9.09 | -2.69% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Flughafen Zurich (FLGZY) report earnings?
Flughafen Zurich (FLGZY) is schdueled to report earning on Aug 28, 2026, Before Open (Confirmed).
What is Flughafen Zurich (FLGZY) earnings time?
Flughafen Zurich (FLGZY) earnings time is at Aug 28, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
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What is FLGZY EPS forecast?
Currently, no data Available