Flughafen Zurich: Good Earnings, Huge Airport In India Delayed Again

2025-03-31 11:10:09 ET

Summary

• Flughafen Zürich AG reported 2024 earnings with 7% revenue growth and 8.3% EBITDA increase, despite higher expenses, showing resilience and operational efficiency.
• FLGZY stock has declined 7%, but remains a buy due to its attractive international portfolio and potential growth, particularly from the Noida airport project.
• Risks include political exposure, concession expirations, and delays in Noida airport opening, but overall growth prospects remain strong.
• 2025 guidance is flat, but long-term value remains for FLGZY with a price target of $294.08, suggesting a 10-13% upside at a competitive EV/EBITDA multiple.

Flughafen Zürich AG ( FLGZY ) reported its full year 2024 earnings on the 7 ^th of March. The stock price has not moved substantially following the earnings release, but it is still a good moment to review the earnings and update the price target....

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