Solid results Schiphol Group - New investments to improve resilience for the future
Schiphol, 15 February 2013
* Revenue rises by 5.8% to 1,353 million euros (2011: 1,278 million euros);
* EBITDA increases by 4.4% to 534 million euros (2011: 512 million euros);
* Operating profit falls by 2.5% to 296 million euros (2011: 304 million
* The profit after income tax is 199 million euros (2011: 194 million euros);
an increase of 2.2%;
* Return on equity (ROE) remains stable at 6.2% (2011: 6.2%).
* The number of passengers at Amsterdam Airport Schiphol increased in 2012 by
2.6% to a record high of 51.0 million. The number of air transport movements
rose by 0.8% to 423,407. Cargo shows a decrease of 2.6% to 1,483,448 tonnes.
The number of destinations went up to 317 (2011: 313), of which 293 for
passengers (8 more than last year).
* From an operating point of view, 2012 was a good year: punctuality improved,
the performance of the baggage handling systems was excellent and the
quality assessment of Schiphol by passengers was higher than ever before.
* Employment at Schiphol airport grew to more than 64,000 jobs. At around five
hundred, the number of businesses located at Schiphol remained stable.
* Spending in the shops after passport control increased by 7.3% to 16.69 euro
per departing passenger; this is mainly the result of the large-scale
renovation of a number of shopping areas and the refinement in the
assortment of the shops (more luxury and branded goods in particular).
* Difficult conditions on the property market were also noticeable at Schiphol
airport, but the effects were greater at other Schiphol Group locations. At
Schiphol, the occupancy level still increased, thanks to a number of new
tenants. Mainly as a result of the reduction in the value of property in
Italy and unrealised fair value losses on other investment property at
Schiphol, operating profit of the business area Real Estate decreased to 23
million euros in 2012 (was 72 million euros in 2011).
* Interests in foreign airports contributed highly to Schiphol Group's result;
the share of results of associates increased to 45 million euros in 2012 (36
million euros in 2011).
* Schiphol is making preparations to enable central security in the non-
Schengen area in the future to replace security at the gates. Central
security guarantees a much more efficient process, better use of the
boarding lounge and gate capacity and more comfort for the passengers.
Central security also is implemented in anticipation of new legislation and
regulations in the area of security. This is an extensive project that will
take several years to complete and requires a number of changes to the
existing terminal, such as the construction of an additional floor on piers
E, F and G. It is expected that this investment programme of approximately
350 million euros will be completed mid 2015.
Response from Jos Nijhuis, President and CEO Schiphol Group:
"The heart of our Mainport - the network of connections - was further
strengthened, while Schiphol also welcomed a record number of passengers. In
uncertain times, Schiphol wishes to remain an economic driving force for the
Netherlands. That is why I am content with the solid result over 2012.
Approximately half of that result will go to our shareholders and the other half
enables us to invest in our Mainport. The latter is necessary to keep the
capacity and quality up to standard in order to continue optimal service to
passengers and airlines in the future. This year we will start the first phase
of our Master Plan: the transition to central security at the entire airport. In
the longer term, this guarantees a comfortable journey and an efficient travel
Click the link below to view the full press release:
Schiphol Group Annual Results 2012:
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Source: Schiphol Group via Thomson Reuters ONE