Avinor revenue eases, profits down in 2009

Norways' Avinor reports (29-Mar-2010) the following financial highlights for the 12 months ended 31-Dec-2009:

• Revenue: EUR914.9 million, -0.4% year-on-year;
  • Traffic: EUR508.7 million, -0.8%;
  • Other: EUR406.5 million, +0.1%;
• Operating profit: EUR147.1 million, -13.5%;
• Net profit: EUR75.0 million, -20.9%;
• Passenger numbers: 38.7 million, -4.1%;
• Aircraft movements: 760,000, -5.0%. [more]

*Based on the conversion rate at EUR1 = NOK8.04

Avinor: "Aviation is highly sensitive to economic cycles, and Avinor's earnings are sensitive to fluctuations in the traffic volume, cf. the aforementioned financial risk. Continued satisfactory air traffic growth is expected based on continued economic growth, continued internationalisation of the industry, increased cultural interaction, population growth and immigration. Growth will primarily be in the larger cities and Eastern Norway in particular. OSL is expected to take an increasing share of Avinor's total volume of traffic in the coming years," Company statement. Source: Avinor, 29-Mar-2010.