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Zurich Airport reports 3.1% revenue increase; Aeroporto di Firenze shares down 3.2%

Switzerland’s Zurich Airport (-0.5%) shares dropped slightly on Wednesday (18-Aug-2010), on the same day the airport announced its revenue rose 3.1% for the six months ended 30-Jun-2010:

  • Revenue*: EUR304.7 million, +3.1% year-on-year;
    • Aeronautical: EUR185.0 million, +3.9%;
    • Non-aeronautical: 119.7 million, +2.0%;
    • Operating costs: EUR159.1 million, +2.7%;
    • EBITDA: EUR145.6 million, +3.6%;
    • Net profit: EUR37.1 million, +5.3%;
    • Operating cash flow: EUR154.4 million, +43.1%;
    • Total assets: EUR2,556 million, -1.1%;
    • Total liabilities: EUR1,372 million, -8.3%;
  • Passenger numbers: 10.5 million, +3.0%;
  • Cargo volume: 200,630 tonnes, +23.5%;
  • Aircraft movements: 128,912, +1.3%.

*Based on the conversion rate at EUR1 = CHF1.3395

“Barring any unforeseen events, Flughafen Zürich AG expects another rise in traffic volumes and a recovery in the non-aviation business in the second half of 2010. For the year as a whole, it still anticipates passenger growth of 3 to 5 percent and profit growth of 10 to 20 percent (excluding profit from the partial sale of the Indian holding in 2009),” said a company statement.

See related CAPA profile: Financial results

Other European airport operators that gained yesterday included Hochtief (+0.3%), Ferrovial (+1.3%) and Gemina (+2.1%). Meanwhile, Aeroporto di Firenze (-3.2%) and Dufry (-0.4%) lost ground.

Selected airports daily share price movements (% change): 18-Aug-2010