Schiphol Group 2016 Interim Report

26-Aug-2016 Revenue in the fi€rst half year 2016 of 687 million euros is comparable to the same period in 2015 (HY 2015: 684 million euros). The effect of the increase in passenger numbers on revenue (+9.9% at Amsterdam Airport Schiphol) is offset by an 11.6% reduction in airport charges as of 1 April 2016. Other income and fair value gains on investment property decreased from 84 million euros in HY 2015 to 15 million euros in HY 2016. The decrease in other income was caused by the one-off result on the sale of a 60% stake in Schiphol Airport Retail ('SAR') of 50 million euros in 2015. The increase in the value of investment property had a positive effect of 15 million euros (HY 2015: 34 million euros). Operating expenses increased by 2.6% to EUR 412 million. This increase is caused by the substantial growth in the number of passengers and the associated operational measures to facilitate this growth. Depreciation and amortisation increased from 103 million euros to 118 million euros due to completion of several large projects. In line with the published outlook and the developments outlined above, the net result for the €first half of 2016 fell by 40.6% to 121 million euros (HY 2015: 203 million euros).