Schiphol Group revenue down 1.5%, EBITDA up 25% in 1H2010

The Netherlands' Schiphol Group revenue down 1.5% - financial highlights for the six months ended 30-Jun-2010:

• Revenue: EUR545.0 million, -1.5% year-on-year;
  • Aviation: EUR318.1 million, -3.6%;
  • Consumers: EUR137.6 million, +2.8%;
  • Real Estate: EUR86.4 million, +0.2%;
  • Alliances and participation: EUR69.0 million, -0.5%;
• Operating costs: EUR436.6 million, -6.1%;
• EBITDA: EUR192.3 million, +25.2%;
  • Aviation: EUR65.9 million, -6.3%;
• Net profit: EUR69.2 million, +209.2%;
• Operating cash flow: EUR76.7 million, -47.9%;
• Passenger numbers*: 21.9 million, +2.0%;
• Cargo volume*: 719,000 tons, +21.7%;
• Aircraft movements*: 198,437, -3.7%;
• Total assets: EUR5,480 million, -0.9% when compared with period ended 31-Dec-2009;
• Total liabilities: EUR2,492 million, -2.4% when compared with period ended 31-Dec-2009. [more]

*Includes Amsterdam Schiphol, Rotterdam The Hague Airport and Eindhoven Airport

Schiphol Group: "Taking into account the one-off share in results of associates related to the JFK IAT transaction, Schiphol Group is increasing its profit projection to a net result for 2010 of approximately EUR160 million (this was EUR132 million). This is in spite of the negative impact of the airspace closures as a result of the volcanic ash cloud. This projection is based on effective cost control, in line with that of the past six months, and 1.5% to 2.0% growth in passenger numbers at Amsterdam Airport Schiphol for the whole of 2010," Company statement. Source: Schiphol Group, 30-Aug-2010.