23-Feb-2010 1:16 PM

Schiphol Group revenue stabilises, EBITDA down 18% in 2009

The Netherland’s Schiphol Group revenue stabilises – financial highlights for the 12 months ended 31-Dec-2009:

  • Revenue: EUR1,154 million, stable year-on-year;
    • Aviation: EUR674 million, +5.4%;
    • Consumers: EUR262 million, -12.7%;
    • Real Estate: EUR135 million, -0.2%;
    • Alliances & Participations: EUR81 million, +5.3%;
  • Operating cost: EUR927 million, +5.2%;
    • Aviation: EUR629 million, +6.8%;
    • Consumers: 160 million, -2.2%;
    • Real Estate: EUR67 million, +3.9%;
    • Alliances & Participations: EUR71 million, +9.6%;
  • EBITDA: EUR383 million, -17.9%;
    • Aviation: EUR176 million, +3.3%;
    • Consumers: 134 million, -17.6%;
    • Real Estate: EUR51 million, -54.0%;
    • Alliances & Participations: EUR22 million, -2.3%;
  • Net profit: EUR132 million, -29.3%;
  • Passenger numbers: 46.2 million, -7.7%;
  • Cargo volume: 1.3 million tonnes, -17.9%;
  • Aircraft movements: 418,672, -8.4%;

Schipol Group expects a flat profit result in FY2010, with CEO, Jos Nijhuis, stating the FY2009 decline in traffic  did not affect results as much as expected. (Reuters, 22-Feb-2010). Amsterdam Schiphol International Airport plans to cut up to 600 jobs, as a result of the “unprecendented” decline in passenger traffic, cargo and income, but stated only a “few dozen” staff will be actively cut under the process (Radio Netherlands Worldwide, 22-Feb-2010). The airport cut 150 jobs last year, under a reorganisation programme as a result of the global financial downturn.

Schiphol Group: “Traffic and transport via Amsterdam Airport Schiphol is expected to grow slightly in terms of passenger numbers and cargo volume. Similarly, air transport movements are expected to grow barely. With consumer confidence remaining low, the pressure on spending per passenger will continue and this will particularly affect our revenues from concessions, retail sales and parking. In addition, we do not yet expect any recovery of the occupancy or rent levels of our property portfolio…the net result is expected to be approximately in line with the 2009 net result of EUR132 million,” Company statement. Source: Schiphol Group, 22-Feb-2010.

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