Schiphol Group revenue up 2.3%, net profit up 28% in 2010
Netherland's Schiphol Group revenue up 2.3% - financial highlights for the 12 months ended 31-Dec-2010:
- Revenue: EUR1180 million, +2.3% year-on-year;
- Aviation: EUR697 million, +1.4%;
- Operating profit: EUR297 million, +58.6%;
- EBITDA:
- Aviation: EUR180 million, +2.7%;
- Profit before tax: EUR239 million, stable;
- Net profit: EUR169 million, +27.9%;
- Passenger numbers: 48.3 million, +4.5%;
- Cargo volume: 1.5 million, tonnes, +17.6%;
- Aircraft movements: 415,883, -0.7%;
- Total assets: EUR5506 million, -0.4%;
- Cash and cash equivalents: EUR304.2 million, -42.0%;
- Total liabilities: EUR2397 million, -6.1%. [more]
Schiphol Group: "We expect further growth in various areas in 2011. Traffic and transport volumes via Amsterdam Airport Schiphol are projected to grow 4% to 7% in number of passengers and air transport movements. Also a rise in cargo volumes is expected. In view of the recovery of consumer confidence, it seems reasonable to predict an increase in spend per passenger. We nevertheless remain cautious in this respect, because the question remains whether this recovery is permanent and how it will impact on our revenue from concessions, retail sales and parking fees. With retail areas in the airport terminal currently in a remodelling phase, per passenger spending is likely to experience some temporary pressure," Company statement. Source: Schiphol Group, 17-Feb-2011.