Solid results Schiphol Group - New investments to improve resilience for the future

Schiphol, 15 February 2013

  • Revenue rises by 5.8% to 1,353 million euros (2011: 1,278 million euros);
  • EBITDA increases by 4.4% to 534 million euros (2011: 512 million euros);
  • Operating profit falls by 2.5% to 296 million euros (2011: 304 million euros);
  • The profit after income tax is 199 million euros (2011: 194 million euros); an increase of 2.2%;
  • Return on equity (ROE) remains stable at 6.2% (2011: 6.2%).

Major developments:

  • The number of passengers at Amsterdam Airport Schiphol increased in 2012 by 2.6% to a record high of 51.0 million. The number of air transport movements rose by 0.8% to 423,407. Cargo shows a decrease of 2.6% to 1,483,448 tonnes. The number of destinations went up to 317 (2011: 313), of which 293 for passengers (8 more than last year).
  • From an operating point of view, 2012 was a good year: punctuality improved, the performance of the baggage handling systems was excellent and the quality assessment of Schiphol by passengers was higher than ever before.
  • Employment at Schiphol airport grew to more than 64,000 jobs. At around five hundred, the number of businesses located at Schiphol remained stable.
  • Spending in the shops after passport control increased by 7.3% to 16.69 euro per departing passenger; this is mainly the result of the large-scale renovation of a number of shopping areas and the refinement in the assortment of the shops (more luxury and branded goods in particular).
  • Difficult conditions on the property market were also noticeable at Schiphol airport, but the effects were greater at other Schiphol Group locations. At Schiphol, the occupancy level still increased, thanks to a number of new tenants. Mainly as a result of the reduction in the value of property in Italy and unrealised fair value losses on other investment property at Schiphol, operating profit of the business area Real Estate decreased to 23 million euros in 2012 (was 72 million euros in 2011).
  • Interests in foreign airports contributed highly to Schiphol Group`s result; the share of results of associates increased to 45 million euros in 2012 (36 million euros in 2011).
  • Schiphol is making preparations to enable central security in the non-Schengen area in the future to replace security at the gates. Central security guarantees a much more efficient process, better use of the boarding lounge and gate capacity and more comfort for the passengers. Central security also is implemented in anticipation of new legislation and regulations in the area of security. This is an extensive project that will take several years to complete and requires a number of changes to the existing terminal, such as the construction of an additional floor on piers E, F and G. It is expected that this investment programme of approximately 350 million euros will be completed mid 2015.

Response from Jos Nijhuis, President and CEO Schiphol Group:
"The heart of our Mainport - the network of connections - was further strengthened, while Schiphol also welcomed a record number of passengers. In uncertain times, Schiphol wishes to remain an economic driving force for the Netherlands. That is why I am content with the solid result over 2012. Approximately half of that result will go to our shareholders and the other half enables us to invest in our Mainport. The latter is necessary to keep the capacity and quality up to standard in order to continue optimal service to passengers and airlines in the future. This year we will start the first phase of our Master Plan: the transition to central security at the entire airport. In the longer term, this guarantees a comfortable journey and an efficient travel process."


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information contained therein.

Source: Schiphol Group via Thomson Reuters ONE

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