2011 Interim Report
(Thomson Reuters ONE) -
Growth and limited cost increase lead to higher net result
* The net result is EUR 97.3 million (2010: EUR 69.2 million);
* The value of property rose by EUR 9.8 million (2010: EUR -8.3 million) and
the net result excluding fair value gains on property amounted to EUR 89.9
million (2010: EUR 75.4 million);
* This net result benefited in particular from a 13.4% growth in passenger
numbers, which resulted in higher revenues from airport charges and higher
retail turnover, while operating expenses, excluding the cost price of the
higher retail sales, rose by 3.2%;
* Revenue was up 10.8% to EUR 604.1 million (2010: EUR 545.0 million);
* EBITDA increased by 34.1% to EUR 258.0 million (2010: EUR 192.3 million) and
the operating result rose by 58.5% to EUR 158.5 million (2010: EUR 100.1
million);
* Earnings per share amount to EUR 523 (2010: EUR 372).
Key developments:
* The external survey by international strategy consultants commissioned by
KLM and Schiphol has been concluded and has led to a better mutual
understanding of the positions and interests of Amsterdam Airport Schiphol
and its most important customers. It offers a good basis for both the
development of pricing policies and the long-term development of the
Mainport, that will involve an ambitious multi-year investment plan;
* Average increase in airport charges of 0.6% per 1 April 2011 and no charge
increase per 1 November 2011;
* Growth at Amsterdam Airport Schiphol (a 12.7% rise in passenger numbers and
a 10.4% rise in air transport movements) is mainly driven by European
destinations and passengers boarding in the Netherlands (up 15.6% versus
8.4% more transfer passengers) and reflects an improved competitive position
in the O&D-market;
* Cargo volumes were up 5.2%, but the growth trend has diminished over the
last several months with a 1.6% decline reported for June. This was mainly
due to a decrease in cargo from and to Asia and in particular China. Volume
trends in cargo often lead passenger growth trends by approximately six
months;
* The outsourcing of business activities as part of the final phase of the
organisation change initiated in 2009 has resulted in a reduction of the
average workforce by 221 FTE to 2,129 FTE;
* Debt refinancing involving nominal EUR 403 million in outstanding bonds
significantly improved the debt maturity profile.
Response by Schiphol Group's President & CEO, Jos Nijhuis:
"Growth figures for traffic and transport are higher than expected, which
translates into good results and the expectation that results for the year as a
whole will be better than in 2010. For instance, this year Amsterdam Airport
Schiphol looks set to welcome a record 49 million passengers. We should remain
cautious, however, given the current geopolitical tensions, turbulence on the
financial markets and the economic slowdown. We are also witnessing a negative
trend in cargo volumes, in particular to China. In the past this proved to be an
early sign of an overall growth contraction. At the same time we are planning
some major steps forward in the long-term development of the Mainport, which
involves an ambitious investment programme."
For the complete press release, see the attached pdf 'Interim Report 2011'
Notes for editors/investors:
* Schiphol Group's Interim Results 2011 are available on www.schipholgroup.com
* Schiphol Nederland B.V. also published its interim financial statements
2011 on www.schipholgroup.com. Schiphol Nederland BV is the legal entity
issuing debt in order to finance Schiphol Group.
Interim Report 2011:
http://hugin.info/132864/R/1541063/471309.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Schiphol Group via Thomson Reuters ONE
[HUG#1541063]
Unternehmensinformation / Kurzprofil:
Datum: 25.08.2011 - 08:00 Uhr
Sprache: Deutsch
News-ID 59110
Anzahl Zeichen: 4712
contact information:
Town:
Schiphol
Kategorie:
Business News
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Die Pressemitteilung mit dem Titel:
"2011 Interim Report"
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