Schiphol Group: Net result down 29% to EUR 132 million
(Thomson Reuters ONE) -
Schiphol, 22 February 2010
* Revenues of EUR 1,154 million remain unchanged compared with 2008
* Operating result down 36% to EUR 187 million (2008: EUR 294 million)
* EBITDA down 18% to EUR 383 million (2008: EUR 466 million)
* Net result attributable to shareholders down 29% to EUR 132 million (2008:
EUR 187 million)
* Net result, adjusted for purposes of dividend calculation, falls 25% to EUR
129 million (2008: EUR 173 million)
* Proposed dividend of EUR 347 per share (2008: EUR 371)
* Financing for 2010 arranged successfully
Summary of the most important activities:
* Mid-2009 saw the start of the organisational change in connection with the
strategy recalibration.
* Capital expenditure declined to EUR 215 million in 2009 (2008: EUR 350
million).
* Total passenger numbers at Amsterdam Airport Schiphol, Rotterdam Airport and
Eindhoven Airport fell 7.7% to EUR 46.3 million. Numbers of passengers
travelling through Amsterdam Airport Schiphol down 8.1% to 43.6 million.
* Operating result of Aviation business area 11.5% lower at EUR 45 million,
mainly as a result of costs rising more than revenues, including costs of
organisational change and additional marketing activities.
* Operating result of Consumers business area down 25.1% at EUR 104 million;
the fall in passenger numbers combined with lower consumer confidence
resulted in lower revenues from retail sales, concessions and parking fees.
* Operating result of Real Estate business area, despite higher rental
incomes, fell by 68.7% to EUR 29 million owing to declining value of
existing property portfolio.
* Operating result (including result on and interest related to investments)
of the Alliances & Participations business area rose by 67.5% to EUR 40
million owing to the acquisition of an 8% stake in Aéroports de Paris.
A word from CEO Jos Nijhuis:
"The unprecedented decline in traffic and transport in 2009 has forced us to
respond swiftly by restructuring the organisation, implementing tighter
cost-saving measures and critically reviewing all our investment plans. In the
end, the effect of the decline in traffic on our results was less negative than
expected at the half year stage. The net result for the full year was much
better than expected, even excluding the non-recurring tax income, as we managed
to reduce more costs than anticipated. We did continue to invest in improving
the quality of our service offering for passengers and in raising reliability
and efficiency for the airlines. Combined with our competitive tariffs, this
strategy has helped us to further strengthen the mainport. In the years ahead we
shall continue along the path we have chosen to pursue our ambition for
Amsterdam Airport Schiphol of being and remaining Europe's preferred airport.
However, given the fragility of the current economic recovery, we expect that in
2010 traffic and transport will show only slight growth. For 2010 we expect a
net result approximately in line with the net result in 2009 as we continue to
keep our structural cost levels under control."
Click the link below to view the full press release:
[HUG#1386900]
Schiphol Group 2009 Full Year Report: http://hugin.info/132864/R/1386900/345394.pdf
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Datum: 22.02.2010 - 02:01 Uhr
Sprache: Deutsch
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