Annual Results 2015 Schiphol Group
Schiphol blijft groeien
Today Schiphol Group is presenting its results for 2015. Major contributing factors were the considerable growth in passenger numbers, the large network of destinations and the financial solidity.
Revenue fell by 1.0% to 1,423 million euros, with the effect of the 6.8% decrease in airport charges as of 1 April 2015 being fully compensated by the increase in traffic and transport volumes. The net result was 374 million euros (2014: 272 million euros). The result for 2015 includes three positive special items. The result includes an amount of 67 million euros from the revaluation of real estate and a result of 50 million euros on the sale of an interest in Schiphol Airport Retail. In addition, the result includes an amount of approximately 55 million euros that will be settled in the airport charges per 1 April 2017 (2014: 35 million euros). In 2015 Schiphol invested 439 million euros in fixed assets (2014: 396 million euros).
Its network and the destinations served by the airlines make Schiphol one of Europe's key hubs. Passenger numbers are growing fast and we want to continue accommodating and facilitating that growth. As we are rapidly approaching the limits of our peak capacity, it is absolutely essential for us to invest in strengthening, improving and enhancing our infrastructure, quality and accessibility. Thanks to our solid financial position we are able to respond effectively to international competition while continuing to offer competitive airport charges.
Key developments
- Schiphol Group posted solid financial results thanks to the growth in passenger numbers and effective cost control. Adjusted for the special items the return on equity is at a normal level of between 6% and 7%.
- The number of passengers at Amsterdam Airport Schiphol rose in 2015 by 6.0% to 58.2 million, while the number of air transport movements rose by 2.8% to 450,697. The total number of passengers served by Schiphol Group, including the regional airports, amounted to 64.3 million (+6.1% relative to 2014) and the total number of air transport movements amounted to 498,580 (+3.0% relative to 2014).
- The number of direct destinations was 322 (323 in 2014), of which 134 were intercontinental destinations (2014: 132). In all, 109 airlines operated flights from Schiphol to 95 countries.
- Effective 1 April 2016, the airport charges will be further reduced by 11.6%.
- On 3 June 2015 we made the transition to central security in the non-Schengen area. The extensive renovations began in 2013 and will be completed in 2016.
- The large-scale renovation of Lounge 2 will be completed in the coming months. Due in part to these renovation projects and congestion at peak times, the average retail spend per departing passenger in the shops beyond security control at Amsterdam Airport Schiphol dropped slightly, from 14.48 euros to 14.45 euros. The revenue from food & beverage increased however. Parking revenues were also up.
- The new Hilton Hotel at Amsterdam Airport Schiphol opened its doors in December 2015.
- The change in the value of the real estate portfolio was 67 million euros positive, reflecting the improving market for commercial real estate at and around Schiphol as well as the effect of low interest rates. The occupancy rate of Schiphol Group's total real estate portfolio has improved further and is currently at 88.3% (2014: 87.1%).
- The share in results of associates rose from 27 million euros to 60 million euros.
- Average CO2 emissions per passenger were 1.65 kg, compared with 1.72 kg in 2014.