Net result decreased slightly by 2.9%

Schiphol takes additional measures to accommodate passenger growth

Interim Results 2017 Royal Schiphol Group

Today, 25 August 2017, Royal Schiphol Group publishes its interim figures. Over the first half year of 2017, the net result is 2.9% lower than in the same period in 2016, amounting to 117 million euros (HY 2016: 121million euros). This is in line with the published outlook.

Royal Schiphol Group President and CEO Jos A. Nijhuis: ‘In collaboration with the airlines, we have developed Schiphol into one of the world's best connected airports. This will enable around 68 million passengers to travel via Schiphol this year. This joint effort signifies a substantial contribution to prosperity and well-being in the Netherlands. The temporary departure hall and a range of investments at airside provide additional capacity. We will also continue taking extra measures at peak times, just as we’re doing this summer holiday season. This is necessary in order to prevent operational bottlenecks at peak moments as witnessed during the May holidays. In addition, we are investing in a new pier and terminal. Their construction is well under way and scheduled for completion in 2019 and 2023 respectively. It is also essential to arrive at a forward-looking agreement framework in the short term for the sustainable development of Amsterdam Airport Schiphol beyond 2020 while maintaining the balance with our environment. This will enable us to secure our current position and continue making a valuable contribution to the Netherlands.’

The slight decrease in the net result is mainly attributable to the decrease in revenue from airport charges. At Amsterdam Airport Schiphol, revenue from airport charges decreased by 2.4% as a result of a reduction by 7.1% as of 1 April 2017 and 11.6% as of 1 April 2016. The decrease in revenue is partly compensated by the increase in passenger numbers (+8.6% at Amsterdam Airport Schiphol). Operating expenses excluding depreciation and amortisation increased by 6.5% to 439 million euros, mainly caused by the substantial growth in passenger numbers and the additional operational measures to streamline this growth. Depreciation and amortisation increased by 4.7% from 118 million euros to 123 million euros, partly due to the completion of the temporary departure hall. In addition, the increase in the fair value of the real estate portfolio had a positive effect of 24 million euros (HY 2016: 15 million euros).

Key developments
• The number of passengers at Amsterdam Airport Schiphol increased by 8.6% to 32.2 million. The number of air transport movements at Amsterdam Airport Schiphol rose by 4.9% to 239,804. Cargo volumes increased to 866,713 tonnes (8.7%).
• During the May holidays, a number of operational bottlenecks emerged in the terminal at peak hours. We responded by taking additional operational measures to further streamline passenger flows in the summer.
• The temporary departure hall was officially opened on 3 April 2017. Processing approximately 2 million passengers on an annual basis, this hall will enable Schiphol to absorb part of the substantial growth in the number of passengers to Schengen destinations.
• Average retail spending per departing passenger in the shops behind the security checks at Amsterdam Airport Schiphol fell from 13.70 euros to 13.37 euros (-2.4%). Average spending per passenger in hospitality rose from 4.31 to 4.55 euros (+5.6%).
• The occupancy rate of Schiphol Group’s total real estate portfolio was 88.6% as at 30 June 2017 (HY 2016:87.3%).
• The number of passengers at Eindhoven Airport increased by 32.2% to 2.7 million passengers.
• For a period of 15 years starting in 2018, Schiphol will meet all its energy requirements with power from Dutch wind farms. To that end, all the Dutch airports of the group have signed a contract with energy supplier Eneco.

For the complete press release on Royal Schiphol Group’s Interim Results see PDF.