Schiphol continues to invest

Annual Results 2014 Schiphol Group

Today, Schiphol Group is presenting its annual results for 2014. Revenue increased by 8.1%, from 1,364 million euros in 2013 to 1,474 million euros in 2014. Excluding the rise in revenue by 52 million euros resulting from increasing its interest in property fund AREB C.V. to 100%, the rise amounted to 4.2%. Adjusted for the effects of this increase, total operating expenses decreased by 0.7%. The net result amounted to 272 million euros in 2014 against 227 million euros in 2013. In 2014 Schiphol invested 396 million euros in fixed assets.

The airport charges will decrease by approximately 7% with effect from 1 April 2015. In addition, an amount of approximately 35 million euros must be settled in the airport charges with effect from 1 April 2016, in accordance with the Aviation Act, mainly due to the better than expected development in passenger volumes and lower depreciation charges in 2014.

Schiphol Group President and CEO Jos A. Nijhuis: 'These are healthy results which enable us to continue to invest in the Mainport. Increasing competition forces us to remain alert and to make further investments in the quality and capacity of Schiphol. Examples include the completion of the central security project in the non-Schengen area in 2015 and the A Area development of a new terminal and pier. We will also reduce the airport charges and keep them at a very competitive level. In addition to reducing costs, we are working hard to further improve efficiency and quality levels, for which we maintain a constructive dialogue with our business partners. In this way we all contribute to strengthening the Mainport and its hub function.’

Key developments

• Our airports have yielded excellent operational performance.

• Schiphol Group achieved sound financial results thanks to the growth in passenger volumes and its cost control efforts.

• Passenger volumes at Amsterdam Airport Schiphol increased by 4.6% to 55 million. KLM and its partners account for most of this increase. Air transport movements at Amsterdam Airport Schiphol rose by 3.0% to 438,000. Schiphol Group as a whole, including its regional airports, welcomed 60.6 million passengers (+5.3% compared with 2013) and handled 484,250 air transport movements (+3.3% compared with 2013).

• Cargo volumes increased to 1.6 million tonnes (+6.7%).

• Schiphol achieved an energy efficiency level of 2.7% in 2014. The target has been raised from 2% to 4%.

• Construction work for the installation of central security in the non-Schengen area, the renovation of Lounge 2 and the new Hilton Hotel is in full swing. The redevelopment of The Base, an innovative office complex, is nearing completion.

• Due in part to renovation projects, developments in online retail and congestion during peak hours average retail spending per departing passenger in the shops behind passport control at Amsterdam Airport Schiphol fell from 15.89 to 14.48 euros. This is exerting downward pressure on concession income and retail sales. Parking revenues are increasing.

• In 2014, Schiphol acquired a 100% stake in property fund AREB C.V., leading to full control of a portfolio of 17 strategic properties at Schiphol.

• Schiphol Group saw the occupancy rate of its total real estate portfolio improve and reach 88.4% as at year-end 2014 (2013: 86.3%).