Schiphol satisfied with 2011

More destinations and increased market share

  • Net revenue grew by EUR 98 million to EUR 1,278 million (2010: EUR 1,180 million);
  • EBITDA up 6.0% to EUR 512 million (2010: EUR 483 million);
  • The net result is EUR 194 million (2010: EUR 169 million) and earnings per share amount to EUR 1,045 (2010: EUR 908);
  • Dividend at EUR 524 per share, with total dividend distribution amounting to EUR 97 million;
  • Return on equity: 6.2% (2010: 5.6%)

Key developments:

  • Passenger numbers rose by 10.0% to a record 49.8 million; the network of direct connections was expanded to a total of 313, including 12 new destinations primarily thanks to AF-KLM;
  • Mainport Schiphol's competitive position was visibly strengthened with a greater market share for Amsterdam Airport Schiphol, now back in place as Europe’s fourth-largest airport after Heathrow, CDG-Paris and Frankfurt;
  • Cargo volumes grew for the year as a whole (+0.8%), though during the last six months there was a slight decline;
  • A better than expected result of approximately EUR 15 million for Aviation, mainly due to the fact that passenger numbers exceeded estimates at the time of the consultation, will be repaid to the airlines;
  • Operating result from Consumer Products & Services increased by more than 10%;
  • Real Estate shows a stable development and improved occupancy levels;
  • Trend in results posted by regional airports and international activities is positive;
  • The reorganisation initiated in 2009 has now been virtually completed. In 2011, the average workforce was reduced by 213 FTE to 2,115 FTE;
  • The refinancing of a nominal EUR 403 million in bonds resulted in a significant increase in the average term to maturity.

Response from Jos Nijhuis, Schiphol Group President:

“In these economically turbulent years, it is all the more important that the Netherlands can rely on its Mainports. Amsterdam Airport Schiphol wants to help strengthen the Netherlands’ competitive potential. That is why I am pleased with the developments in 2011. Together with the airlines we welcomed a record number of passengers. Our network of international connections was further expanded and we saw our European market share grow. Punctuality improved and 93% of our passengers rate our airport as ‘good to excellent’.

However, our capacity is strained on peak days. In order to address this situation, we will work with our partners to expand our capacity and further improve quality. This will allow us to keep providing our customers with the level of service they expect while safeguarding our competitive position.”