Sharp passenger growth and increased capital spending
The number of passengers at Swedavia’s airports was up seven per cent during the quarter, compared to the same period in 2015. Net revenue totalled SEK 1,299 M (1,299). Profit for the period was SEK 87 M (88). Revenue and profit were positively affected by this passenger growth, while the sale of properties last year entailed a loss in revenue and earnings during the first quarter.
Passenger growth at Swedavia’s airports was strong during the period, as it was in other European countries. The Group’s airports had a total of 8.6 million passengers, which corresponds to growth of 7.0 per cent compared to the same period last year. The number of international passengers increased 8.8 per cent, while the number of domestic passengers increased 4.0 per cent.
“Passenger growth is driven by greater demand among Swedes as well as by the fact that more and more travellers are choosing Sweden as a destination. This trend is also spurred by airlines investing in routes, especially to the US market,” says Karl Wistrand, chief executive of Swedavia.
Swedavia’s net revenue of SEK 1,299 M (1,299) was the same as for the first quarter of 2015. This is explained by the increase in passenger volume, which entailed an increase in revenue, while rental income fell as a result of the sale of properties to Swedavia’s joint venture with Alecta. Profit for the period, SEK 87 M (88) was also on a par with last year.
On January 1, the environmental permit for Stockholm Arlanda Airport was put into effect. Since then, investment at the airport has intensified. Capital spending for the period totalled SEK 252 M (171). The aim of the investment programme now launched is to enhance the airport’s capacity and thus its role as a hub for travel within Sweden as well as to and from the country.