Swedavia publishes its Annual and Sustainability Report for 2019
2020-03-27, kl. 11:06
Swedavia’s Annual and Sustainability Report for 2019 is available as of Friday on Swedavia’s website. The report describes Swedavia’s sustainability work and performance during the year as well as its financial position at year-end. The beginning of 2020 has been dominated by the Covid-19 virus and a dramatic downturn in traffic and passenger volume.
The year 2019 was characterised by a decrease in passenger volume at Swedavia’s ten airports for the first time in a decade. Despite this trend, Swedavia posted a stable operating profit of more than 700 million Swedish kronor. The year also entailed continued investments in Swedavia’s climate change adaptation and in that of the aviation industry but also investments in line with Swedavia’s mission to provide access.
“Aviation is a meetings industry. Those of us who work in this industry enable people around the world to meet, exchange ideas and trade with one another. Our operations are vital to a sparsely populated, export-dependent country like Sweden. Meanwhile, the industry faces great challenges, and we at Swedavia are working with great focus and intensity to meet them,” writes Jonas Abrahamsson, president and CEO of Swedavia, in the Statement of the President and CEO in the company’s Annual and Sustainability Report.
The beginning of 2020 and developments around Covid-19 have entailed a steep decline in air traffic and passenger volume and thus also a significant negative impact on Swedavia’s revenue.
To reduce the negative economic consequences, Swedavia is carrying out an action programme, which includes short-term lay-offs and notification of redundancies, cost-saving measures and a review of the company’s investment portfolio.
For Swedavia, these developments have entailed a very sharp decrease in the number of both aircraft movements and passengers at its airports and thus a very sharp decrease in Swedavia’s revenue from airport operations. To reduce the negative economic impact, among other steps Swedavia is carrying out short-term layoffs, cost-cutting measures and a review of its investment portfolio.
In Swedavia’s opinion, it is very difficult at present to predict the continued trend in demand for air travel in the short term and how this could affect Swedavia’s long-term forecast.
The Annual and Sustainability Report in Swedish can be downloaded at www.swedavia.se/om-swedavia/finansiell-information/.
The English version of the Annual and Sustainability Report will be available on Swedavia’s website in late April.
The report is a combined Annual and Sustainability Report in accordance with generally accepted rules and standards. The Sustainability Report is produced in accordance with the Global Reporting Initiative (GRI)’s standards.
For further information: Please contact Robert Pletzin, press officer at Swedavia, or Swedavia’s press office at tel. +46 (0)10-109 01 00 or email@example.com.
This is information that Swedavia AB (publ) is required to disclose under the EU Market Abuse Regulation and the Securities Market Act. The information was provided for publication on March 27, 2020, at 11:00 a.m. CET.