Swedavia’s interim report for January–June 2024: More passengers and increased commercial revenues helped to increase net revenue, improve the operating income and strengthen cash flow
More international passengers and increased commercial revenues at Swedavia’s airports had a positive impact on net revenue in the second quarter, despite ongoing uncertainty in the macroeconomic situation. Net revenue continued to increase and amounted to SEK 1,674 M (1,539) in the second quarter. Cash flow from operating activities strengthened further and amounted to SEK 297 M (SEK 164 M) in the second quarter. The operating income continues to improve and amounted to 167 M, an improvement with 162 M compared to previous year. Profit before tax was once again positive and amounted to SEK 96 M in the second quarter.
During the second quarter, 8.8 million people flew to or from Swedavia’s ten airports, which is an increase of almost one percent compared with the same period last year. During January–June 2024, 15.6 million passengers flew via Swedavia’s airports. This represents an increase of almost one percent compared with the first half of 2023. This increase is driven by continued strong international travel, mainly in Europe and primarily via Stockholm Arlanda Airport and Göteborg Landvetter Airport. While international travel was on an upward trend, domestic travel continued to decline during the second quarter.
“During the second quarter, an increase in the number of international passengers, fee adjustments and an improved commercial offering led to an increase in net revenue of SEK 134 M compared with the corresponding period last year. The operating income continues to improve and amounted to 167 M, an improvement with 162 M compared to previous year. Cash flow from operating activities also increased by SEK 133 M to SEK 297 M. It is also pleasing to once again be able to report a positive profit before tax for the second quarter of SEK 96 M,” says Jonas Abrahamsson, President and CEO of Swedavia.
Net revenue for the second quarter was SEK 1,674 M (SEK 1,539 M), which is an increase of 9 percent compared with the same period last year. Cash flow from operating activities for the second quarter was positive at SEK 297 M (164), an improvement of SEK 133 M compared with last year. The operating income continues to improve and amounted to 167 M, an improvement with 162 M compared to previous year. In the second quarter, Swedavia once again reported a positive profit before tax of SEK 96 M.
Airlines have continued to invest in new traffic through Swedavia’s airports. This year's summer traffic program includes 25 new routes, of which 17 are new routes from Stockholm Arlanda Airport and 8 new routes from Göteborg Landvetter Airport. In addition, there are investments in charter flights during the summer at four of Swedavia’s airports: Malmö Airport, Luleå Airport, Umeå Airport and Åre Östersund Airport. Air Canada’s investment in traffic to both Montreal and Toronto via Arlanda will strengthen intercontinental traffic between Sweden and the whole of Canada and North America.
“For several years, we have invested heavily to further improve the passenger experience at our airports. The commercial offering is constantly developing, the airlines have continued to strengthen the range of routes and destinations available, and our operational flows are more efficient. These investments have been welcomed by our passengers and have helped to strengthen customer satisfaction,” says Jonas Abrahamsson.
The focus on enhancing the commercial offering at Swedavia’s airports continued during the year, with the majority of new concepts launched at Arlanda’s new marketplace.
Swedavia AB (publ) is required to disclose the information in this Interim Report under the EU Market Abuse Regulation and the Securities Market Act. The information was provided by the contact person below for publication on July 17, 2024, at 1.00 P.M. CEST.
For further information, please contact Ellen Laurin, Acting Head of Media Relations, at Swedavia, or Swedavia’s press office at tel. +46 (0)10 109 01 00 or press@swedavia.se
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