Swedavia's interim report for January-March 2019: Stable profit and a focus on more effective solutions
2019-04-17, kl. 16:59
Swedavia's first quarter of 2019 was characterised by continued work to ensure the company's long-term competitiveness and achieve the target of having its own operations be fossil-free by 2020. Swedavia also continues to work for the transformation that the air transport industry needs to be fossil-free by 2045, with further investments in bio jet fuel.
The number of passengers at Swedavia's ten airports decreased 4.2 per cent during the first quarter of the year to 8.9 million compared to the same period last year. The trend has reversed after numerous years of good growth. Meanwhile, access further improved during the quarter, with the establishment of new airlines and some twenty new routes announced so far this year.
"Swedavia's objective remains clear. We shall be a leader in sustainability and ensure access in Sweden and to the rest of the world. At the same time, we shall continue to be a role model in running and developing sustainable airports, with smooth, effective solutions for our passengers," says Jonas Abrahamsson, Swedavia's president and chief executive officer.
Swedavia reported revenue of nearly 1.5 billion Swedish kronor (1.4) and operating profit of 70 million kronor (58) for the quarter. Increased revenue from airport operations and lower external operating costs had a positive effect, while depreciation, amortisation and staff expenses had a negative effect.
"Since the autumn of 2018, we have been working to make our methods more effective, be more cost-effective and gradually fine-tune our process-oriented approach to create better collaboration, both within the organisation and with our customers,"Jonas Abrahamsson notes.
For a number of years, Swedavia has been carrying out extensive development and investment programmes, in line with its mission to ensure access, which is crucial to Sweden's competitiveness and economic growth. The programmes are proceeding according to plan, and during the quarter the new airport maintenance area at Stockholm Arlanda Airport was inaugurated.
"Capacity at our airports has been really strained for many years, so for many years we have been carrying out extensive investment programmes in order to meet these needs," adds Jonas Abrahamsson.
Swedavia has the objective of running operations with as little impact on the climate as possible. Among other things, this means that all of its airports' own operations shall be fossil-free by 2020. So far, Visby Airport, Ronneby Airport and Luleå Airport have achieved this target.
"This year and next year, the seven other airports will also achieve this target. Since the summer of 2018, we have therefore added another sustainability target and are working so that the share of renewable jet fuel used at Swedish airports will be five per cent by 2025 at the latest, in line with international agreements on climate change," says Jonas Abrahamsson.
The full interim report is available on Swedavia's website:Swedavia - financial information
April 17, 2019
For further information and for interview requests, please contact Robert Pletzin, press officer, Swedavia, +46 (0)10-10 90 100
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 above for publication on April 17, 2019, at 5:00 p.m. CET.