EuroAirport in 2013: Another increase in turnover, net debt at an all-time low

EuroAirport enjoyed another successful business year in 2013. The bi-national airport in the three-country region reported a turnover of 109 million euros, an increase of 2.4% compared with the previous year. Factors accounting for this growth include the use of aircraft with greater capacity, better seat occupancy, extension of the airport's flight offering and additional flights to existing destinations.

Income from aeronautical operations increased by a modest 3.3% compared with 2012. The positive impact of the increase in traffic was somewhat curbed by reductions in a number of  airport taxes and the  trend of the exchange rate euro/Swiss franc. Non-aeronautical income rose by 1.5%: while revenues from retail and parking increased in tune with the development of passenger numbers, rents declined by 5%.

Operating costs increased by 5.1 million euro (+7.5%). This also includes total payroll costs which rose by 2.8 million euro.  At the end of 2013, the size of the workforce had increased accordingly by 23 to 298 full-time equivalents. This increase was necessary and is attributable to the strong rise in passenger numbers over a period of several years.

The financial result improved greatly thanks to investment products and smaller exchange rate losses than in 2012. At the end of 2013, EuroAirport posted an annual net result of 21.3 million euro. Cash flow amounted to 40.4 million euro, up 3.5 million euro compared with 2012.

Net debt declined to 17.6 million euro (–16.5 million euro compared with 2012). The net debt/cash flow ratio declined from 0.9 to 0.4 years. Since 2002, EuroAirport has succeeded in lowering its net debt by 153 million euro. This healthy financial situation makes it possible to launch important investments in development, planned for the upcoming years.

In 2013, capital spending remained at a high level of 26.7 million euro. The most important investments concerned the on-going work on future freight infrastructure for the new Cargo Terminal in Zone 4 and the work done to expand the northern apron.

In the first four months of 2014, EuroAirport was used by 1.7 million passengers. This represents an increase of 6% over the same period in the previous year. The number of flight movements (take offs and landings) rose by 1% in the same period (January to April 2014).

EuroAirport anticipates passenger growth of around 8% (5.8 million) by the year end.

The Annual Report 2013 can be consulted or downloaded at www.euroairport.com, under “EuroAirport – Request for documentation – Annual Report 2013” or printed copies cand be ordered from the EuroAirport Communication department.