24/06/2011

EuroAirport records satisfactory results in 2010 nd further reduction of its net debt

For 2010, EuroAirport reports a turnover of 86.3 million euro, an increase of 11.5% in comparison to the previous year. The combined impact of an upturn in traffic (7% more passengers and 27% more freight) and the strength of the Swiss franc explain this encouraging development.

 

Aeronautical revenues account for 46% of turnover increasing by 12.7% compared to 2009 at constant prices. Non-aeronautical revenues show an increase of 10.5%, with commercial and car park revenues increasing twice as much as the revenue from rents and industrial services. 

 

By exercising a strict control on operating costs, these could be maintained at 2009 levels (52.9 million euro). This good result was achieved despite major expenditure for snow-clearing (1.1 million euro) which allowed services to run almost as normal (19 hours cumulative runway closure in 2010).

 

In addition, improved energy efficiency across the platform resulted in reduced consumption rates, compensating for the increase in energy prices. Personnel levels remained more or less stable in 2010. The regression in the financial result is linked to a provision allocation for exchange losses on liabilities in Swiss francs.
At 30.8 million euro, cash-flow increased significantly in comparison with 2009 (24.6 million euro).

Net debt dropped to 93.6 million euro despite a strong Swiss franc at the end of the fiscal year (-5.9 million euro in comparison to 2009).
As a result, the net debt/cash-flow ratio decreased from four to three years, providing EuroAirport with the necessary flexibility to make major investments in development over the next few years.

In 2010, investments remained at the fairly modest level of 9 million euro.

 

In the first five months of 2011, EuroAirport was used by 1.8 million passengers. This corresponds to a rise of 30% in comparison with the figures from the previous year. For the same period (January to May 2011), the number of movements (starts and landings) increased by 19%.  At the end of 2011, EuroAirport forecasts passenger figures of 4.8 million corresponding to an increase of 17%.

 

In 2011, EuroAirport offers flights to the following new destinations: Bejaïa, Berlin-Tegel, Copenhagen,  Dresden, Edinburgh, Enfidha, Malta, Moscow, Nador, Tel Aviv and Venice.

 

The EuroAirport 2010 Annual Report can be consulted or downloaded on Autoportrait|EN" linkType="page">www.euroairport.com, under “EuroAirport – Request for documentation – Annual Report 2010” or printed copies can be ordered from the Communications Department.