15/06/2012

EuroAirport records very satisfactory results in 2011 and further reduction of its net debt

For 2011, EuroAirport reports a turnover of 101.3 million euro, an increase of 17.4% in comparison to the previous year. This positive development can be attributed to two factors increased passenger figures reaching an all-time high of 5.05 million and the effects of a positive exchange rate due to the strong Swiss franc.

Aeronautical revenues account for 47% of turnover increasing by 21.4% compared to 2010. Nonaeronautical revenues show an increase of 14%. Because of economic difficulties in the industrial sector,rents and industrial services have stagnated if the effect of exchange rates is not taken into account. Onthe other hand, revenues from retail and parking have increased in line with the growth in passengers.
By exercising a continuous strict control on operating costs, these could be maintained at 59 million euro compared with 52.9 million in 2010. One of the reasons for this good result was the favourable weather conditions in the winter (very little snow clearance).

Net debt dropped from 93.6 million to 66.2 million euro (-27.3 million euro in comparison to 2010). As a result, the net debt/cash-flow ratio decreased from three to 1.7 years, providing EuroAirport with the necessary leeway to make investments needed over the next few years.

In 2011, investments remained at the usual level of 16 million euro.

In the first five months of 2012, EuroAirport was used by 1.9 million passengers. This corresponds to a rise of 9% in comparison with the figures from the previous year. For the same period (January to May 2012), the number of movements (starts and landings) increased by 1%.

At the end of 2011, EuroAirport forecasts passenger figures of 5.2 million corresponding to an increase of 3%.

The EuroAirport 2011 Annual Report can be consulted or downloaded on www.euroairport.com, under EuroAirport Request for documentation Annual Report 2011 or printed copies can be ordered from the Communications Department.