10/08/2017

Solid financial result in 2016 for EuroAirport: Turnover of 133.2 million euro, negative net debt

EuroAirport posted a solid financial result in 2016. The binational airport in the trinational region reported a turnover of 133.2 million euro with a net profit of 24.8 million euro. Net debt amounted to minus 7.6 million euro.

EuroAirport closed the 2016 financial year with a turnover of 133.2 million euro. The decrease of 2.5 % on 2015 (136.6 million euro) is due mainly to the reduction in airport charges as a result of the strong Swiss franc and exchange rate fluctuations.

EuroAirport posted a net profit of 24.8 million euro for financial year 2016. This figure takes into account taxation on the airport's profit in line with the agreement signed by France and Switzerland on 23 March 2017. This corporate tax of 6.9 million euro will be paid out in equal parts to France and Switzerland.

At 83.5 million euro, operating expenses rose by 2.4 million euro (+ 3 %). The sharp rise in expenses for security measures (+ 6.3 % or 0.8 million euro) owing to the extended state of emergency in France contributed to this trend. This was compounded by higher costs for studies relating to the airport's long-term development plan and EuroAirport's participation in financing the preliminary studies regarding the consultation process for the rail link.

Owing to the good economic performance and delayed due date for the corporate tax, net debt amounted to minus 7.6 million euro. This situation will change in the years to come as EuroAirport will have to take out loans for the necessary investments in the maintenance and development of its infrastructure. However, this will not pose a threat to the airport's solid financial position.

In 2016, regular capital spending was high at 50 million euro. Major investments in 2016 comprised key activities in four areas: the development work for the new parking spaces (Park & Ride North and South, car park F4), the refurbishment of the forecourt on level 2 of the French and Swiss sides, the gradual commissioning of the new baggage sorting system, and renovation of the warehouses and offices in the express freight terminal.

Over 4.4 million passengers used EuroAirport in the first seven months of 2017, corresponding to an increase of 6 % compared with the same period in the previous year. In the same period (January to July 2017), the number of flight movements (take-offs and landings of scheduled and charter flights) rose by 1.3 %.

EuroAirport is expecting a rise in passenger numbers of 4 % to 7.6 million by the end of 2017. Freight traffic is expected to remain around 100,000 tonnes.


Link to the 2016 Annual Report: https://www.euroairport.com/en/about-us/documentation.html

Link to EuroAirport statistics: https://www.euroairport.com/en/about-us/statistics.html