Swedavia posts profit in H1 2019 results

Darren Wood
By Darren Wood July 18, 2019 10:41

Swedavia posts profit in H1 2019 results

Swedish airports operator Swedavia, which manages 10 airports across the country, has reported that its profit for the first half of 2019 stood at SKR259 million ($27.6 million), down 12% from SKR294 million ($31.4 million) in the same period a year ago, which the company has blamed on a weak Swedish krona.

During the first half, the group generated SKR3.1 billion in revenue, up 7% year-over-year (YOY) from SKR2.9 billion.

Meanwhile, its operating profit increased 5% from the same period last year to SKR331 million.

The number of passengers at Swedavia’s 10 airports totalled 19.6 million in the period January-June, which is a 4% decrease compared to the same period last year.

Swedavia’s first half was also dominated by new investments and its own operations in the face of climate change. The company promotes the use of renewable jet fuel and has set a target of zero fossil emissions for all 10 of its airports by 2020. Three of Swedavia’s airports have already hit the target.  

Swedavia president and CEO Jonas Abrahamsson said: “Our task is to safeguard and develop the access Sweden needs in a sustainable way. But growth and competitiveness are also important to successfully tackle the challenge of climate change in the long term.”

The company has announced it will invest SKR17 billion in Stockholm Arlanda Airport through 2025.

Darren Wood
By Darren Wood July 18, 2019 10:41