SWITZERLAND. Zürich Airport has posted a +10.6% year-on-year increase in 2019 non-aviation revenues to CHF548.6 million (US$578.9 million).
As reported, revenue from commercial operations increased +1.3% to CHF601.4 million (US$634.6 million) for the year. This translated into commercial income to the airport (from retail, duty free and food & beverage) of CHF134.3 million (US$141.7 million), up +3.1% year-on-year. The average concession rate was 22.3%.
Total revenue for the airport overall rose +5% to CHF1,210.1 million (US$1,278.6 million). Excluding one-off effects, profit increased +9% to CHF309.1 million (US$326.1 million) and EBITDA rose +2.1% to CHF641.8 million (US$677.2 million).
The airport operator said the strong performance came as a result of solid passenger growth, increasing commercial revenues and the full consolidation of its international business.
In an address to shareholders, Chairman of the Board of Directors Andreas Schmid and CEO Stephan Widrig said: “Although we experienced slower growth than in recent years, we can look back on a successful financial year. At around 31.5 million, once again we hit an all-time record in passenger numbers. We were again able to cope with these high traffic volumes thanks to forward planning, a motivated workforce and the professional cooperation of all the airport’s partner companies.”
Zürich Airport said the COVID-19 outbreak would negatively impact 2020 earnings, but that it is too early to estimate the overall effect. As a result, the airport did not provide an outlook or estimate for its 2020 performance.
