NETHERLANDS. Schiphol Group has reported a solid +2.8% year-on-year rise in revenues from its Consumers Business Area in H1 2010, to €137.6 million. The Consumers division handles all commercial activities for the group.
Crucially, average spend in the See Buy Fly shops rose by +3.4% to €15.74 in the half. Overall, the division’s revenues were buoyed by higher passenger numbers and increased spend, though the volcanic ash cloud crisis in April and May hit Consumers Area revenues by €2.7 million, said Schiphol Group.
Also in the Consumers Business Area, car parking came under pressure during the period, noted the group, with competition from other modes of transport and from other parking options around the airport. Parking revenues fell by -0.8% to €37.7 million.
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The division’s operating profit leapt by +58% to €61.3 million. The Consumers Business Area accounted for 23% of Schiphol Group’s total revenues and 61% of its operating result.
Revenue for the group as a whole hit €545 million in the half, down by -1.5%, though profits surged by more than +200% to €69.2 million.
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The volcanic ash cloud resulted in around 690,000 fewer passengers (1.5% of the annual volume), 6,500 fewer air transport movements, and a negative effect of about €12 million in revenues and €15 million on the operating result.
Schiphol Group President & CEO Jos Nijhuis said: “We are reasonably satisfied with the results achieved. The organisational change programme is going according to plan. Despite the negative effects of the ash cloud, there is net growth in the number of passengers and in cargo volumes. Our consumer revenue growth has outpaced growth in number of passengers. Spend per passenger is increasing as well. The quality of the rental income from our first class real estate portfolio is stable and the unrealised fair value losses appear to be bottoming out.”
Passenger numbers will grow by around +1.5% to +2% in 2010, predicted the company.
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New zones such as the Holland Boulevard will further boost Schiphol Group’s non-aeronautical activities |
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