NETHERLANDS. Royal Schiphol Group reported a +5.6% year-on-year rise in revenue to €1.33 billion for the six months ended 30 June, as the underlying operating result from its commercial division increased +13.6% to €142 million.
The Dutch airport company attributed the €17 million improvement to higher rent levels and parking revenues, alongside enhancements to the terminal commercial offer.
These included the redevelopment of Lounge 1 and the opening of the flagship store for Today Duty Free, the first store launched by the joint venture between Lagardère Travel Retail and Schiphol Group.
Reported concession revenue fell -9.7% to €112 million. The comparison reflects the deconsolidation of airport retailer Kappé in May 2025, with the prior-year figure including Kappé retail revenue from January through April.
Excluding the deconsolidation of Kappé, concession revenue rose +22%, supported by the redevelopment of Lounge 1 and the introduction of new retail concepts.
Revenue from rents and leases increased +7.8% to €124 million, mainly due to higher rental levels, while parking revenue advanced +4.5% to €92 million.
Total revenue from the commercial division stood at €347 million, compared with €351 million in the first half of 2025.
Across the group, underlying EBITDA increased +1.7% to €484 million and underlying operating result rose +6.5% to €297 million.
Royal Schiphol Group invested €801 million in its airports during the six-month period, up from €475 million a year earlier.
The expenditure included work to address overdue maintenance, completion of Pier A, additional electricity capacity and the relocation of KLM facilities under the Schiphol Centre Master Plan.
According to the company, financial performance was affected by severe winter weather at the beginning of the year and restrictions on air traffic linked to the war in the Middle East.
Schiphol introduced a temporary discount of more than 10% on daytime airport charges from 27 April in response to the sharp increase in airline fuel costs. The measure had a €37 million negative impact on the group’s first-half results.
Royal Schiphol Group CFO Robert Carsouw said: “We are investing more than ever in the quality of our airports. To keep Dutch aviation strong, we continue to keep the right balance between affordability and connectivity.
“That is why we introduced a temporary discount on airport charges for airlines in response to the sharp rise in kerosene prices.
“In doing so, we are helping to ensure the Netherlands remains connected, even in an uncertain geopolitical situation. The reality, for now, is that we are spending more than we earn.
“Through a successful bond issue, we secured the additional funding needed to support our investment programme. Strong finances remain essential to renewing Schiphol and ensuring it continues to create value for the Dutch economy.”
Royal Schiphol Group’s Dutch airports served 37.3 million passengers during the period, up +0.3% year-on-year.
Amsterdam Airport Schiphol welcomed 32.7 million passengers, marginally below the 32.8 million recorded in the first half of 2025. Air traffic movements at the airport declined -4% to 223,597.
Royal Schiphol Group CEO Pieter van Oord added, “Demand for aviation remains high, even during a period of geopolitical uncertainty.
“This underlines the importance of strong international connectivity for travellers, businesses and the Netherlands.
“To continue meeting that demand in the future, thousands of people are working together to make Schiphol the home for world travellers that the Netherlands deserves.
“We are renewing our infrastructure and improving the passenger experience and working conditions. At the same time, we are working hard to make the airport quieter and cleaner.
“I am proud that the trend towards quieter aviation is continuing. Measurements show that Schiphol has demonstrably become quieter.
“A new Airport Traffic Decree is the next step towards future-proof Dutch aviation, with a quality airport that connects the Netherlands while in balance with its surroundings.” ✈
