Zürich Airport commercial income shows solid increase amid healthy first-half group performance

SWITZERLAND. Zürich Airport’s non-aviation revenue increased by +17.7% year-on-year in the first half of 2018 to CHF231.2 million (US$235.8 million), the company reported in its interim results today. The figure was buoyed by a strong contribution from the group’s growing international business. Within this, commercial revenues climbed by +5.6% to CHF117.5 million (US$119.8 million) and duty and tax free income rose by +8.5% to CHF52.2 million (US$53.2 million).

Encouragingly, average revenue per departing passenger from retail and F&B climbed from CHF8.20 last year to CHF8.40 (US$8.57) in H1 2018.

Gross commercial sales (to consumers) rose by +4.5% in the half to CHF284.8 million (US$290.5 million), led by a strong performance from airside shops and restaurants (+7.9%).

How the Non-Aviation segment broke down (click to enlarge)

Passenger traffic in the half rose by +6.4% year-on-year to 14.6 million. Total revenue climbed by +10.5% to CHF540.2 million (US$551 million). Thanks in particular to the takeover of Florianópolis Airport located in southern Brazil, revenue from international business increased to CHF31.9 million.

Zürich Airport reported profits of CHF84.5 million, but adjusted for the impact of one-off effects (the cost of sound insulation measures and the sale of its stake in Bangalore International Airport Limited) this figure was CHF130.3 million (US$133 million), an increase of +16.6%.

The airport company said it expects passenger growth of around +6% in 2018, alongside a rise in EBITDA and profits (excluding one-off effects).

The evolution of gross sales from retail and F&B (click to enlarge)
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