Zurich Airport with higher revenue and significantly higher profit
Published: Friday, Mar 8th 2024, 07:20
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Zurich Airport continued its strong recovery from the coronavirus crisis in 2023. The airport operator achieved significantly higher turnover and a strong increase in profit. Shareholders can look forward to a higher dividend.
Revenue increased by 21% to 1.24 billion Swiss francs as a result of the sharp rise in passenger numbers, Zurich Airport announced on Friday. This also exceeded the pre-crisis level of 2019 (+2.1%), although the airport operator still has fewer passengers than before the pandemic.
Meanwhile, operating costs rose at a slightly lower rate of just under 20 percent to CHF 560 million. Accordingly, operating profit (EBITDA) was 22 percent higher at CHF 677 million. Net profit even increased by 47 percent to 304.2 francs. Shareholders can look forward to a dividend of CHF 5.30 per share, an increase of CHF 1.80.
Analysts' expectations were thus exceeded both in terms of turnover and profit. Net profit and the dividend in particular were higher.
The airport operator remains confident for the current year. The number of passengers is expected to rise to around 30 million, or 95% of the 2019 level. Last year, the figure was 28.9 million.
As a result, turnover is also expected to increase further. At the same time, the airport operator expects a higher profit for 2024.
©Keystone/SDA
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