Zurich Airport increases revenue and profit at half-year
Published: Tuesday, Aug 27th 2024, 07:50
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Zurich Airport significantly increased its revenue and profit in the first half of 2024. The airport operator is raising its forecasts for the year as a whole and now expects passenger numbers to reach 31 million.
Thanks to the increase in passenger numbers, turnover rose by 9 percent to 631 million francs in the first half of the year, as Zurich Airport announced on Tuesday. The flight sector increased by 13 percent to 314 million. Turnover from the non-flight segment, which includes income from real estate and international business in particular, increased by 7 percent to 285 million.
At EBITDA level, operating profit climbed by 7 percent to CHF 347 million. The bottom line was a net profit of 152 million francs, compared to 138 million in the same period of the previous year. The figures were therefore slightly lower than analysts had expected, particularly in terms of profitability.
Passenger forecast increased
The airport operator is now more confident about the current year. Passenger numbers are now expected to rise to 31 million. The company had previously forecast 30 million. As already announced, 14.5 million passengers traveled through Zurich Airport in the first half of the year, which corresponds to 97% of the 2019 level.
An increase in income is also expected for 2024. Despite higher operating costs, Group profit is expected to be higher than in the previous year. In total, the company plans to invest around CHF 650 to 700 million in 2024, of which CHF 350 million will be invested in the international business.
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