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July 20, 2022

Swedavia’s half-yearly revenues soar on traffic rebound

A total of 7.7 passengers travelled through its airports in the second quarter alone, as against 1.6 million a year earlier.

Swedavia has registered a surge in revenues in the first half of 2022, driven by higher passenger volume mainly in the second quarter with further relaxation of Covid-19-related restraints.

The operator of ten Swedish airports recorded 11.8 passengers between January and June, versus 2.5 million in the second quarter of 2021.

A total of 7.7 passengers travelled through its airports in the second quarter alone, as against 1.6 million a year earlier.

Net revenues for the three-month period ending 30 June 2022 stood at SEK1.3bn ($127.3m), 170% higher than SEK483m in the prior year. The figure was SEK2.18bn in the first six months of 2022, a 133% increase from SEK940m in the same period last year.  

The rise in revenues from Aviation Business, Commercial Services and Airport Operations contributed to this growth.

However, first-half operating profit continued to remain impacted due to the pandemic, at SEK258m. The comparable figure in the year-ago period was SEK869m.     

Operating profit for the second quarter was positive at SEK67m, compared with SEK489m in the prior year.

Cash flow from operating activities also bucked the negative trend this quarter, at SEK153m. In the same quarter a year ago, the figure was SEK266m.

Swedavia president and CEO Jonas Abrahamsson said: “The recovery in the aviation market is good news for both passengers and an aviation industry hit hard by two years of the Covid pandemic, restricted travel and limited opportunities to meet.

“The sharp increase in travel within a short period of time has had a positive effect on Swedavia’s earnings but has also entailed major challenges for us and other operators, mainly at Stockholm Arlanda Airport (ARN), where we had the equivalent of 20 years of passenger growth in just a few months.

“Together, we have worked intensely to boost staffing and adjust operational activities for the increase in travel – work that continues with undiminished force.”

In the quarter, Swedavia opened a new connecting walkway between Terminal 4 and Terminal 5 at Stockholm Arlanda Airport.

Last month, Swedavia announced an alliance with Veovo to launch new environmental emission tariffs at Stockholm Arlanda Airport and Gothenburg-Landvetter Airport (GOT) in Sweden.

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