Schiphol Group 2012 Interim Report

Mainport grows despite uncertain economic climate

• Revenue increases by EUR 33 million (5.5%) to EUR 637 million (2011: EUR 604 million);
• EBITDA rises by 2.2% to EUR 264 million (2011: EUR 258 million);
• Net result is EUR 93 million (2011: EUR 97 million; down by 4.9%).

Key developments:

• Traffic and transport at Amsterdam Airport Schiphol during the first half of 2012 rises by 3.7% to 23.9 million passengers and by 2.2% to 205,911 air transport movements. In line with expectations, cargo volumes show a decline of 3.2% to 729,000 tonnes.
• Spending in the shops beyond passport control increases by 7.8% to EUR 16.48 per departing passenger. Last year, the renovation of a large retail area (Lounge 3) put pressure on spending. The positive effects of this large-scale refurbishment and the changes in the retail offering, expanding the range of luxury and brand articles, are now noticeable. In addition, the variety of shops in Departure Lounge 4 has been substantially expanded and improved.
• As a result of the occupancy level improving to 89.9% (2011: 85.2%), rental income from property shows an almost stable development. The decrease of the operating result from real estate from EUR 48 million to EUR 21 million, is in part due to an impairment on real estate activities in Italy of EUR 20 million.
• Results from participations in domestic and foreign airports contribute favourably to the overall result. More particularly, the share in results of associates increases from EUR 12 million in the first half of 2011 to EUR 24 million in the first half of 2012 was the main cause.
• In the first six months of 2012 Amsterdam Airport Schiphol once again received major awards. For the third time in a row, international industry  organisation ACI voted Amsterdam Airport Schiphol best European airport. Twelve million passengers in the Skytrax survey ranked Schiphol as Europe’s best airport and the number five worldwide.

Response from Jos Nijhuis, Schiphol Group President & CEO:
“Despite the present economic downturn, the aviation industry remains a source of dynamic activity. Together with other sector parties we have welcomed more passengers. The Mainport grows and we will reach the physical limits of the terminal in the years to come. As Europe’s preferred airport, Schiphol is working hard to maintain the desired capacity and quality levels in our operations, to serve both airlines and passengers. In this connection we will continue to pursue a controlled development of airport charges.”