Schiphol Group interims benefit from property gains

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Amsterdam Airport operator Schiphol Group is maintaining its full-year net profit forecast after a trebling of property gains enabled it to post an 8.4% improvement to its half-year result.

Schiphol Group recorded a first-half net result of €88 million ($113 million) although, discounting property gains of €16.1 million, the figure remained almost unchanged at €76.6 million.

Revenues rose by just under 10% to reach €486 million. Income from airport charges rose by 11.1% to reach €295 million, due to increased passenger numbers and movements coupled with higher charges.

Concessions income rose by 9.8% to reach €64 million of the back of the passenger hike and higher spending levels. The group’s operating result, including the capital gains, rose by 10.4% to reach €139.4 million.

Schiphol Group president and CEO Gerlach Cerfontaine says: “We are pleased with the financial results achieved in the first half of 2006. We are maintaining our forecast net result for the full year. Our forecast takes into account the measures taken as a result of the attacks recently foiled in the UK.”

He adds that the group expects its full year net result to be “on a par” with 2005, again excluding the property gains.

Amsterdam handled 21.5 million passengers during the first half of the year, marking 4.3% growth. The airport is forecast to post 4.2% full-year passenger growth. The total number of passengers using Amsterdam Schiphol, Rotterdam and Eindhoven airports rose by 4.4% to reach just under 22.6 million.