Schiphol Group posts 7.2% increase in 2006 net profit

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Dutch airport operator Schiphol Group has reported a 7.2% increase in its full-year 2006 net profit to €198 million ($260 million).

Schiphol Group, which operates airports in Eindhoven and Rotterdam as well as Amsterdam Schiphol, also reports a 2006 operating profit of €316 million, a 1.7% improvement over the previous year.

The operating result at Rotterdam Airport fell 36.2% owing partly to increased security costs, while Eindhoven Airport’s operating result improved by 86%, largely because of a 21% rise in passenger numbers for the year.

The group received €10 million from its 15.6% stake in Australia’s Brisbane Airport, and a further €1.2 million from its shareholding in New York JFK. The company says it will maintain a “clear focus” on China, following its failure to acquire an interest in Nanjing Airport.

Schiphol Group’s aviation unit, which plans, controls and manages capacity at Amsterdam Schiphol, saw its revenue increase by 10.2% last year to €631 million. The airport operator’s overall revenue grew 9.4% to reach just over €1 billion, while operating expenses rose 15.2% to €759 million.

“We can look back on 2006 as a year in which we exceeded our published financial forecasts,” says Schiphol Group CEO Gerlach Cerfontaine. “Amsterdam Airport Schiphol maintained its position as one of the four most important airports in Europe.”

Schiphol Group expects its 2007 net profit to be “slightly higher” than last year’s.