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Royal Schiphol Group N.V.

Royal Schiphol Group N.V.

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Publicatie datum 26 aug 2009 - 20:32
Statutaire naam Royal Schiphol Group N.V.
Titel Schiphol Group: Net result for first half of 2009 declined by 76.6 % to EUR 22.4 million
Bericht Amsterdam Airport Schiphol, 27 August 2009 • The net result reported by Schiphol Group for the first half of 2009 decreased by 76.6% compared with the corresponding period in 2008, from EUR 95.8 million to EUR 22.4 million. • Main causes: o the drop in traffic and transport volumes. The first half of 2009 saw 11.0% fewer passengers, 26.5% less cargo and 9.2% fewer air transport movements; o the inclusion of a provision of EUR 33.5 million for the organisational restructuring that was decided upon in early 2009, which measure should result in a 25% reduction in staff numbers at the Schiphol location by the end of 2010; o a decrease in the fair value of the property portfolio amounting to EUR 26,1 million (3.6% of its value). In the first half of 2008 there was a fair value gain of EUR 9.9 million; o an impairment of contract-related assets in the amount of EUR 6.3 million in connection with lower sales forecasts for alcohol and tobacco; o a EUR 31.0 million increase in net financial expenses due to a rise in interest-bearing debts in the second half of 2008, partly attributable to the distribution of a super dividend and the 8% cross participation in Aéroports de Paris (ADP). • Excluding the restructuring provision and the fair value loss on property, the net result reported by Schiphol Group decreased by 24.6%, from EUR 88.4 million to EUR 66.7 million. • Schiphol Group’s revenue for the first half of 2009 of EUR 553.5 million was in line with the revenue for the same period last year of EUR 549.5 million. • The operating result declined by 54.2%, from EUR 137.2 million to EUR 62.9 million. • EBITDA declined by 30.8%, from EUR 221.9 million to EUR 153.6 million. • Earnings per share decreased by 78.5%, from EUR 559 to EUR 120.