State-owned airport operator Swedavia reports increased sales and operating profit in the third quarter of 2024 compared to the same quarter the previous year.
Net sales rose 5.3 percent to SEK 1,698 million (1,613).
Operating profit was SEK 229 million (157), with an operating margin of 13.5 percent (9.7).
Adjusted operating profit was SEK 232 million (213), with an adjusted operating margin of 13.7 percent (13.2).
Profit before tax was SEK 174 million (90).
Profit after tax was SEK 137 million (70), an increase of 95.7 percent compared to the previous year.
Cash flow from operating activities amounted to SEK 425 million (334).
Swedavia's airports had 9.4 million passengers in the third quarter (9.2), an increase of 1.8 percent compared to the same quarter last year.
”"A continued increase in the number of international travelers led to increased net sales and a strong result in the third quarter. Operating profit continues to strengthen and amounted to SEK 229 million, which was SEK 72 million better than the corresponding period in 2023. It is also pleasing that for the second quarter in a row we are reporting a positive result before tax, which for the quarter amounted to SEK 174 million," says Jonas Abrahamsson, Swedavia's President and CEO in the interim report.
The government's announcement that the aviation tax will be abolished by mid-2025 was welcomed by the entire aviation industry. Since the announcement, Swedavia has seen positive effects for accessibility and the competitiveness of Swedish aviation.
During the quarter, there was also positive news regarding the future railway that will connect Gothenburg and Borås with Gothenburg Landvetter. Swedavia's intention is, within the framework of the investment, to establish a public transport hub to link all modes of transport at the airport.
At the end of the third quarter, it was announced that the airline BRA would begin flying on behalf of SAS and primarily operate from Stockholm Arlanda Airport after the turn of the year. Capacity utilization at Bromma has been low for a long time. In order to adapt operations based on the new traffic structure, Swedavia has placed a notice of dismissal covering 90 positions after the end of the quarter.
Source: FinWire-DI.SE
