Increased air travel, a strengthened route and destination offering, and increased commercial revenue contributed to improved results and more satisfied travellers.
Net sales increased by just over SEK 1 billion to nearly SEK 6 billion compared to 2022. The operating result developed positively, but costs increased due to both higher passenger volumes and inflation. The operating result amounted to SEK -318 million for the full year compared to SEK -783 million in 2022.
– More travellers led to net sales increasing by SEK 1.1 billion compared to the previous year. Commercial revenue per passenger also continued to increase as a result of our updated commercial strategy, including the new marketplace at Arlanda. As passenger numbers grew, so did costs, which were also impacted upwards by the rate of inflation. The company's operating profit continues to develop positively and cash flow from operations was positive during the last three quarters of the year. As travel increases, we continue our work to regain sustainable profitability, says Jonas Abrahamsson, Swedavia's CEO and Group Chief Executive.
Throughout the whole year of 2023, just over 32 million travellers passed through Swedavia's ten airports, which is an increase of 17 percent compared to 2022 and corresponds to approximately 80 percent of pre-pandemic levels. International travel increased by 19 percent to nearly 24 million travellers, while domestic travel increased by 10 percent.
During the year, nearly 40 new flight routes and nine new destinations were added at Swedavia's airports. The airlines responsible for the most new routes were SAS, Ryanair and Eurowings. Other major openings during the year included, for example, United Airlines, which returned with a route between New York and Stockholm Arlanda Airport, Wizz Air, which chose to establish itself at Arlanda in the autumn, and Royal Jordanian Airlines' establishment at Arlanda.
Swedavia's net sales for the full year amounted to SEK 5,931 million (4,846), an increase of SEK 1.1 billion compared to the previous year. Operating profit amounted to SEK -318 million (-783), which is an improvement in profit of SEK 465 million. Last year's operating profit was affected by a provision relating to the repayment of transitional support made in 2022. Cash flow from operations was positive and amounted to SEK 766 million (541), an improvement of SEK 225 million compared to the previous year. Operating profit for the fourth quarter amounted to SEK -266 million (-600).
Throughout 2023, Swedavia’s new commercial strategy continued to be implemented, with an increased focus on a broad, diverse, and affordable commercial offering. During the year, the first phase of the new Marketplace at Arlanda was inaugurated, and the offerings at Gothenburg Landvetter Airport, Malmö Airport, and Luleå Airport were strengthened. The new, state-of-the-art security checkpoint at Arlanda was also brought into operation, which has contributed to significantly shorter waiting times and more satisfied travellers. During December, the average time to pass through the security checkpoint was approximately two minutes.
– As travel increases, we see how our investments in an expanded commercial offering and strong operational delivery contribute to improved results and more satisfied travellers. We continue to drive the development of our airports, but to ensure competitiveness, efforts are also required at the national level. It is high time to review a national steering instrument such as the aviation tax, which is directly detrimental to competition and hinders aviation's necessary climate transition. The aviation tax, among other things, limits the opportunities to attract the intercontinental direct routes that are necessary for Sweden's accessibility, says Jonas Abrahamsson.
Source: According to Press Release.
