Swedavia's year-end report for 2024: More international travelers, airline investments and expanded commercial offerings contributed to a positive operating profit, increased net sales and strengthened cash flow.
Increased international travel, the airlines' investments in a larger route and destination offering and increased commercial revenue contributed to Swedavia reporting a positive operating profit for a full year for the first time since the pandemic. Net sales increased to SEK 6.4 billion (5.9). Cash flow was positive and increased by SEK 305 million compared to the previous year. In parallel with a strong international trend, developments in the domestic aviation market remain worrying.
– For the first time since the pandemic, Swedavia is reporting a positive operating profit for the full year. At the same time, we have enabled continued passenger growth and net sales increased by SEK 462 million compared to the previous year and amounted to SEK 6,393 million. Cash flow from operating activities amounted to SEK 1,071 million, an increase of SEK 305 million, says Jonas Abrahamsson, Swedavia's President and CEO.
In 2024, just over 32 million passengers travelled through Swedavia's ten airports. International travel increased by five percent while domestic travel decreased by nine percent. This is 1.2 percent higher than in 2023 and 81 percent of the levels before the pandemic, in 2019. In parallel with the strong development of international travel, domestic travel continued to decline.
Swedavia's net sales for the full year amounted to SEK 6,393 million (5,931), which is an increase of SEK 462 million compared to the previous year. Operating profit amounted to SEK 26 million (-318), which is an improvement in profit of SEK 344 million. Cash flow from operating activities was positive and amounted to SEK 1,071 million (766), an improvement of SEK 305 million compared to last year. Operating profit for the fourth quarter amounted to SEK -153 million (-266), which is an improvement in profit of SEK 113 million.
A total of 40 new routes, 18 of which are brand new destinations, have been added to Swedavia's ten airports in 2024. Among other things, Air Canada has established itself at Arlanda with routes to Toronto and Montreal. Several initiatives were also announced in 2024 for the coming years, including the Arlanda-Tokyo Haneda route with Japan's largest airline ANA, which was inaugurated on January 31, 2025.
Passenger satisfaction has increased continuously during the year and is now higher than in many years, including at Sweden's largest airport, Stockholm Arlanda Airport. This is a result of long-term investments in both customer experience, commercial offerings and infrastructure. The new Marknadsplatsen at Arlanda has continued to develop during the year and will be fully completed in the first quarter of 2025.
As a result of the weak domestic market, the announcement came in September that the airline BRA would be flying on behalf of SAS from Arlanda from the beginning of the year. The fact that Stockholm's domestic flights will be concentrated at Arlanda will create the conditions for stronger domestic flights in the long term. In the short term, however, the announcement brings with it significant challenges for Swedavia and has meant that operations at Bromma Stockholm Airport have had to be adapted based on the new traffic structure, which has meant the layoffs of nearly 50 employees at Bromma.
– To meet tomorrow's capacity needs, our airports need to continue to develop. With strong demand for international travel, both here and now and in the longer term, we are resuming work on the design of the new terminal building "Pir G" in Terminal 5 at Arlanda, which was paused during the pandemic. Preparatory work is currently being carried out and a final investment decision cannot be made until 2027 at the earliest, says Jonas Abrahamsson.
The investment includes the addition of 14 new bridge-connected, flexible gates, the expansion of border control infrastructure and an expansion of the baggage system.
Last fall, Swedavia announced that its subsidiary, Swedavia Real Estate AB, is developing the largest airport hotel in the Nordic region, directly adjacent to SkyCity at Arlanda, together with Strawberry. Construction is scheduled to start in 2027.
During the year, Stockholm Arlanda Airport and Ronneby Airport have achieved the highest international certification, level 5, within the framework for airports' climate transition work, Airport Carbon Accreditation. Of the 19 level 5 airports in the world, Swedavia has four. Gothenburg Landvetter Airport and Malmö Airport were certified at level 5 in 2023. The remaining Swedavia airports are working to achieve the highest certification in 2026.
