Increased capital spending to meet future travel needs
Swedavia’s operating profit for the second quarter of 2012 was SEK 233 million (€27.5 million), down slightly year-on-year from SEK 255 million. This was despite the fact that revenue for the period was SEK 1,248 million, a rise from SEK 1,203 million in the same period last year. However, Swedavia points out that the period was characterised by more passengers (8.6 million, up 3.2%) as well as “increased capital spending to meet the needs of future travel” – reaching SEK 2,164 million, up from just SEK 193 million spent in the same period last year.
The period was dominated by increased capital spending, mainly at Stockholm Arlanda Airport and Gothenburg Landvetter Airport, “aimed at increasing both capacity and quality at the airports”, Swedavia said.
“Uncertainty about the economic recovery in Europe is creating continued challenges going forward. At the same time, an extensive investment program is being carried out to ensure development of our main airports and Sweden’s long-term access,” Swedavia’s chief executive, Torborg Chetkovich, explained.
Swedavia has now completed the acquisition of buildings at Stockholm Arlanda, Göteborg Landvetter and Malmö Airport for SEK 1,775 million, as part of the strategic development of its airports.
[photo: Swedavia/Robert Elmengård]