Zurich Airport significantly increased its revenue and profit in the first half of 2023. For the year as a whole, the airport operator is now assuming a passenger volume of 28 million, which corresponds to 90 percent of the pre-crisis level.
Revenue rose in the first half of the year thanks to the increase in passenger numbers by a quarter to CHF 577 million, according to Zurich Airport. Compared to the pre-crisis level of the first half of 2019, this was almost 2 percent short of earnings.
Operating costs rose at a lower rate than in the previous year, by 15 percent to CHF 253 million. Accordingly, operating profit at Ebidda level increased by 36 percent to CHF 324 million.
Caption: Zurich Airport exceeded analysts’ expectations. Reuters/DENIS BALIBOUSE
The bottom line was a more than twice as high net profit of 138 million francs after 55 million in the same period last year.
Forecasts for the current year improved
The figures were better than the analysts had expected, especially with regard to profitability. The airport operator is now more confident about the current year. An increase in passenger numbers to 28 million is now expected. The company had previously assumed 26 million.
As already known, 13.1 million passengers traveled through Zurich Airport in the first half of the year. An increase in rental income and higher sales from international business are also expected for 2023. Despite higher operating and energy costs, the group profit should be “significantly higher” than in the previous year, it is said.