Avinor in the first half-year: On track with the group’s modernisation programme and expansion projects
The group’s operating income during the period 01/01 – 30/06/2016 amounted to approx. NOK 5 billion with a net profit of NOK 346 million.
– We provide good operations and have a satisfying result for the period. In a period of major expansion projects, we are particularly pleased to deliver a safe and effective operation to millions of travelers, says CEO Dag Falk-Petersen of Avinor.
The Group have an average regularity (departures carried through as planned) of 99 per cent and punctuality (departures on schedule) of 88 per cent over the last 12 months. The Norwegian regional airports are among the most punctual in the world, while Oslo Airport is among the most punctual in Europe.
Increased traffic volume
Air traffic measured in the number of passengers travelling through Avinor’s airports in the first six months of 2016 increased by 1.6 per cent compared with the corresponding period last year. Traffic in Western Norway is still affected by the downturn in the oil and gas industry, but this is partly counterbalanced by growth in the rest of the country. Bergen Airport, Flesland and Stavanger Airport, Sola had a combined reduction in traffic of 3.8 per cent, while at Oslo Airport, Gardermoen there was a 4.3 per cent increase. The remaining airports saw a 1.1 per cent increase.
Influenced by one-time effects
The group’s operating income during the period 01/01 – 30/06/2016 amounted to NOK 5.043 million compared with NOK 5.156 million during the corresponding period last year. The net profit after tax is reduced from NOK 566 million to NOK 346 million for the same period. The results are influenced by higher depreciation, a change in the accruals principle for holiday pay as well as costs of maintaining operations and safe traffic management during the capacity expansion at Oslo Airport, Gardermoen.
The group’s modernisation programme is on schedule and preliminary projected savings are above target. The programme’s targeted cost-savings of NOK 600 million per year from 2018 remain the same.
Expansion projects at Oslo Airport, Gardermoen and Bergen Airport, Flesland are on schedule in terms of progress and budget. The project at Oslo Airport was approximately 95 per cent complete and Bergen Airport was about 88 per cent complete by 30/06/2016. Both projects is on track and on budget in 2017.
Source: Avinor / Norwa Today