In 2016, Avinor had a revenue of close to NOK 11 billion and a profit after tax of about NOK 1 billion. The integral parts of last year were the completion of major expansion projects and increased efficiency in operations.
“A safe and efficient operation is the first priority for Avinor. In 2016, we performed very well in these areas. We have achieved a satisfactory profit margin while experiencing reductions in traffic growth. We are also significantly increasing enterprise efficiency and capacity. The profit will be used to finance further expansion at Norwegian airports in the years to come”, says CEO Dag Falk-Petersen.
During 2016, average regularity has been recorded at 99 per cent, and average punctuality has been recorded at 87 per cent at Avinor’s airports.
Marginal increase in revenue
Operating income accounted for NOK 10 788 million in 2016, compared to NOK 11 989 million in 2015. Included in the operating income in 2015 were profits made on the sale of property amounting to NOK 1266 million. Adjusted for this profit, operating income rose year-on-year by 0.6 per cent. The group achieved a profit after tax of NOK 1036 million, in 2016.
Efficiency increase on track
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. Despite large expansions in capacity and increased production, the number of full-time equivalents reduced by 2.5 per cent in 2016.
Air traffic measured as the number of passengers travelling through Avinor’s airports in 2016 rose by 1.6 per cent compared with 2015. Traffic through Oslo Airport in terms of number of passengers increased by 4.5 per cent, but Sola airport saw a reduction of 6.8 per cent. Overall, traffic at other airports was at the same level as in 2015. Air traffic in Stavanger is still affected by the downturn in the oil and gas industry.
Major expansions are on track
The new terminals at Oslo Airport opened on a technical trial basis 1 December 2016. A steady increase in the number of passengers and flights is now being carried out in the new areas. Everything is now in place for a complete and fully tested facility ready for official opening on 27 April 2017. The project will be completed on time and on budget.
The new terminal at Flesland Airport is scheduled to open 17 August 2017, and this expansion is also on track to be completed on time and within budget.
Source: Avinor / Norway Today