Zurich airport significantly increased its revenue and profit in the first half of 2023.
For the year as a whole, the airport operator anticipates a passenger volume of 28 million people, which corresponds to 90% of the pre-crisis level.
Revenues increased in the first half of the year to CHF577 million ($653 million) thanks to growth in passenger numbers by a quarter, the airport announced on Tuesday. Compared to the pre-crisis level of the first half of 2019, this was almost 2% short of earnings.
Operating costs rose at a lower rate than in the previous year, by 15% to CHF253 million. Accordingly, the operating profit at the EBITDA level increased by 36% to CHF324 million. The net profit of CHF138 million was more than twice as high as the CHF55 million in the same period last year.
The figures were better than analysts had expected, particularly 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. Some 13.1 million passengers travelled 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 company's profit should be “significantly higher” than in the previous year.