Swedavia increased travel and enhanced range of routes for 2023

Swedavia net revenue increased by just over SEK 1 billion (88,972,880.00 Euro) compared with 2022 to almost SEK 6 billion (533,837,280.00 Euro).

There was positive development in operating income, but costs increased due to both higher passenger volumes and inflation.

Operating income totalled SEK -318 million for the full year, compared with SEK -783 million in 2022.

Jonas Abrahamsson, President and CEO of Swedavia says: “More passengers led to an increase in net revenue of SEK 1.1 billion compared with the previous year.

“Commercial revenue per passenger also continued to increase as a result of our updated commercial strategy, including the new marketplace at Arlanda.

“As the number of passengers increased, so did costs, which were also pushed up by inflation.

“The company’s operating income continues to develop positively and cash flow from operating activities was positive during the final three quarters of the year.

“As travel increases, we will continue our efforts to return to sustainable profitability.”

During the full year 2023, more than 32 million passengers travelled through Swedavia’s ten airports, which represents an increase of 17 percent compared with 2022 and is around 80 percent of the pre-pandemic level.

International travel increased 19 per cent to almost 24 million passengers, while domestic travel increased by 10 per cent.

Swedavia’s net revenue for the full year amounted to SEK 5,931 million (4,846), which is an increase of SEK 1.1 billion compared with the previous year.

Operating income totalled SEK -318 million (-783), which is an improvement of SEK 465 million.

Last year’s operating income was affected by a provision made in 2022 for the repayment of restructuring aid.

Cash flow from operating activities was positive at SEK 766 million (541), an improvement of SEK 225 million compared with last year.

Operating income for the fourth quarter amounted to SEK -266 million (-600).

Jonas Abrahamsson, says: “As travel increases, we can see how our investments in an enhanced commercial offering and strong operational delivery are helping to achieve improved earnings and more satisfied passengers.

“We will continue to drive the development of our airports, but ensuring our competitiveness also requires action at national level.

“It is high time there was a review of the national policy instrument that is aviation tax, which directly reduces competitiveness and inhibits the vital climate transition of aviation.

“Among other things, the aviation tax limits opportunities to attract the direct intercontinental routes that are needed to ensure Sweden’s connectivity.”

Photo: Svante Örnberg/Swedavia