Swedavia reports a loss and a negative operating profit of SEK 250 million for the third quarter in a row for the third quarter of the year. At the same time, the state airport operator is seeing flashes of light with a positive cash flow for the first time since the beginning of the pandemic and a sharp increase in sales.
During the third quarter, almost 4.4 million passengers traveled to or from Swedavia’s ten airports. This is more than a doubling compared to the same period last year, when the number of passengers was 1.8 million, and the development is related to vaccinations being carried out and restrictions being eased. However, the number of travelers for the quarter is still only 40 percent compared with the levels before the pandemic.
For Swedavia’s finances, the increasing travel had positive effects with sales that increased by 70 percent to SEK 793 million compared with the same quarter last year. However, the operating profit for the third quarter amounted to minus SEK 250 million, which is better than the third quarter in 2020, where Swedavia had a negative operating profit of SEK 341 million. So far this year, Swedavia has a negative operating profit of SEK 1.1 billion.
“Increasing travel, together with continued good cost control, had a positive effect on Swedavia’s earnings during the third quarter. We have now also, for the first time since the beginning of the pandemic, excluding government support, had a positive cash flow from operating activities, ”says Jonas Abrahamsson, who is Swedavia’s President and CEO.
Credit: Simon Ericson & Flyg24Nyheter
Original article (SE): https://flyg24nyheter.com/2021/11/03/swedavias-tredje-kvartal-250-miljoner-kronor-i-forlust/