PR: Swissport achieves solid 2019 results

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PRESS RELEASE

Swissport achieved an operating EBITDA of 272.3 million euros in 2019, roughly on par with the previous year result of 273.2 million euros. The group’s revenue from operating activities increased to 3.13 billion euros, up 4.7 percent from 2.99 billion euros in 2018.

With revenue of 3.13 billion euros for 2019 Swissport’s turnover was 4.7 percent up year-on-year despite a volume decline (2.3 percent up at constant currency). The airport ground services business contributed 2.54 billion euros, up 4.5 percent. In air cargo handling, revenue was 0.59 billion euros, up 5.0 percent. Swissport’s operating EBITDA for 2019 amounted to 272.3 million euros (pre-IFRS 16), which is roughly on prior-year level (273.2 million euros). On a constant currency basis, the group’s operating EBITDA was 2.4 percent below 2018. Operating cash flow climbed to 196.4 million euros, up 7.6 percent compared to the previous year. Swissport’s free cash flow improved to 46.7 million euros, after a negative free cash flow of 41.4 million in 2018.

The startups in the Middle East are steadily adding clients to their customer portfolio and were – prior to the coronavirus crisis – on track to operational break-even three years after the market entry. In Brussels, Belgium, the company opened a state-of-the-art Swissport Pharma Center. Melbourne is scheduled to become the first Swissport cargo operation in Australia, delivering on the ambition to build on the former Aerocare organization and its strong market position as a platform for growth in the dynamic Asia-Pacific region. Swissport has also further expanded its airport lounge portfolio under the Aspire brand with 48 lounges in operation at year-end.

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