Year-end accounts 2007: The most successful financial year so far for Berlin Airports19.05.2008
Increased profitability – 2007 financial year
Group profit in 2007 amounted to 16.7 million euros, up 12.2 million euros on the previous year's figure of 4.5 million euros. At 61.3 million euros, EBITDA – earnings before interest, taxes, depreciation and amortisation – improved on 2006 by 10.5 per cent.
"Berlin Airports has once again displayed strong growth in 2007", stressed Dr. Rainer Schwarz, CEO of Berlin Airports. "What is so remarkable about these results is that our business growth was higher than passenger growth. Passenger numbers increased by 8.3 per cent, while EBITDA rose by 10.5 per cent. This shows that 2007 was yet another very successful year in which our company became more profitable and efficient."
Dr. Schwarz continued: "By systematically increasing sales revenues, applying rigorous cost discipline and continually enhancing our efficiency we succeeded in generating 165 million euros between 2005 and 2007 as FBS's contribution towards the cost of BBI. This is approximately 38 per cent of the total 440 million euros which we will be investing in the project. We are 11 per cent above plan."
Investment volume in 2007 totalled 153 million euros, with the majority of investments going into building BBI.
Thomas Weyer, BBI/Technical Director of Berlin Airports: "2007 marked the start of major construction work on the Capital Airport BBI; the most important being the beginning of construction work on the BBI railway station, the completion of the western rail link and the new taxiway connections. Our SME concept is in full swing. We have already awarded contracts to the value of 866 million euros, 86 per cent of which to companies in the region."
Dr. Schwarz: "Berlin Airports will continue to grow in 2008, too. What is so remarkable is the positive development of traditional network carriers. Berlin offers all airlines, low-cost carriers and full-service airlines alike, outstanding growth prospects. Developments in intercontinental traffic are also looking promising even before the opening of BBI. Just recently we announced a new connection to the Far East with Beijing."
A key step will be taken in 2008 towards concentrating Berlin air traffic on BBI. Tempelhof Airport will close by 31 October. Until the opening of BBI in time for the winter flight schedule in 2011, all traffic will be handled by the airports Tegel and Schoenefeld. While scheduled flights will move to Tegel, General Aviation will in future be accommodated at Schoenefeld.
Dr. Manfred Bobke-von Camen, HR Director of Berlin Airports: "Preparations for closing Tempelhof Airport are now reaching a peak. This includes approving and implementing the HR concept. The majority of our employees will be transferred to Tegel or Schoenefeld. We will be able to avoid redundancies due to restructuring by offering the option of partial retirement, voluntary redundancies or a newly established placement management."
Construction work on BBI is continuing to run according to schedule and within budget. In recent months, contracts were awarded for providing technical equipment for the aircraft operation area, constructing the baggage conveyor system and construction management for BBI buildings.
Mr Weyer on the subject: "Construction work will begin on the exterior of the passenger terminal as of mid 2008. This year will also see the start of construction work on the new south runway and aprons. Work will continue on the terminal into 2009. We will complete the work on the exterior and begin with structural development and working on the roof and facade. Structural work on the railway station will also be completed in 2009."