€440 million in internal financing already generated for BBI

14.04.11 15:24
Over 22 million passengers / Revenues increase / Regional companies profit from building contracts / Trial runs start in November
Berlin Airports has taken another key step towards funding the new Berlin-Brandenburg International Airport (BBI) by generating €440 million in internal financing by the end of 2010. “BBI is on the right path: we are making great progress with the building work and thanks to a company management in line with market requirements, we have now reached our target of €440 million in internal financing, too”, said Prof. Dr. Rainer Schwarz, CEO of Berlin Airports, at this year’s company press briefing on the annual results in Berlin.

Above-average growth in traffic continues

The figures for 2010 clearly show that despite the financial crisis and ash cloud, Berlin Airports has achieved record passenger figures. For the first time, Tegel and Schoenefeld recorded over 22 million passengers, 6.4 per cent more than in the previous year – German commercial airports recorded a 4.7 per cent increase in the same period. This result has enabled Berlin Airports to claim third place in the ranking of German commercial airports and stabilise its market share at just under 12 per cent. “We are better than the average international commercial airport in Germany for the eighth year in a row”, said Schwarz. “Berlin is back on the world map in terms of air traffic.” The traffic result and 12 long-haul routes have helped Berlin Airports achieve in 2010 the targets it had originally set for the year in which BBI opens.

Stable revenue growth and special item

In 2010, the German economy showed strong momentum, the aviation industry profited from the economic recovery and Berlin Airports generated an annual net profit of €4.1 million (previous year: €0.9 million). Compared to last year, strong revenue growth was recorded in the business segments.

Thanks to a special item amounting to €259 million, resulting from the structural works for the underground railway system carried out by Berlin Airports on behalf of Deutsche Bahn, total revenues rose to as much as €506 million. EBITDA (earnings before interest, taxes, depreciation and amortisation) was valued at approx. €109 million.

Revenue 2010: Aviation 168.2 | Non Aviation 43.8 | Real Estate 27.4 | Construction works 259.5 | Other 7.5 | Total 506.4

Revenue 2009: Aviation 164.4 | Non Aviation 41.6 | Real Estate 23.8 | Construction works 3.5 | Other 10.6 | Total 243.9

Over €2 billion worth of contracts

Many of the BBI building contracts awarded in 2010 once again went to regional companies. More than 370 companies from Berlin and Brandenburg have so far secured €1.24 billion (62%) of the €2.006 billion worth of contracts. Dr. Manfred Körtgen, COO of Berlin Airports: “The SME concept of Berlin Airports is proving effective. The new airport is already fulfiling its role as a job machine and economic driver.”

Final spurt on the BBI construction site

In 2011, key sections of the BBI construction site will be completed. Körtgen: “We are currently working flat out on Europe’s biggest airport cosntruction site. Every day, more than 1,500 builders are working on the terminal alone. A total of around 3,200 skilled workers and builders are employed on a construction site the size of 2,000 football picthes.” Key milestones this year are the completion of Fire Station West and East, the winter service hall, operational buildings, access control points, airport filling stations, the building for security and ground traffic services as well as the multi-storey car parks in Airport City and the car hire centre. Work will also commence on constructing the pavilions for the additional security checkpoints.

The majority of the building work will be completed by the end of November in time for the trial runs. Starting in February, around 10,000 extras will be required to put all processes at the new airport to the test. The search for extras will start in June this year.

Hannes Stefan Hönemann

Hannes Stefan Hönemann Head of Corporate

+49 30 6091-70100

Daniel Tolksdorf

Daniel Tolksdorf Spokesperson

+49 30 6091-70100

Kathrin Westhölter

Kathrin Westhölter Spokesperson

+49 30 6091-70100