Swissport International reports 11% revenue growth in 2013
Swissport International (Swissport), the world’s leading provider of ground and cargo services to the aviation industry, is reporting total revenue of CHF 2.1 billion for the year 2013. This represents an 11% increase in revenue compared to 2012, which is again reconfirming the company’s leading position in its industry, despite challenging market conditions and foreign exchange headwinds.
The year 2013 can be characterised by passenger numbers continuously growing faster than capacities and recovering cargo markets. Swissport grew ahead of the market and was able to increase its revenue by 11% year-on-year to CHF 2.1 billion. Compared to the previous year, the aircraft turnaround frequencies increased 7.5% and air freight tonnage 18.4%, reflecting the recovery of the air freight market in 2013 compared to 2012.
Main contributors to Swissport´s growth were the full year impact of the Flightcare acquisition that was completed in September 2012, as well as new contract wins, offset by negative foreign exchange impacts and certain contract losses. By gaining new business and successful contract renewals Swissport is continuing to capture market share. Contract wins and renewals to be mentioned are with Air Berlin in Zurich, a multi-year contract with Etihad Cargo, who certified Swissport as Preferred Handling Partner for cargo services, a five-year Pan-European agreement signed with Germanwings, covering 11 countries, and the expansion of the business in Morocco with additional 9 airports. Several new service contracts could also be signed with domestic US and international carriers in North America, such as with United in Newark.
Swissport was also able to further leverage on inorganic growth. Through the take-over of the majority stake in InterAirport Services in Costa Rica, the company´s network in Latin America could be increased. The agreement with Service-VS for Vnukovo Airport paved the way for the market entry into Russia, and the acquisition of a 10% stake in SAS´s three Scandinavian ground handling companies will help to build up the presence in these markets. The closing of the acquisition of Servisair on 23rd December 2013 is not included in the 2013 results.
Per H. Utnegaard, Group President & CEO of Swissport International Ltd.: “The 2013 overall growth for the group was in line with expectation, as we continue to capture market shares. I am confident that with the acquisition of Servisair we will further strengthen the position of the Swissport group.”