Swissport grows ground services and cargo business / strong earnings
In the first half of 2018, Swissport International AG served 132 million passengers on behalf of its airline clients (up 10.0% on the first half of 2017). Cargo volumes increased to 2.3 million tons (up 5.0%). Revenue for the first six months climbed to EUR 1.43 billion (up 4.1%). EBITDA reached EUR 116.3 million (up 35.5%).
Swissport continued its trajectory of profitable growth in the first half of 2018. The Group increased the number of passengers handled on behalf of its airline clients to 132 million (up 10.0% on 2017). The positive development can be attributed to organic growth, with most regions profiting from increased global economic activity, and to the contribution of Aerocare following the company’s acquisition in March 2018. With an increase of 5.0% to 2.3 million tons, Cargo also traded positively in the January to June period.
“Swissport continues to deliver value by focusing on profitable growth,” says Eric Born, Group President and CEO of Swissport International AG. “A mix of organic growth, our acquisition of Aerocare, the disciplined restructuring of underperforming operations and the exit from continuously loss-making activities, contributed to the favorable results”.
Total revenue for the first six months 2018 increased to EUR 1.43 billion (up 4.1% on 2017). In the Cargo Services business, total half-year revenue amounted to EUR 0.26 billion (up 7.3%). Swissport also recorded a positive trend in its Ground Handling business with EUR 1.17 billion of revenue for the first half of 2018 (up 3.4%). Group EBITDA for the first six months increased to EUR 116.3 million (up 35.5%).
Swissport International AG,on behalf of more than 850 client-companies, provides best-in-class airport ground services for some 265 million passengers annually and handles approximately 4.7 million tonnes of air cargo at 133 warehouses world-wide. Several of its cargo warehouses have been certified for Pharmaceutical Logistics by IATA’s CEIV. With a workforce of 68,000, the world’s leading provider of ground and air cargo services, is active at 315 airports in 50 countries across all five continents. In 2017 the group generated consolidated operating revenue of EUR 2.8 billion.