Bologna Airport consolidated revenues in 2019 amounted Euro 125.1 million, increasing by 9.7% compared to Euro 114.1 million in 2018, thanks to the positive trend registered by both Aeronautical (airport charges paid by passengers, airlines and airport operators) and Non-Aeronautical revenues.
In detail, revenues from aeronautical services in 2019 amounted to Euro 63.3 million, up 12.3% on the previous year, mainly thanks to traffic growth and new charges from January 2019. Revenues for non-aeronautical services also grew to Euro 44.3 million, increasing by 7.6% thanks to the good performance of all the components of this category.
2019 operating costs amounted to Euro 80.2 million, with an increase of 6.4% compared to 2018, much lower than the revenue growth in the year. Increasing costs are mainly linked to personnel (+8.5%, mainly related to the growth in headcount, necessary to cope with the higher traffic), to services (+4.4%), to the costs for construction services (+4.9%, due to the growth in investments) and to rents, rentals and other costs (+6.0%, due to the growth in traffic on which the concession and security fees are calculated and to other minor fees). The other operating expenses remained overall stable if compared with 2018 (+1.6%).
Excluding revenues and costs for construction services and some non-recurring receivables, the increase in costs is limited (+6.8%) if compared to a double-digit (+10.4%) increase in revenues: the adjusted gross operating margin grew by 16.1% compared to 2018, reaching 44.1 million Euro.
2019 consolidated EBITDA amounted to Euro 44.9 million, with a growth of 16.1% compared to Euro 38.7 million in 2018. Consolidated EBIT amounted to Euro 31.1 million, growing by 23.2% compared to Euro 25.2 million in 2018.
Consolidated net result in 2019 amounted to Euro 20.9 million (entirely Group's share) registering an increase of 16.3% compared to Euro 17.9 million in 2018.
Bologna Airport registered in 2019 a total of 9,405,920 passengers, including transits and General Aviation, setting a new traffic record, with an increase of 10.6% compared to 8,506,658 passengers in 2018, thanks the introduction of new destinations and the upgrading of already active routes.
The growth in passenger traffic was driven by both the legacy traffic component and the low-cost component. In particular, legacy traffic grew by 4.9%, thanks to the introduction of new flights (including Helsinki, Philadelphia, Nis and Tirana) and the increase in frequencies of some of the main international companies (including Istanbul, operated by Turkish Airlines, Tblisi, operated by Georgian Airlines, Atene, operated by Aegean Airlines, Madrid, operated by Air Nostrum and Marrakech, operated by TUIfly).
The low-cost segment also showed an important growth trend, with an increase of 14.7%, mainly thanks to the strengthening of Ryanair and Wizzair operations at the airport. The Irish carrier launched new connections for Corfù, Podgorica, Marseille and Crotone during Summer 2019, as well as for Santander, Tel Aviv, Katowice and Kutaisi during Winter 2019/2020. Furthermore, increased frequencies operated by Ryanair, Wizz Air, Eurowings, Pegasus and Vueling also played a material role in the traffic growth.
In 2019 there was also a traffic increase in in the charter segment (+12.8%), thanks to the slight recovery of flights to Egypt. It however remains a marginal segment compared to overall airport traffic.
The average load factor confirms the positive trend, passing from 81.3% in 2018 to 81.5% in 2019, thanks to the increase in passengers higher than the rise of offered seats.
Cargo traffic in 2019 was 48,832,550 kg, 7.3% lower than in 2018 and in line with the worldwide sector performances, subject to a difficult international framework and the commercial disputes between USA and China.
Confirming the strength of Bologna Airport traffic, to date there are 120 destinations that can be reached directly, with 57 carriers active at the airport: Ryanair is confirmed as the first airline by number of passengers, followed by Wizz Air, Alitalia, Air France , Lufthansa and British Airways.
|Freight by aircraft service (Tons)||1,946|