Real Estate of positive influence on results Schiphol Group

Schiphol Real Estate has had an important positive influence on the the result of the Schiphol Group over the year 2002. The real-estate division increased their earnings from 73 to 114 million euro. The total group earnings went up from 706 to 790 euro.

The operational results of Real Estate rose from 59 million euro to 76 million euro. The operatioonal results of the group from 224 to 253 million. These figures come from the annual results that were published last week.

Real Estate assets were valued at an average of 915 million euro in 2002, against an average of 791 euro in 2001. Including depreciations wotrth 17 million euro and after taxes the net return on real estate was 6,7 percent. Without the revaluation the return was 5,4 percent. In 2001 the numbers were respectively 13,0 percent and 4,9 percent.

The occupationrate of Schiphol Real Estate fell back from 98,8 to 96,7 percent. This is slightly below the norm of 97,2 percent. In 2003 15,5 percent of all contracts will end.

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