Schiphol Group 2002 semi-annual results

During the first six months of 2002 Schiphol Group posted - pretax - results reflecting the same level as last year. Operating profit was up by 5.3%, rising from € 102.8 million to € 108.2 million. Net profit however dropped from € 88.5 million to € 57.4 million as a result of the corporate income tax liability first incurred in 2002. A sum of € 31.8 million was reserved for this purpose.

Expenses during the first half-year rose 7% mainly as a result of additional security measures taken. Disregarding these measures, the level of expenses was similar to that in the same period last year. The higher security expenditure was partially compensated by the introduction of an airport security charge on 1 April 2002.

Income exceeded expectations as a result of a more rapid recovery of the passenger market at Amsterdam Schiphol following the September 11 events.

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(source: Schiphol Groep)

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