Airport balance sheets

First German airports show profits again

Flughafen Köln/Bonn
Back in the black: Cologne/Bonn Airport.
Back in the black: Cologne/Bonn Airport.

Many companies are presenting their annual balance sheets these days. This also applies to the German airports Cologne/Bonn, Nuremberg and Stuttgart, which have provided insights into their 2022 balance sheets. The good news: From these reports, the recovery of air traffic from the Corona crisis can be seen.

While Nuremberg and Stuttgart are still struggling with losses, Cologne/Bonn Airport has even returned to profitability. The main driver there is the cargo business, which also played a major role during the Corona crisis and is an important mainstay at the North Rhine-Westphalian airport.

Here are the figures for the three airports in detail:

Cologne/Bonn Airport:
After still having to cope with a loss of €14.5 million in 2021, Flughafen Köln/Bonn GmbH was able to post a surplus again last year, which amounted to €17.2 million. The company announced that this was the best result of the 2000s. Sales rose by a good €70 million to €317.4 million in the year under review.

According to the airport, the main reasons for the positive development were the successful cargo business and the rapid recovery of passenger traffic. The airport counted a total of 8.8 million passengers in 2022, up from 4.3 million in 2021, with the biggest driver in passenger business being vacationers and so-called "Family & Friends" traffic to destinations such as Spain and, above all, Turkey.

Nuremberg Airport
In 2022, the airport in Franconia generated sales revenue of €81.5 million, an increase of a whopping 91.2% over the previous year. Among other things, the non-aviation business benefited from this. The airport's own stores and parking business reportedly achieved the highest sales in their history. Nevertheless, the airport ended 2022 with a negative after-tax result of €12.6 million – improving by €2.2 million.

Stuttgart Airport:
Flughafen Stuttgart GmbH generated sales of €203.8 million with nearly seven million guests in 2022. In terms of earnings, the airport in Baden-Württemberg posted a minus of €16.1 million after minus €24.7 million in the previous year, which represents a significant improvement. The airport was able to increase passenger numbers by 95.3%, returning to 55% of the pre-crisis level.

In the weeks before, the airports in Düsseldorf, Munich, and Berlin had already announced their annual figures. The stock exchange listed Fraport Group in Frankfurt, which operates the largest airport in Germany, has already presented its figures for the first quarter: Revenue rose by around 42% year-on-year to just under €766 million.

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