TheMoodieReport.com

TheMoodieReport.com: "Solid increases in concession income and average spend boost Schiphol Group in H1 2006 � 24/08/06
Source: �The Moodie Report
By Dermot Davitt
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NETHERLANDS. Schiphol Group net profits for the first half of 2006 rose by +8.4% to �88.0 million, compared with the corresponding period in 2005. Revenues rose +9.8% to �486 million in the period.

Concession income increased by +9.8% to �64 million, which was attributed to increased passenger numbers and higher average spend per international departing passenger in the airside See Buy Fly shops. This figure rose from �3.58 to �3.81 in the period.

Concession income from the See Buy Fly shops alone was up by +11.8% to �40.8 million. Schiphol Group said: �This increase followed the introduction of more competitive product pricing, the new See Buy Fly �Buy Bye� campaign and growing consumer confidence.�

The Consumer Business division, which manages shops and restaurants, accounted for 22.5% of revenues in H1 2006 and for 46.0% of operating profits.

The division takes over the liquor and tobacco concession from KLM Tax Free Services on January 1 2007. Under the agreement, the airport authority will take over six shops and 150 staff. A due diligence investigation has yet to be undertaken but will take place in the second half of the year.

The number of passengers using Amsterdam Airport Schiphol, Rotterdam Airport and Eindhoven Airport rose by +4.4% to almost 22.6 million, of whom more than 21.5 million travelled through Amsterdam Airport Schiphol.

Gerlach Cerfontaine, President & CEO of Schiphol Group, commented: �We are pleased with the financial results achieved in the first half of 2006. We are maintainin"