Schiphol cancels 2020 profit forecast

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Schiphol Airport company throws the expectations it expressed earlier for 2020 in the trash because of the corona crisis. The company is not venturing into new predictions, the situation is now too uncertain.

At the presentation of the annual figures for 2019 in mid-February, Schiphol still assumed limited passenger growth in 2020. Net profit, which amounted to 355 million euros last year, was expected to remain stable.

Air traffic at Schiphol has almost come to a standstill. It is not yet clear how long this will take. Also, because there is “no precedent” for the current situation, the airport company cannot estimate the effects that the crisis will have on business operations, results and financial position.

The uncertainty can also have consequences for the dividend that Schiphol distributes to its shareholders, the largest of which is the Dutch state. Minister Wopke Hoekstra (Finance) informed the House of Representatives last week that the profit distribution for 2019 of a total of 151 million euros was postponed in consultation.

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Nicholas de Kramer

Nicholas de Krammer, а self-taught economic analytic with heave mathematical background. Math behind the economics (and economics behind math) is the strong side of the author. Contact him at [email protected]

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