Norwegian airports operator Avinor announces net profit of NOK 770 million

OSLO: Avinor AS, a state-owned limited company that operates most of the civil airports in Norway, has announced a net profit of NOK 770 million for the quarter ended September 30, 2019, compared with NOK 704 million in the corresponding period in 2018.

Avinor’s operating income during the third quarter was NOK 3.2 billion. “We experienced quality, safe and efficient operation at our airports in Q3. We cut our overheads further and maintained revenues,” says CEO Dag Falk-Petersen.

The Group’s operating income in the third quarter amounted to NOK 3,244 million, compared with NOK 3,249 million for the corresponding period in 2018. Adjusted for Haugesund Airport which was leased out in May 2019, traffic increased by 0.7 percent measured in number of passengers.

Total operating expenses including the cost of sales amounted to NOK 1,568 million, compared with NOK 1,679 million for the corresponding period in 2018.

Profit after tax was NOK 770 million in the third quarter, compared to NOK 704 million in 2018. The Group made a profit after tax of NOK 364 million, between 01.01 – 30.09.2019, compared to NOK 887 million for the corresponding period in 2018. The change in profit was primarily due to increased provisions for estimated cleanup costs related to environmental contaminants at Avinor’s fire training sites.

Remote Towers milestone: The Remote Towers project reached an important milestone on 19 October 2019, when Røst airport was the first to be approved by the Norwegian Civil Aviation Authority for remote tower operations. Avinor has a new remote tower Centre in Bodø  under construction, scheduled for operation in the second half of 2020. Avinor plans remote tower services for up to 15 airports from the new centre by the end of 2022.

Bodø project progresses: After having examined five development options for a new airport at Bodø, the project was given the go-ahead on 22 October 2019. The pilot project should be completed by the end of 2020. Quality assurance of the project is also in progress under the auspices of the Ministry of Transport and Communications, and the Ministry of Finance. The final financing of the project is yet to be decided.

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