Fourth quarter strongly affected by the pandemic
![Photo: Avinor](/data/images/00499/113250f0-7e60-4c35-ac5c-3a783e1ccb77-w_720.jpg)
In the fourth quarter of 2020, Avinor had a profit after tax of minus NOK 269 million compared to a profit of NOK 339 million in the same quarter of 2019. The quarterly results include a taxable operating subsidy from the central government of NOK 1.1 billion. Reduced traffic volumes have resulted in a loss in operating revenues of NOK 2billion. The number of passengers and aircraft movements in the fourth quarter decreased by 72 per cent and 38 per cent respectively, compared to the fourth quarter of 2019. The loss of operating revenues was partially compensated by NOK 201 million in reduced operating expenses.
For the year 2020, the Group's profit after tax amounted to NOK 732 million compared to NOK 702 million in 2019. The result in 2020 included NOK 3.6 billion in taxable operating support from the central government.
Somewhat more optimistic than in November
"There is a lot of uncertainty about traffic developments in the future, especially within the international travel segment, but we are somewhat more optimistic than we were in the previous traffic forecast in November," says Petter Johannessen, CFO of Avinor. This is primarily due to the approval of three different vaccines in Norway, which will hopefully see the end of the pandemic.
As Avinor relies on operational support over the state budget for some time to come, very high demands are also being made by the Ministry of Transport for increased efficiency to ensure the Group's financial solvency in the longer term.
“A comprehensive efficiency program has therefore been established to look at, among other things, opportunities for standardization, rationalization, remote control, automation and alternative operating models. In the long term, such measures will lead to a more cost-effective operation," concludes Johannessen.
Compared to 2019, the Group lost NOK 7.2 billion (61 per cent) in operating revenues due to reduced traffic volumes in 2020. The number of passengers, aircraft movements and service units (in the air safety activities) in 2020 decreased by 62 per cent, 37 per cent and 50 per cent respectively compared to 2019. The loss of operating income was partially compensated by approx. NOK 1.3 billion (18 per cent) in reduced operating expenses.
The Group's balance sheet as of 31.12.2020 amounted to NOK 49.7 billion with an equity percentage of NOK 26.5 (34.6 as at 31.12.2019). Prior to changes in debt, the Group had a negative cash flow of NOK 1.0 billion in 2020.
Kontakter
Press service for journalists
We do not answer inquiries between 2100 and 0630 unless there is a critical incident. For info regarding flights - see avinor.no and choose airport.
Bilder
![Photo: Avinor](/data/images/00499/113250f0-7e60-4c35-ac5c-3a783e1ccb77-w_240.jpg)
Lenker
Om The Avinor Group
![The Avinor Group](/data/images/00004/69777f3f-5f89-4dfb-a15d-7a2a1da99b4e-w_300_h_250.png)
Dronning Eufemias gate 6
0191 Oslo
+47 67 03 00 00https://avinor.no/en/corporate/about-us/the-avinor-group/about-the-company
Følg pressemeldinger fra The Avinor Group
Registrer deg med din e-postadresse under for å få de nyeste sakene fra The Avinor Group på e-post fortløpende. Du kan melde deg av når som helst.
Siste pressemeldinger fra The Avinor Group
Second Quarter 2024: Weak improvement in results, but strengthened framework conditions are essential28.8.2024 13:43:00 CEST | Press release
-Measures to improve revenues and reduce costs remain highly prioritized within the group. There is a dialogue with the owner regarding actions that can and should be implemented to ensure Avinor's sustainable financial framework, says CEO Abraham Foss.
DAT is now part of the Domestic Transfer service at Oslo Airport28.8.2024 09:00:16 CEST | Press release
If you are arriving at Oslo Airport on an international flight with either SAS, Widerøe, or Atlantic Airways and are continuing onwards on a domestic flight in Norway with DAT (Danish Air Transport), you no longer need to collect your luggage and recheck it.
High international traffic this summer12.8.2024 11:01:00 CEST | Press release
4.9 million travelers used Avinor's airports in July. This is an increase of 3 percent compared to July last year. A large part of the growth originates from foreign tourists traveling to Norway. The total number of flights is approximately the same as last year.
Hong Kong Air Cargo opens new route to Oslo airport starting September 48.8.2024 09:55:58 CEST | Press release
Oslo Airport is expanding its network with a new cargo route: Hong Kong Air Cargo will launch a weekly flight between Hong Kong and Oslo starting September 4. This new route marks an important step in strengthening trade and transportation between Norway and Asia.
Passenger numbers increased internationally but declined domestically in June10.7.2024 12:00:00 CEST | Press release
4.8 million travelers used Avinor's airports in June. This is an increase of 2 percent compared to June last year. It is international traffic that is increasing, with a substantial 9 percent. Domestic traffic, on the other hand, declined by 3 percent compared to June last year.
I vårt presserom finner du alle våre siste pressemeldinger, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.
Besøk vårt presserom