Annual Report 2022
Annual Financial Report as at 31 december 2022
Annual Report 2022

    Key Data

    Key Data
    key data

    KEY DATA

    Our 2022 in numbers

    After two difficult years for the aviation sector, we are back in profit. In 2022 our investments focused on innovation, sustainability, security and infrastructure to guarantee a passenger experience that moves with the times

    Revenues
    767,516
    Revenues (Euro thousands)
    Investments
    76,819
    Investments (Euro thousands)
    Group net profit
    182,460
    Group net profit (Euro thousands)

    Results

    Consolidated Results

    CONSOLIDATED RESULTS

    Taking off

    Sustainable airports and safe, easy and comfortable travel are targets we are constantly redefining. We did so again in 2022 with innovative projects designed to promote the green transition inside and outside our airports.

    Operating results

    (1) EBITDA is calculated as the difference between total revenues and total operating costs, not including provisions and write-downs, restoration and replacement provisions and amortisation & depreciation.

    Financial Data

    (2) Net financial debt or Net financial position (NFP) is the sum of liquidity, financial receivables and current securities, net of financial payables (current and non-current) and the fair value of financial debt hedging derivatives.

    Impact

    Impact
    Impact

    IMPACT

    The role played by our airports

    The heart of our business, essential for the growth of one of the most productive and developed regions in Europe: Milano Malpensa and Milano Linate connect the whole of northern Italy with leading international destinations. An open door to the world.

    Milan Malpensa Cargo City

    Business

    Business Segments

    BUSINESS SEGMENTS

    Our business in numbers

    We manage and develop two major airports: we keep people moving.

    aereo
    Commercial Aviation
    718,032
    Revenues
    278,950
    EBITDA
    190,333
    EBIT
    SEA Commercial Aviation

    The Commercial Aviation business includes the Aviation business — operating, developing and maintaining airport infrastructure and providing SEA Group customers with services related to aircraft landing and departure and airport security — and Non-Aviation business — commercial services for passengers, operators and visitors, and real estate sector.

    aereo
    General Aviation
    16,808
    Revenues
    11,299
    EBITDA
    9,167
    EBIT

    Figures in Euro thousands

    SEA General Aviation

    The General Aviation business includes the full range of services related to business traffic at the West apron of Linate airport and at Malpensa.

    Investments

    Investments
    Investments

    INVESTMENTS

    Looking to the future

    Infrastructural improvements are moving ahead at the Milano Linate and Milano Malpensa airports. With the resumption of air traffic linked to the end of the emergency and the cancellation of all remaining restrictive measures, we have rescheduled certain investments to guarantee the reopening of Terminal 2 at Malpensa, which is currently closed due to reduced air traffic following the pandemic.

    Total investments
    76,819
    Total investments (Euro thousands) including
    Terminals
    35,863
    Terminals
    Flight infrastructure
    13,486
    Flight infrastructure
    Cargo
    4,233
    Cargo
    Roads and Parking
    2,001
    Roads and Parking
    Networks and systems
    5,519
    Networks and systems
    ICT Projects
    4,646
    ICT Projects
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