Sheremetyevo Airport reports sharp rise in profit and revenue for 2019, steady progress in reconstruction projects30 April 2020
Sheremetyevo International Airport Joint Stock Company (SVO JSC) reported revenue of 82,088 million rubles for 2019, and increase of 41.6% over last year, and an operating profit of 27,083 million rubles, an increase of 38.8% over 2018.
The audited consolidated financial statements of SVO JSC and its subsidiaries (the Group) for 2019 were approved at a regular meeting of the board of directors. The financial statements were prepared in accordance with the requirements of International Financial Reporting Standards (IFRS) and reviewed by the independent auditor Ernst & Young LLC.
IFRS key figures
Indicator Description | 12 months
| 2018 | 2019 | changes
Passenger traffic (thousands of people): | 45,836 | 49,932 | 8.9%
Revenue (mill. rubles): | 57,980 | 82,088 | 41.6%
Operating expenses (mill. rubles): | 38,467 | 55,005 | 43%
Operating profit (mill. rubles): | 19,513 | 27,083 | 38.8%
Net profit for the period from continuing operations (mill. rubles): | 11,021 | 22,341 | 102.7%
Reconstruction of runway and apron are proceeding on schedule.
The Board of Directors also approved the progress report on the project to reconstruct Runway 1 and the western section of the apron, which will be rebuilt to accommodate parking for aircraft and house a number of other airport facilities. To ensure the reconstruction of these facilities at the airport, a crushing-and-screening complex and two concrete plants have been installed. More than 900 workers and specialists, 35 units of special equipment and 215 dump trucks were involved.
At this stage, the removal of the pavement on old Runway-1 has been completed, and work is under way on the arrangement of soil, the installation of engineering networks and new Runway-1 coatings. Work is being done regularly and is ahead of schedule. The work is scheduled to be completed by the end of this year.