Aarhus Airport releases its annual financial statements for 2022, which are in line with expectations. The airport has advanced its investment in the growth strategy. This is reflected in this year's results with a deficit of 86.3 million, while the airport emerges in a highly competitive international league.
The desire to travel returned in full force in April 2022, and the summer showed the highest passenger activity ever, with Aarhus Airport breaking summer records in June, July, and August. However, the positive trend has not yet translated into the bottom line. According to the airport’s recently approved annual financial statements, there is a deficit of 86.3 million Danish kroner, which represents an 83 percent increase compared to 2021. This aligns with the expectations, stated the chairman of the airport’s board.
“We anticipate experiencing positive operating results in 2026. Heavy investments have been made to create an internationally recognized airport that can support the growth our ambitious strategy is built upon. We aim to reach 1.5 million passengers per year, but the potential is much greater. We have a long-term plan that aligns with the development of Denmark’s second-largest economic growth center,” said Lars Dige Knudsen, who assumed the role of chairman in July 2022.
In the coming year, Aarhus Airport expects a pre-tax result in the range of a 75-80 million Danish kroner deficit, as ongoing investments in the airport continue to be executed in line with the business plan, affecting the operating result. Over the past three years, the airport has expanded to double its size, including a new sky lounge, duty-free shop, new gates, and an integrated digital airport hotel. The final stage of the terminal renovation is expected to be completed in early 2024. At the same time, the airport has strengthened its route development efforts with the aim of attracting new airlines and increasing the growth of routes targeted at the business community and leisure travelers in East Jutland.
“We need to surpass 1 million passengers before we see a positive bottom line. Passenger growth is picking up speed in 2023, with May delivering the highest number of international passengers ever. Our ambition is to achieve a 25 percent growth compared to 2022, resulting in around 530,000 passengers this year. The conditions to become East Jutland’s preferred airport are in place, and the positive dialogues we have with airlines confirm that our goal will be achieved within the next 4-5 years,” continued Lars Dige Knudsen.
The airport expects significant growth in traffic and passenger numbers in the coming years as the relevant routes become available from Aarhus Airport. In 2024, Aarhus will host the largest European aviation conference, where up to 1,500 decision-makers will have the opportunity to see East Jutland’s potential up close.
At the end of the financial year, Aarhus Airport’s equity amounted to 223 million Danish kroner.