Schiphol.nl   •   Contact

Home About us Core activities Real Estate

Real Estate



The business area Real Estate develops, manages, operates and invests in property on and around airports in the Netherlands and abroad. The portfolio comprises both operational and commercial real estate that, for the most part, is located on and around Amsterdam Airport Schiphol. The business area offers companies and logistics service providers a variety of locations, offices and business premises and different types of rental contracts, with the special benefit of being in the immediate vicinity of an international airport. Of the property included in the total portfolio, 87% is located at Amsterdam Airport Schiphol, 4% at and around the regional airports of Rotterdam and Eindhoven and 9% in Italy.

Sources of revenue

The main sources of revenue are the rental and development of buildings and land. Additional revenues are generated from granting leaseholds and from the sale of land and buildings. The changes in value of the property in any given year can have a disproportionate positive or negative effect on the result of Schiphol Group.

Real Estate in 2012
  • Revenues decreased slightly, while the rent levels remained virtually unchanged 
  • Operating result decreased sharply mainly due to devaluation of property, in Italy in particular
  • Value of investment property decreased by 1.3%
  • Occupancy rose from 88.5% to 91.8%, in part as a result of new tenants in the WTC and The Outlook (Cargill)
  • Contracts signed with Hilton Worldwide for the development of a new 5-star hotel at Schiphol Centre
  • Completion of a multi-tenant cargo building, an office building and a children's day care centre at Rotterdam The Hague Airport

Key performance indicators
Direct return on investment property
(in %)

2012

5.0

2011

6.3

Occupancy rates
(in %)

2012

91.8

2011

88.5

Leases expiring within one year
Based on annual rents (in %)

2012

5.2

2011

6.8



Key figures

EUR million

2012

2011

%

Total revenue

170

172

-1.0

Result on sale of investment property

12

1

Fair value gains on property

-23

-2

Operating expenses

136

99

37.3

EBITDA

61

90

-32.6

Operating result

23

72

-68.3

Average fixed assets

1,521

1,555

-2.2

RONA after tax

0.8%

3.5%

Returns (in %)1

2012

2011

RONA

Direct returns

Indirect returns

RONA

Direct returns

Indirect returns

Investment property

2.8%

5.0%

–2.2%

6.1%

6.3%

–0.2%

Assets under construction or in development

–7.1%

–7.1%

0.0%

–1,3%

–1.3%

0.0%

Assets used for operating activities

12.0%

12.0%

0.0%

14.3%

14.0%

0.3%

Total returns

3.2%

4.9%

–1.7%

6.6%

6.7%

–0.1%

  • Returns on average fixed assets, before tax