2024 was a very good year for Genève Aéroport. With 17.8 million passengers and a level of use close to that of 2019 (-0.7% compared with 2019 and +8% compared with 2023), Genève Aéroport's turnover rose by 9% compared with 2023 to reach CHF 533.7 million. Net profit reached CHF 110.4 million before retrocession of half of this profit to the canton of Geneva. The financial performance for 2024 is excellent and confirms the company's return to financial solidity.
In 2024, Genève Aéroport recorded a profit of CHF 110.4 million (CHF 88.6 million in 2023) before retrocession to the State of Geneva, which owns the airport, and CHF 55.2 million after retrocession
Thanks to strict control of operating costs, improved efficiency and dynamic activities, Genève Aéroport is improving its profitability. Earnings before interest, tax, depreciation and amortization (EBITDA) margin is close to 40%: +39.6% in 2024 compared to +38.6% in 2023.
Revenues, boosted by growth in passenger traffic and fee adjustments, rose by 9% compared to 2023 to reach CHF 533.7 million. For the record, pre-crisis revenues in 2019 CHF 493.9 million. Aeronautical revenues increased by 10.7% to CHF 343.8 million compared to 2023. Non-aeronautical revenues (from shops, car parks, rents, etc.) rose by 6.1% to CHF 189.9 million. The share of aeronautical revenue in Genève Aéroport's total revenue increased slightly compared to 2023. It will represent 64.4% at the end of 2024 (63.4% in 2023).
On 31 December 2024, the company has 1,066 employees, representing 1,006.1 FTE (full-time equivalent, excluding trainees and apprentices), compared with 980.8 FTE on 31 December 2023.
Cash flow from investment amounted to CHF 90.1 million in 2024, a level higher than in 2023 with the continued construction of the new baggage sorting system.
Thanks to the good results recorded in 2022, 2023 and 2024, Genève Aéroport is rigorously pursuing its debt reduction process. Net debt fell from CHF 685 million in 2022 to CHF 482 million at the end of 2024. With a debt-to-equity ratio of 2.3x at the end of 2024, Genève Aéroport is perfectly aligned with its target. Favorable conditions have been created to enable to calmly implement its investment plan and adapt its infrastructure to the 2040 horizon.
More passengers than movements
In 2024, Genève Aéroport handled 17,796,333 passengers, up 7.97% on 2023. Total landings and take-offs amounted to 179,107 movements, 3.62% more than in 2023. Last year, the increase in the number of passengers was significantly higher than the increase in the number of movements.
For several years now, Genève Aéroport has been offering financial incentives to encourage airlines to use the latest-generation aircraft, thereby helping to limit noise emissions. These class 5 aircraft, which are quieter and consume less fuel, accounted for 31.85% of scheduled and charter aircraft movements in 2024
(32.53% in 2023
).
First effects of the new noise quota system
With a view to reducing the number of night flights, and in particular late take-offs after 10pm, Genève Aéroport has introduced a system of dissuasive charges which came into force on 1
st January 2025.
Discussed with all the airlines involved in evening flights, this program was presented and already tested in 2024. The results: many airlines have adjusted their flight times between 8pm and 10pm, and modified their rotations and flight plans to reduce the number of late take-offs. With very tangible results. The number of take-offs after 10pm is down by 36.16% compared with 2023.
146 destinations : London tops the list
Service to Genève Aéroport, which amounted to 148 destinations in 2023, remains in 2024 stable with 146 destinations. The market shares of the top five airlines for the past year were as follows: easyJet (46.9%), SWISS (12.4%), British Airways (4.5%), Air France (3.2%) and Iberia (2.9%). The top 5 destinations by city are London, Porto, Lisbon, Paris and Amsterdam. The top non-European destination is Dubai (14
th rank).
The year 2024 saw a strong recovery in air freight. Despite an economic climate impacted by geopolitical tensions in several parts of the world, the annual tonnage of freight handled at Geneva was 92,615 tons, 39.3% up on 2023. This freight volume is the second-highest result in the airport's history.
Strategy for reducing greenhouse gas emissions
One of the highlights of 2024 was Genève Aéroport's strategy for reducing greenhouse gas emissions. The airport aims to achieve Net-Zero by 2037 for its own activities (scopes 1 and 2). In addition, alongside the aviation industry, it will actively contribute to Net-Zero by 2050 for the entire chain of activities (scope 3).