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Operating performance – Sector analysis

Commercial Aviation

The Commercial Aviation business includes Aviation and Non Aviation operations: the former includes the management, development and maintenance of airport infrastructure and plant and the offer to SEA Group customers of services and activities related to the arrival and departure of aircraft, in addition to airport safety services. The revenues generated by these activities are established by a regulated tariff system and comprise airport fees, fees for the use of centralised infrastructure, in addition to security fees and tariffs for the use of check-in desks and spaces by airlines and handlers. The Non-Aviation business however provides a wide and segregated offer, managed both directly and under license to third parties, of commercial services for passengers, operators and visitors to the Airports, in addition to the real estate segment.  The revenues from this area consist of the market fees for activities directly carried out by the Group and from activities carried out by third parties under license and of royalties based on a percentage of revenues generated by the licensee, usually with the provision of a guaranteed minimum.

This segment includes also income from warehouse, space and office rental to Cargo business operators, such as cargo handlers, transport companies and couriers.

General Aviation

The General Aviation business includes the full range of services relating to business traffic at the western apron of Linate airport. The comparative figures from 2016 also include the results of the handling and general aviation business, consolidated line-by-line until March 31, 2016.


The energy business includes the generation and sale of electricity and heat to the market and third parties. 

The main results of each of the above businesses are presented below.

(Euro thousands)Commercial AviationGeneral AviationEnergyConsolidated
OPERATING REVENUES 670,856 625,870 12,124 11,750 14,718 15,892 697,698 653,512
EBITDA 233,435 226,076 7,867 6,727 1,704 1,600 243,006 234,403
EBIT 121,800 144,873 5,481 4,907 609 219 127,890 149,999

The EBITDA shown above includes the IFRIC margin.