Real Estate
Real estate activities consist of a diversified real estate portfolio of offices, business premises and other properties. These assets are typically offered to tenants as prime locations that sit at the upper end of the Dutch office market. This business area ensures attractive business locations and generates robust revenues and cash flows, largely through rental income. These activities are also important for risk diversification since real estate performance is largely unaffected by developments in the aviation industry.
Key figures
EUR million | 2018 | 2017 | % |
---|---|---|---|
Total revenue | 182 | 207 | -12.1 |
Other income and results from investment property | 104 | 68 | 53.4 |
Operating expenses | 96 | 112 | -14.7 |
EBITDA | 191 | 163 | 17.0 |
Depreciation | 20 | 25 | -16.6 |
Impairment (incl. reversals) | -2 | - | >-100 |
Operating result | 172 | 138 | 24.6 |
Average fixed assets | 2,015 | 1,972 | 2.2 |
EUR million | 2018 | 2017 | % |
---|---|---|---|
Investment property: buildings, including service charges | 90 | 89 | 1.0 |
Investment property: land | 32 | 29 | 9.6 |
Operating property, including service costs | 49 | 50 | -0.2 |
Other | 11 | 39 | -71.8 |
Total revenue | 182 | 207 | -12.1 |
Average occupancy rate

Return on offices1
(in %)
- 1 Only standing investments. A standing investment is an object that was part of the portfolio throughout the year (i.e. from 1 January through 31 December) without being the subject of any partial transactions (partial purchase or sale) or development/redevelopment.
Return on industrial property1
(in %)
- 1 This concerns the property index as included in the MSCI Real Estate benchmark. It does not include the activities of SRE International.
Most-read sections
Facts and figures
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- As an airport operator, we are responsible for the ...Strategic themes
- The guiding principles of our strategy have been formulated in ...2019 Management agenda
- Every year, we translate our long-term strategy into a four-year ...Network of destinations
- Schiphol welcomed 71.1 million passengers ...Financial Statements
- Our consolidated and company financial statements ...