Palermo Airport’s budget soars to 12 million in 2023, up 42.8%

Last Updated: May 11, 2024

All’aeroporto di Palermo vola anche l’utile di bilancio: 12 milioni nel 2023 con un aumento del 42,8%

The Board of Directors of Gesap, the management company of Falcone Borsellino International Airport in Palermo, has approved the 2023 financial budget project, which will soon be submitted to the shareholders’ meeting for approval. The net profit for the year amounts to 12,235,898 euros, the best result ever, up by 42.8% compared to 2022 (8,566,456), with an EBITDA of over 30 million euros compared to almost 21 million in the previous year. The production value also increased to 97,390,346 euros, up by 15.1% compared to 2022 (84,575,040).

The strong increase in passenger and flight traffic at the airport is at the basis of these positive economic results: aircraft movements have increased by 7% and passengers by 14%. This led to a revenue increase of over 12 million euros (+13%). Additionally, the production costs have decreased in relation to the revenue of the management.

“The success of this budget is due to investments. Only in this way the airport was able to develop and grow. In the coming days, the works of the first phase will be completed. It is essential to focus on investments to modernize the airport infrastructure. We have achieved an important economic result that can be used, if the shareholders wish, to start privatization procedures, as there is currently market interest in investing in the airport sector,” said Vito Riggio, CEO of Gesap.

The combination of economic results has led to a gross operating margin of 27.4 million euros – an increase of over 7.7 million – and a positive income before taxes of 16.8 million. “Gesap’s management is strongly focused on passenger well-being, made possible thanks to the collaboration and commitment of those working at Falcone Borsellino,” said Salvatore Burrafato, president of Gesap. “We are proud of the good financial results, which should guide us for the future.”