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Swedavia (AIR) investor relations material
Swedavia Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Passenger volume increased 2.7% in Q2 and 4.4% for H1 2026 year-over-year, driven by higher international travel and expanded route offerings.
Net revenue rose 8.6% in Q2 and 9.7% for H1 2026 compared to last year, supported by fee adjustments and increased commercial sales per passenger.
Operating income improved to SEK 222 M in Q2 (up SEK 43 M) and SEK 121 M for H1 (up SEK 78 M), but sustainable profitability remains a focus.
Net income for Q2 was SEK 106 M (up from SEK 87 M), while H1 net income was SEK -36 M (improved from SEK -81 M).
Investments totaled SEK 1,052 M in H1, mainly in terminal infrastructure at Stockholm Arlanda Airport.
Financial highlights
Q2 net revenue: SEK 1,943 M (Q2 2025: SEK 1,789 M); H1 net revenue: SEK 3,617 M (H1 2025: SEK 3,299 M).
Q2 operating income: SEK 222 M (Q2 2025: SEK 178 M); H1 operating income: SEK 121 M (H1 2025: SEK 43 M).
Q2 net income: SEK 106 M (Q2 2025: SEK 87 M); H1 net income: SEK -36 M (H1 2025: SEK -81 M).
Cash flow from operating activities: SEK 570 M in H1 (H1 2025: SEK 129 M).
Investments: SEK 1,052 M in H1 (H1 2025: SEK 1,011 M).
Outlook and guidance
Demand for air travel remains strong despite global uncertainties, but the outlook for autumn is uncertain and will depend on geopolitical and economic developments.
Focus remains on increasing revenue, improving cost-effectiveness, and achieving sustainable profitability.
- Passenger and revenue growth drove improved earnings, despite ongoing external risks.AIR
Q1 202631 Jul 2026 - Q2 2024 saw higher revenue and profit, led by international travel and commercial gains.AIR
Q2 20241 Jul 2026 - Revenue and passenger growth led to improved profitability and major infrastructure investment.AIR
Q4 202513 Feb 2026 - Passenger and revenue growth drove higher profits, with major investments at Arlanda.AIR
Q3 20254 Nov 2025 - Q2 saw revenue and profit growth, new routes, and strong sustainability progress amid ongoing risks.AIR
Q2 202517 Jul 2025 - Revenue and profit up on international growth; domestic weakness drives major restructuring.AIR
Q3 202413 Jun 2025 - Swedavia posted higher revenue and improved profit, advancing green investments.AIR
Q1 20256 Jun 2025 - Positive operating profit and international growth mark Swedavia's 2024 recovery.AIR
Q4 20246 Jun 2025
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