Arlandastad Group AB acquires 90.1% in Stockholm Skavsta Flygplats AB and will develop 4.84 million square meters of land in partnership with Nyköping municipality. The zoning work for the first stage is already underway. The purchase price is SEK 117 million, of which SEK 29 million is paid in cash and the remainder by taking over debts. Closing will take place during April 2022. The acquisition concerns the company Airports Worldwide Sweden Holding AB, which is owned by French Vinci Airports.
[Dieter Sand and Cdric Fechter signing the agreement Stockholm Skavsta Flygplats]
The municipality of Nyköping, which still owns 9.9% of the company, is currently working on new zonal plans for the first stage, an area which comprises approximately 600,000 sq.m. of a total of 4.84 million sq.m.
- This project suits us perfectly, it has the same potential as our project in Arlandastad. Nyköping has a very attractive location with proximity to Stockholm, the E4, the Baltic Sea's deepest port in Oxelösund, the planned Ostlänken railway and, not least, an airport with foreign destinations. The first stage includes an expanded project portfolio of between SEK 5-10 billion, a significant addition to our existing project portfolio, which prior to the acquisition amounts to approximately SEK 40 billion, says Dieter Sand, President and CEO, Arlandastad Group.
Stockholm Skavsta Airport, which is Sweden's fourth largest airport in terms of passenger numbers, is of great importance to the region's business and tourism industries. Airport operations will continue to develop with a major focus on restoring profitability.
- The airport is an important engine for the region. And so it is especially pleasing to see Arlandastad enter as the new main owner of Stockholm Skavsta Airport. We see Skavsta playing a clearer role in the national airport system, and at the same time, the airport gets an owner who is an expert in property development with very good opportunities for creating a profitable airport. As a municipality, we are really looking forward to working together on the continued development of the airport area, says Urban Granström, chairman of the municipal board in Nyköping.
In this context, Arlandastad and VINCI Airports have signed an agreement enabling SunMind, a VINCI Concessions subsidiary, to develop, finance, build and maintain a solar farm on the airport site. Covering an area of 100 hectares and with a capacity of almost 100 MWp, it will be one of the largest solar power plants in Sweden. Connected to the public grid, it will help supply energy to the municipality of Nyköping.
Arlandastad and VINCI Concessions will together explore opportunities for developing a programme of photovoltaic power plants in Sweden by using land in Arlandastad's portfolio.
- It will be a flying start and completely in line with our ambitions to build both sustainably and profitably. Vinci, owner of SunMind, is one of the world's largest infrastructure companies, so they are a perfect partner for us, says Dieter Sand.
Nicolas Notebaert, CEO of VINCI Concessions and Chairman of VINCI Airports, continues:
- This double success marks both a strategic step for VINCI Concessions' photovoltaic business and the continuation of our airport strategy, based on investing in assets with high growth potential. We are very pleased to be working with Arlandastad, a sound partner for the Nordic photovoltaic market, and a company that will continue the development initiated by VINCI Airports at Stockholm Skavsta, in partnership with the municipality of Nyköping.
In the years before the pandemic, Stockholm Skavsta Flygplats AB had sales of approximately SEK 150 million, with a positive result. During both of the pandemic years, 2020 and 2021, the company made losses of SEK -48.3 million each year*. Arlandastad Group has ambitions to return the company to positive results as soon as possible. For Arlandastad Group, the acquisition is an opportunity to develop both new and existing operations which, in the long term, create an attractive destination.
* comparable result excluding reversal of impairment 2021.
About Arlandastad Group
Arlandastad Group AB is a real estate company that acquires and redevelops properties for its own management. As of 31 December 2021, the property value amounted to SEK 6.2 billion and the net asset value to SEK 81 per share.
Prior to the acquisition of Stockholm Skavsta Airport, the company's project portfolio is estimated at SEK 40 billion, with an expected project profit of SEK 12 billion. More information about Arlandastad Group can be found at www.arlandastadgroup.se.
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About VINCI Airports
The world's leading private airport operator, VINCI Airports operates 53 airports in 12 countries in Europe, Asia and the Americas. Thanks to its expertise as a global integrator, VINCI Airports develops, finances, builds and manages airports by providing its investment capacity and its know-how in optimizing operational performance, modernizing infrastructures and managing their operations and environmental transition. VINCI Airports is the first airport operator to have committed to a global international environmental strategy in 2016, to achieve the goal of net zero emission across its entire network by 2050.
For further information please contact VINCI Airports press office:
Phone: +33 634 780 936