Model and business areas
As a result of the change in the scope of consolidation of SEA Group (departure of Airport Handling SpA and liquidation of SEA Handling SpA), business model is structured taking into account the areas currently managed by SEA Group.
SEA Group business model
SEA Group’s management of airports is performed by specific business units.
Source: SEA
Aviation business concerns management, development and maintenance of infrastructure and plants within the airports and offer of services, activities related to aircraft arrival and departure and security services to customers.
Revenues generated by these activities are defined by a system of regulated fees and are represented by:
- airport fees (aircraft, passengers and cargo);
- fees for use of centralised infrastructures (e.g. loading bridges, BHS, centralised information systems);
- fees for security checks (regarding passengers, carry-on baggage and 100% of hold baggage).
Security taxes and fees are set by Ministerial Decrees, while fees for use of centralised infrastructure are monitored by ENAC, which checks their fairness.
Non Aviation activities refer to services supporting the aviation activities and include a wide and varied offer, both in direct management and in sub-concession to third parties. These include commercial services for passengers, operators and visitors in airports, as well as the real estate business.
Revenues are represented by market fees for Non Aviation activities carried out directly and by royalties expressed as percentages of turnover, with guaranteed minimum, in case of activities carried out by third parties in sub-concession.
Specifically, it includes the following activities:
- retail (duty-free and duty-paid sales to the public, catering, car rental, management of spaces for third parties to carry out banking activities);
- management of car parks;
- management of cargo spaces;
- other activities, grouped under “services and other revenues” (ticketing, vehicle maintenance, real estate, including leases and concessions for parts of airport grounds, technological and design services and unregulated security services).
General Aviation
General Aviation business includes both general aviation activities carried out through subsidiary SEA Prime, which was acquired in 2013 and which provides the full range of services related to business traffic within the west apron of Linate airport, and general aviation handling activities of subsidiary Prime AviationServices, which carries out its activity at Linate airport and offers services at General Aviation airports of Milan Malpensa, Venezia Tessera and Roma Ciampino.
General Aviation business operating revenues (thousands of Euro)
Source: SEA
Energy
SEA Group guarantees energy self-sufficiency (heating and electrical) of both airports using a production system based on low environmental impact methane cogeneration plants managed by subsidiary SEA Energia. Malpensa cogeneration plant has an estimated annual maximum capacity of 613 GWh of electricity and 543 GWh of heat energy. Linate has an estimated annual maximum production capacity of 210 GWh of electricity and 157 GWh of heat energy. Electricity produced in excess of needs is sold through the electric power market. Surplus of heat energy produced by Linate power plant is used to supply Santa Giulia district of Milan. Through SEA Energia, the Group has green certificates that confirm the characteristics of the plants used.
Energy Business operating revenues (thousands of Euro)
Source: SEA