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Keflavík Airport

    Isavia’s annual financial statements for 2024

    Isavia Group’s EBITDA (earnings before interest, taxes, depreciation, and amortisation) for 2024 was a positive figure of ISK 10.7 billion.

    This compares to a positive operating result of ISK 8.1 billion for 2023. Revenue rose by some 15%, or ISK 6.9 billion, reaching ISK 51.9 billion. Over 8.3 million passengers used Keflavík International Airport last year. This compares to 7.8 million in 2023.

    The company’s total comprehensive income was ISK 5.2bn, compared with ISK 2.1bn in 2023. 2023 saw a positive exchange-rate effect on long-term loans of ISK 2.1 billion, as compared to ISK 180 billion in the previous year.

    Volcanic eruptions at the end of year 2023 negatively impacted the number of passengers using Keflavík International Airport in the last year, making us unable to reach our goals of income

    Sveinbjörn IndriðasonCEO

    “In addition we had a relative higher number of transfer passengers than expected, a development that at the same time negatively impacted the airport’s income numbers. However, we welcome the increased number of transfer passengers because in the long-term they strengthen our position as a connection hub. The company’s performance and profitability was nevertheless good, although we need to continue to find ways to increase the profitability of the company’s operation in order to be able to finance future developments.”

    Last year was the biggest investment year since the establishment of the company, where investments amounted to ISK 18.0bn, of which 16.9bn were in Keflavík International Airport. We expect large-scale investment activities this year and in the coming years in relation to the airport’s development plan. A moderate increase in the number of passengers for 2025 is expected, or around 0.8%, mostly contributed to arriving passengers in Iceland. The company’s forecast estimates that 2025 will be a record year in the number of travellers to Iceland.

    Isavia’s Annual General Meeting will be held on 26 March, when the company's annual report for 2024 will be published.

    Key fig­ures from Isa­v­ia’s annu­al fin­anci­al statements for 2024

    • Revenue: ISK 51,917 million
    • EBITDA (Earnings before interest, taxes, depreciation, and amortisation): ISK 10,659 million
    • EBIT (Earnings before interest and taxes): ISK 6,106 million
    • Post-tax overall performance (loss): ISK 5,231 million
    • Cash and cash equivalents: ISK 5,889 million
    • Investments in fixed assets: ISK 17,958 million
    • Equity at end of period: ISK 49,293 million
    • Equity ratio: 42.9%