SEA Group manages the airports of Milano Linate and Milano Malpensa providing all services and related activities.
SEA Group
SEA Group, based on the forty year Agreement signed between SEA and ENAC in 2001, manages the Malpensa and Linate airports which are ranked among the first ten airport systems in Europe for volume of traffic, in both the passenger and cargo segments.
Group structure
Ethical Vision
Diamond of values
We have defined 9 values and 3 ethical levels that express our company's responsibility, deeply intertwined with our strategy, in the Group’s internal and external relations.
Our ability to generate value over time is a direct result of our perseverance and consistency with the company's mission, geared toward ensuring full accessibility and quality of service in all the contexts in which we operate.
It is precisely our focus on the context that makes our values so important: meritocracy cannot take shape without transparent relationships, team spirit is nourished by respect and a strong inclination to co-operation, and efficiency can only be achieved if it is pursued by an organisation geared towards professional excellence and meritocracy.
"An ethical stance is what would be adopted by a calculating mind, after having done its sums properly."
SEA has identified the specific, distinctive characteristics of its value creation processes in: their alignment with the public good, through the management and development of airport infrastructure that acts as a gateway to the world for both people and cargo, bringing well-being and prosperity to the local community; the overriding focus on innovation, as the response of choice to the growing complexity characterising business operations, which raises business risk; the constant search for efficiency, in terms of the focus placed on the best use of company resources and the identification of the best conditions for their use.
In pursuing this conception of value creation, SEA embraces an approach to the management of services centred on the cultivation of professional excellence, the consolidation and progressive expansion of meritocratic criteria in the assignment of roles and responsibilities within the organisation, the encouragement of a team spirit that inspires vision and cooperative solutions, both within the company system and in relationships with the general framework of reference.
For SEA, the underlying bases of this business approach are grounded in the development of healthy relationships both within the organisation and between the organisation and its stakeholders, built effectively on respect, transparency and cooperation.
Ethics of relationship
Respect and transparency are the most concrete and immediate embodiment of the ethics of relationships, forming the cornerstones that underpin the pact of trust between the company and its stakeholders. They are bridged by cooperation, which means pooling together our intelligence and sensibility in the scrupulous pursuit of the targets the company sets.
Ethics of service
The ethics underpinning our approach to service is grounded first and foremost in the constant cultivation of professional excellence. Such excellence is not produced spontaneously. Rather, it is a response to the care and attention dedicated to growing the organisation’s human capital, within a framework of meritocracy. The provision of a quality service draws nourishment from a participatory and joint approach to developing the stimuli that everyone (whether inside or outside the company) receives.Fostering a strong team spirit is fundamental, as it focuses awareness in all situations on the fact that objectives are achieved by thinking and working within a systemic approach.
Ethics of value
The value creation process in the company both depends on and feeds into the prosperity of the communities that revolve around our airports. The value of our company grows when it is tied to our ability to bring together demand and supply for air transport in the best way possible to satisfy the needs of the socio-economic system of which we are a part. All this embodies the public good that lies at the heart of our business, representing the continuing thread between the company’s past and future. A new horizon shaping our business is the focus on innovation, representing the approach of choice in responding to the trends transforming our sector. Then there is the need to emphasise the value of efficiency and definitively abandon the belief that a service of public interest can be provided effectively at any cost.
Mission
The SEA Group mission is to create value for all parties directly involved in the Group business: shareholders, customers and employees.
This objective is pursued through the offer of services and solutions to meet the growing demands of a market comprising multiple entities including passengers, airlines, airport operators and commercial partners, operating on Malpensa and Linate airports.
The airport infrastructures managed by SEA guarantee aircraft access towards major international destinations to a multitude of users operating in a catchment area that is amongst the most developed in Europe. The aim is to provide a point of reference for the growth of the economy and territory of the whole of Northern Italy.
The services provided by the SEA Group are guaranteed by the management and development of safe, avant-garde infrastructures. The social growth of the reference community and environmental protection are considered essential.
SEA Group numbers
| OPERATING RESULTS | 2023 | 2022 | |
|---|---|---|---|
| Revenues | thousands of Euro | 801,105 | 767,516 |
| EBITDA (1) | thousands of Euro | 335,284 | 290,249 |
| EBIT | thousands of Euro | 206,210 | 199,500 |
| Pre-tax result | thousands of Euro | 223,240 | 197,639 |
| Net result from assets held-for-sale | thousands of Euro | 775 | (2,027) |
| Group Net Result | thousands of Euro | 156,207 | 182,460 |
| FINANCIAL DATA | 2023 | 2022 | |
| Net capital employed | thousands of Euro | 784,149 | 731,037 |
| Group Shareholders' equity | thousands of Euro | 499,017 | 342,836 |
| Net financial debt (2) | thousands of Euro | 285,101 | 388,170 |
(1) EBITDA is calculated as the difference between total revenues and total operating costs, not including provisions and write-downs, restoration and replacement provisions and amortisation & depreciation.
(2) Net financial debt or Net financial position (NFP) is the sum of liquidity, financial receivables and current securities, net of financial payables (current and non-current) and the fair value of financial debt hedging derivatives.