Business Model

The SEA Group model is structured according to the business divisions in which it operates:

  • Aviation: “core” passenger and cargo aviation support activities;
  • Non Aviation: commercial services offered to passengers and airport users within the Milan airports; 
  • Energy: generation and sale of electric and thermal energy.

SEA manages its Aviation activities under license. 

The Non Aviation activities are partly carried out in sub-concession and partly through direct management.

SEA Group business model

SEA Group business model

Aviation Business

The Aviation business consists of the “core” passenger and cargo aviation support activities. This concerns the management, development and maintenance of infrastructure and plant within the airports and the offer to SEA Group customers of services and activities related to the arrival and departure of aircraft, in addition to airport safety services. 

The development of Aviation activities is centred on the extension of routes and arriving and departing flight frequencies at the airports of Malpensa and Linate, in order to develop passenger and cargo traffic, stimulating the growth of the existing airlines, in addition to attracting new airlines - in particular from countries with high economic growth. 

The revenues generated by Aviation activities are established by a regulated tariff system and comprise airport fees, fees for the use of centralised infrastructure and shared assets, in addition to security fees and tariffs for the use of spaces by airlines and handlers.

Aviation Business operating revenues (thousands of Euro)

Aviation Business operating revenues

Source: SEA

Non Aviation Business 

The Non Aviation activities concern the provision of aviation support operations completion services and include:

  • retail (duty free and duty paid sale to the public, catering, car hire, advertising, the management of spaces for the carrying out by third parties of banking activities);
  • the management of parking;
  • the management of cargo spaces;
  • other activities, included under the account “services and other revenues” (such as ticket office operations, vehicle maintenance, real estate, including rentals and concessions of sections of the airport and technological and design services and also non-regulated security services).

The revenues from this area consist of the market fees for activities directly carried out by SEA, in addition to royalties (based on a percentage of revenues generated by the licensee) from activities carried out by third parties under license, usually with the provision of a guaranteed minimum. 

In managing the Non-Aviation Business the SEA Group, no longer operating only as an airport manager whose activities are limited to the management of available spaces within the airport, is actively involved in the commercial development of the airports managed, operating in partnership with the commercial operators, in order to improve, extend and innovate the services provided to users.

Non-Aviation Business operating revenues (thousands of Euro)

Non-Aviation Business operating revenues

Source: SEA

Energy Business

SEA, through the subsidiary SEA Energia, produces electricity and thermal energy for the airports managed by the Group, selling excess production on the market. 

The operational choices of SEA Energia feature a strong commitment to: 

  • investing in technology innovation; 
  • ensuring energy efficiency; 
  • contributing to the development and well-being of the community in which it operates; 
  • respecting the environment.

The production of energy is carried out at co-generation plant located at the airports managed by the SEA Group. In particular, the Milan Malpensa co-generation station has an annual maximum production capacity of 613 GWh for electricity and 543 GWh for thermal energy. The Milan Linate plant has a maximum annual capacity of 210 GWh for electricity and of 157 GWh for thermal energy. Surpluses of electricity and thermal energy are sold on the Electricity Exchange, under bi-lateral contracts and since 2011 through involvement in commercial operations on the free market.

Energy Business operating revenues* (thousands of Euro)

Energy Business operating revenues

Source: SEA

In relation to the portion of energy sold to third parties, SEA Energia pursues a policy which identifies additional final customers with whom to undertake bi-lateral contracts, reducing the share sold directly on the Electricity Exchange.