SEA Milan Airports retail sales outstrip passenger growth in 2024

ITALY.  SEA Milan Airports – operator of Milan Malpensa and Linate airports – has reported record-breaking non-aeronautical revenue results for 2024. Shopping and dining turnover reached €432 million, a +15.4% rise against 2023.

Notably, the increase outstripped passenger growth (+11.5%) across the two Milan travel hubs. The 39.3 million passengers in 2024 (including 28.7 million at Malpensa) also set a new record.

The operator credited the strong retail and food & beverage performance not just to the rise in passengers, but also a “renewed interest in shopping, dining and premium services”.

The average spend per passenger reached €11, up +3.4% year-on-year.

Revenues in retail stores rose +15.3%, with spending per passenger up +3.1%. The F&B segment performed even more impressively, with sales increasing by +16.6%, while average spend per passenger was up +4.5%.

A standout performance was recorded airside at Malpensa Airport, where sales increased by +17.5% across duty-free and specialty retail and average passenger spend grew by +5.6%.

SEA Milan Airports noted that the luxury sector confirmed its key role, with Malpensa Terminal 1 luxury shops achieving a +13.9% revenue increase, and spend per passenger rising by an impressive +14.9%.

The company said this trend was driven in particular by the return and expansion of intercontinental traffic, especially from Asia, the UAE and North America.

SEA Milan Airports parent company SEA Group reported 2024 operating revenues of €814.4 million, a +7.9 rise against the prior year. EBITDA totalled €339.4 million (+5.1%) and net profits were €163.9 million.