Financial performance in January–December 2025 in brief:
- Finavia Group's revenue increased by 12.8 per cent and amounted to EUR 447.4 million (396.5)
- Revenue growth was driven by the increase in international air travel as well as the acquisition during the reporting period of the real estate investment and development company Avia Real Estate. Excluding the impact of Avia Real Estate, revenue growth amounted to EUR 25.1 million, or 6.3%. Avia Real Estate has been consolidated into the Finavia Group’s figures since February 2025.
- The operating margin increased to EUR 155.9 million (119.5).
- The operating result was EUR 27.2 million (4.0), or 6.1 per cent (1.0) of revenue.
- The result for the financial year was EUR 7.7 million (-4.4)
Finavia Group’s key figures
| 2025 | 2024 | Change, % | |
| Number of passengers, million | 20.4 | 19.6 | 4.4 |
| Revenues, EUR million | 447.4 | 396.5 | 12.8 |
| Operating margin, EUR million | 155.9 | 119.5 | 30.5 |
| Operating margin, % | 34.8 | 30.1 | |
| Operating result, EUR million | 27.2 | 4.0 | 574.3 |
| Operating result, % | 6.1 | 1.0 | |
| Result for the period, EUR million | 7.7 | -4.4 | |
| Return on equity, % | 1.2 | -0.7 | |
| Return on investment, % | 1.7 | 0.4 | |
| Equity ration, % | 40.0 | 43.8 | |
| Cash flow-based investments, EUR million* | 65.1 | 49.5 | 31.7 |
| Net debt | 807.9 | 604.8 | 33.6 |
| Balance sheet total, EUR million | 1,663.6 | 1,496.2 | 11.2 |
| Average number of employees (person-years) | 2,192 | 2,041 | 7.4 |
| Salaries and fees, EUR million | 116.7 | 108.0 | 8.1 |
*Investments in tangible and intangible assets
Kimmo Mäki, CEO:
Finavia reached an important milestone in 2025: The result for the financial year was positive for the first time since 2019. The company’s long-term efforts toward renewal and growth led to a turnaround in results, and we managed to break the streak of losses that followed the COVID-19 pandemic and the consequences of the restrictions on Russian airspace. In 2025, Finavia’s revenue increased by 12.8 per cent and amounted to EUR 447.4 million. The result for the financial year was EUR 7.7 million. The growth in revenue was driven by the positive development of aviation revenues and other commercial revenue, as well as the acquisition during the reporting period of the real estate investment and development company Avia Real Estate. Excluding the impact of Avia Real Estate, revenue growth amounted to EUR 25.1 million, and 6.3%. Avia Real Estate has been consolidated into the Finavia Group’s figures since February 2025.
We have also been successful in improving profitability and cost management. The operating margin, which measures the efficiency of the company’s operations, was at the highest level in the company’s history. Operational efficiency, good profit-making ability and an improved financial position support the implementation of the company’s growth strategy and enable investments in growth. Our strong financial position enables us to actively reduce the net debt caused by investments in Helsinki Airport and our airports in Lapland, manage the regional airport’s investment needs and prepare for the growth of air traffic.
The uncertainty of our operating environment, the changing competitive situation and the expectations of customers, as well as the increasing regulatory requirements of the airport business, require continuous reform from the company. In 2025, we renewed our strategy to increase our growth opportunities and value creation. Profitable growth in air traffic and operational efficiency are at the heart of our new strategy. In addition to air traffic, we aim for profitable growth also in our commercial and real estate business, and we actively promote new growth opportunities. In connection with our strategy renewal, we also made changes to our operating model and organisation. The new management system has been successfully implemented in autumn 2025. The integration of the real estate investment and development company Avia Real Estate, acquired in January 2025, as part of Finavia's new organisation has been completed. Overall, the implementation of the strategy has started as expected. Starting from 2026, Finavia will report externally in accordance with its new operating model.
A total of 20.4 million passengers travelled through Finavia’s airports in 2025. Passenger volumes grew at Helsinki Airport and in Lapland in particular. At the end of the year, there were 145** direct flight routes from Finavia’s airports to various parts of the world. We have continued our active efforts to increase new flight connections across the airport network.
At Helsinki Airport, the total number of passengers was 17.0 million (16.3), representing an increase of 4.1 per cent when compared to 2024. The number of passengers at Helsinki Airport was approximately 80 per cent of the number of passengers in 2019, which is still lower than the average for other key European airports. The share of international transfer travelling at Helsinki Airport was 27.1 per cent (25.5). The closure of Russian airspace has a significant impact on international transfer travel from Asia.
The Regional Airports business comprises 19 airports, for which the total number of passengers rose by 5.7 per cent and was approximately 3.5 (3.3) million. At regional airports, the development of passenger volumes reflects regional differences, tourism seasons and the route solutions of airlines. Among the tourism-driven airports in Northern Finland, passenger volumes grew most at Rovaniemi Airport, which exceeded the milestone of one million annual passengers for the first time in 2025. In 2025, Finavia invested in the growth of tourism in Lapland by expanding the terminal at Rovaniemi Airport. Despite the increased number of passengers in Lapland, the Regional Airport business was loss-making, particularly due to the low number of flights and passengers at small airports.
The highlight of our sustainability efforts in 2025 was nearly all Finavia’s airports achieving net zero carbon emissions for their own operations. Other important highlights of the year were again our excellent personnel survey results and customer satisfaction scores. In 2025, Helsinki Airport was again recognised as the best airport in Europe in terms of the customer experience in its size category and as the best airport in Northern Europe.
Outlook for 2026
The company expects its comparable revenue for 2026 to be higher than in 2025. This expectation is based on the current view of the development of air traffic. The comparable operating profit is expected to improve in 2026. The company expects its comparable revenue for 2026 to be EUR 460–490 million and its comparable operating profit to be EUR 40–60 million.
The operating environment is expected to improve in 2026 but remain challenging. Key uncertainties affecting the outlook include geopolitical crises and instability, the effects of the closure of Russian airspace as well as the increase in the demand for air travel. The development of macroeconomics affects both consumers’ willingness to travel and organisations’ decisions concerning business travel.
Ordinary General Meeting
The Ordinary General Meeting of Shareholders (GM) of Finavia Corporation will be held on 27 March 2026.
Finavia’s Annual Report 2025 has been published on our website Annual report 2025 | Finavia. The Annual Report includes the Board of Directors' Report, Financial Statements, Corporate Governance and Remuneration Statement, and Sustainability Report.
**Calculation method: IATA city codes are used in calculating the number of destinations. For example, London counts as one destination, even though there are flights to four different airports in the area (Heathrow, Gatwick, Stansted and Luton).
