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Aerodrom Ljubljana Announces Higher Q1 Profit

Brnik, 25 May (STA) - The operator of Ljubljana airport reported EUR 661,000 in net profit for the first quarter for the year, up 55.8% on the same period last year. The increase was mainly due to growth in cargo transport.

Aerodrom Ljubljana recorded 8,870 aircraft movements in the first quarter, which is down 4% year-on-year and represents 20.1% of the plan for the year.

Passenger numbers were down 0.4% to 240,000, which is 17.1% of the figure projected for the year, according to a press release posted on the web site of the Ljubljana Stock Exchange.

Most passengers flew eight scheduled flight carries, flying to 27 destinations, most often to Istanbul, Paris, Frankfurt, London and Munich. The number of charter passengers was down due to unrest in North Africa.

A rebound in passenger transport was observed in foreign carriers, the number of passengers on their flights rising by 27.7%.

Cargo transport increased by 28.3% to 4,765 tonnes, which is 24.8% of the figure planned for the year. Plane cargo increased by 6.5%, postal cargo by 11.9% and truck cargo by 12.1%.

Operating revenues were up by 3.6% to nearly EUR 7m (21.7% of the annual plan), while operating costs were brought down by 1.5%.

Earnings before interest, taxes, depreciation and amortisation amounted to EUR 2.16m, up 20.3% on the first quarter of 2010 and 17.9% of the annual plan.

Operating profit trebled to EUR 510,000, which represents 9.4% of the figure planned for the year, the company said in the press release, blaming the lag behind plan on the low season.

Together with net financial revenues of EUR 320,000, pre-tax profit added up to EUR 830,000 and net profit to EUR 661,000.

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