Business News

Aerodrom Ljubljana Reports EUR 0.5M Net Profit for H1

Brnik, 29 August (STA) - Airport operator Aerodrom Ljubljana, which is expected to be privatised shortly, reported Friday a 3.7% year-on-year increase in passenger figures for the first six months and a 7.6% improvement in cargo transport. Net profit fell 74.6% to EUR 516,000 due to an impairment related to maintenance firm Adria Airways Tehnika.

Operating profit stood at EUR 2.8m, 0.5% less than in the same period last year, while earnings before interest, taxes, depreciation and amortisation (EBITDA) fell 1.8% to EUR 5.1m.

Aerodrom Ljubljana, one of the 15 companies on the privatisation list, said operating profit exceeded plans by 36.8% but added the results were not enough to offset a EUR 2.74m impairment related to the operator's investment in Adria Airways Tehnika.

The former maintenance branch of Adria Airways, which was sold by the flag carrier to the state-run PDP company and the airport operator in 2011 because of financial problems, has been exposed to a demanding business environment and has been performing worse than expected since April, Aerodrom Ljubljana said.

Meanwhile, Aerodrom's operating revenue increased by 2.7% to EUR 15.2m, as almost 600,000 passengers and 9,600 tonnes of cargo were transported in the first half of the year.

Nine carriers operated scheduled flights to the airport, with the company highlighting a 17.9% increase in passengers carried by Turkish Airlines.

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