Business News

H1 Profit of Airport Operator Exceeds Plans

Brnik, 20 August (STA) - The net profit of airport operator Aerodrom Ljubljana in the first half of the year exceeded its plans by EUR 1.5m, according to unaudited results published on Tuesday. Revenues were up 1.9% year-on-year to EUR 14.84m and net profit was up 50.3% to EUR 2.98m.

While revenues of the operator of Ljubljana's Jože Pučnik airport exceeded the plans, expenditure stood at EUR 12.01m, which is 5.4% lower than last year and the plans.

This resulted in a EUR 2.81m operating profit (EBIT), which is 51.8% higher than in the first half of 2012 and EUR 1.4m higher than planned.

The higher revenues come from an increase in both passenger and cargo transport at the Ljubljana airport, both by flag carrier Adria Airways and by foreign airlines - the biggest being Wizz Air, Turkish Airlines and Finnair.

While Adria Airways carried out fewer flights, it used bigger planes and transported more passengers, the management of the airport operator pointed out in its report, adding that the increase in the number of passengers turned a two-year negative trend.

The total number of passengers flying through the airport at Brnik increased 7.1% year-on-year to 575,463 and the total cargo transported increased 9.3% to 8,910 tonnes.

Aerodrom Ljubljana tripled its investments year on year in the first half of 2013 to EUR 2.68m.

While its investments are in line with the 2013-2017 business plan, the construction of a new passenger terminal is facing delays, which is to be on the agenda for the airport operator's shareholders meeting in September.

Aerodrom Ljubljana has been put on the list of 15 companies slated by the government for privatisation. The state owns 50.67% in the airport operator, while state-owned KAD and SOD funds also hold respective stakes of 7.36% and 8.82%.

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