At the half-year mark we recorded 612,779 or more than a fifth fewer passengers than..."/>

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One fifth fewer passengers in first six months, slightly better in summer

At the half-year mark we recorded 612,779 or more than a fifth fewer passengers than in the same period of last year. During this period the company generated 2.9 million euros in profits, which is over 42 percent less than in the same period last year, when profits amounted to 5.1 million euros.

The number of aircraft movements in the first half of this year fell by just under 10 percent compared to the same period last year, while cargo handling fell by more than a quarter or 6467 tons. Alongside the tough economic conditions, the lag behind the first half of last year can be ascribed to the fact that last year Slovenia held the EU Presidency, for which reason the physical volume of traffic during that period was significantly increased.

The drop in traffic in Slovenia was slightly greater than the average for European airports. According to data from the European arm of the association of airport operators (ACI Europe) in the first six months of this year the number of passengers at European airports was down 9.6 percent on the same period last year, while cargo traffic showed a year-on-year decline of 23.7 percent. ACI Europe anticipates that the situation will improve somewhat in the second half, but it still expects a decline of around 8 percent for the year in the number of passengers and 16 percent less cargo traffic. Our data on traffic for July and August do indeed point to a slightly better second half. In July we serviced 9.1 percent fewer passengers than in the same month last year, while cargo traffic was down 29 percent. And so far the figures for August have been even better. While cargo traffic is still lagging 26 percent behind the comparable period of last year, the number of passengers is just a little over 4 percent down on last year. In total, according to the latest data we are lagging behind the comparable performance of last year by 16.7 percent in terms of passenger numbers, while cargo traffic is down by one third.

The drop in the number of passengers is also reflected in the reduction in operating income, which has totalled 15.4 million euros, a fall of 18 percent compared to the same period last year. Operating expenditure amounts to 12.7 million euros, which is 4.6 percent less than in the same period last year.

Owing to the seasonal effect of greater activity, Aerodrom Ljubljana saw a slight improvement in profit margins in the second quarter. In the first six months, operating profits reached 2.75 million euros, which is 52 percent less than in the same period last year. Net profits for the first half-year amount to 2.95 million euros, a drop of 43 percent relative to the first six months of last year. In the second quarter alone, Aerodrom Ljubljana recorded 2.27 million euros of net profit, which is 38 percent less than in the same period last year.

Owing to the investments carried out by the company in May and June, as at 30 June short-term operating liabilities were 123 percent higher than at the end of last year, and amounted to 8.8 million euros. Major investments included execution of the first phase of reconstruction of the runway, which cost the company 2.9 million euros, and expansion of the main apron, for which 2.5 million euros had been allocated up to the end of the summer.

Brnik, 27 August 2009