Promising semiannual business results
The Supervisory Board of Aerodrom Ljubljana d.d., discussed the semiannual business report for 2004. In the first six months of 2004, the volume of traffic and operating revenues have increased.
Traffic in the January to June 2004 period was up from the same
period last year. In the first six months of 2004, aircraft
movements were up 6.4%, passengers carried were up 10.2% and air
cargo warehouse volume handled was up 2.9%, all from the same
period last year. Positive impact on the volume of traffic was
noted, because of the large rise in charter traffic and because of
the new flights of carriers Austrian Airlines, Malev and easyJet
that were established in April and May.
The higher number of aircraft movements, the higher passenger numbers and the rise in cargo traffic were followed by operating revenues in the amount of 2,493 million tolars. This is up 11.5% from the comparable period in the previous year and equivalent to 48% of the figure in the annual plan. Of this amount, 84% was generated by the sale of services on the domestic market (9.8% higher than in the same period last year), 14% by sales on foreign markets (31.5% higher than in the same period last year) while 2% were other revenues.
Operating expenses amounted to 1,950 million tolars and were 5.3% higher than last year (50% of the annual plan). The net profit from operations was 41.2% higher than in the same period last year (42% of the annual plan). After including financial revenues and extraordinary revenues, and the financial expenses, extraordinary expenses and estimated corporate income tax, the net profit amounts to 732 million tolars, up 6.3% from the same period last year and 43% of the annual plan.
In the first half of 2004, the company invested 463.2 million tolars of its own investment funds, mostly in completing and finally settling investment projects carried out in 2003 (among them the general aviation hangar and apron) and in the new construction of the BIP area (for national inspection services that inspect consignments of plant and animal origin at the Schengen border crossing); the preliminary design for the new passenger terminal was completed and the extension to the garage building for the needs of the central warehouse and certain maintenance is under construction. June also saw a start on the construction of the multi-storey car park with commercial extension, which should be completed at the beginning of next year.
Among the most important projects in the first six months of
2004, recapitalization of Aerodrom Portorož d.o.o in the amount of
300 million tolars to a participating interest of 30.46% should be