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Aerodrom Ljubljana’s performance during the first four months of the year better than forecast

The positive trends in Aerodrom Ljubljana’s performance in the first quarter of this year continued in April. It recorded a significant increase in traffic with foreign airlines, while the domestic airline also surpassed its passenger number forecast in April. Cargo tonnage was also up significantly on the same period last year.

This year the company has recorded a significant increase in traffic in the foreign airline segment, with passenger numbers during the first four months of the year up 10% on the same period last year. The number of aircraft movements was down slightly as the foreign airlines used larger and heavier aircraft on average, which is beneficial in terms of revenue, as a significant portion of the company’s revenues for services rendered are dependent on aircraft weight. A noteworthy development in connection with the increase in passenger numbers was the expansion of services offered by low-cost airlines, Wizz Air having served Ljubljana Airport since October 2012. The domestic airline also surpassed its forecast passenger numbers for April, taking its total passenger numbers significantly closer to the forecast for the period in question. A total of 323,308 passengers were carried during the first four months of the year, up 2.4% on the same period last year and up 1.5% on the forecast for the period. Cargo tonnage also recorded a significant increase, and was up almost 13% on the same period last year at 5,956 tonnes, 15% more than the forecast for the period.

The positive trends in traffic were also reflected in results over the first four months of the year, which were better than forecast and also better than in the same period last year. Operating revenues were up 2% on the first four months of last year at EUR 9.2 million, up just under 8% on the forecast. The measures to control operating expenses continued in parallel: at EUR 8 million, operating expenses during the first four months of the year were down 4.3% on the same period last year and were also down 1.9% on the forecast. EBIT was up just over EUR 0.5 million on the same period last year at EUR 1.2 million, EUR 0.8 million more than the forecast for the period.

Finance income and expenses also recorded good results. An increase in finance income and a decline in finance expenses resulted in net finance income of EUR 0.4 million, up on the same period last year and up on the forecast.

 

This was reflected in pre-tax profit (EUR 1.6 million) and net profit (EUR 1.3 million), which were up just over 60% (roughly EUR 0.6 million) on the same period last year, and up roughly EUR 1 million on the forecast. Both figures were equivalent to 27% of the forecast in the annual plan, a very high figure given the seasonal component to the company’s performance. Heavier summer traffic means that the company generates the majority of its revenue between June and September, while costs are distributed linearly throughout the year.

The positive trends in traffic continued in May. Passenger numbers were up 16% on the same month last year, as foreign airlines and the domestic airline recorded an increase in traffic. Passenger numbers during the first five months of the year were up almost 6% on the same period last year. Cargo tonnage also displayed a positive trend, and was up 11% on the same period last year. In light of these physical indicators Aerodrom Ljubljana is expecting good results for the first five months of the year.

Brnik, 7 June 2013