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Aerodrom Ljubljana with growth in traffic in 2014

Aerodrom Ljubljana's performance in 2014 was good. The growth in traffic was recorded. Total passenger numbers were up 1.3%, significant growth was also recorded in cargo tonnage, which was up 6.8% on figures for 2013. EBIT amounted to EUR 6,695 thousand, up 12.5% on the annual plan and up 9.2% on the figure realised in 2013. The net financial result in the reporting period was less favourable. As a result of the sale of financial assets under asset management contracts, finance income was up on 2013, while an impairment of the investment in Adria Airways Tehnika d.d. in the amount of EUR 2,736 thousand (this impairment was not forecast) meant that finance expenses were also up (at EUR 3,241 thousand).


In comparison with 2013 Aerodrom Ljubljana recorded positive trends in total passanger numbers and cargo tonnage. Total passenger numbers (1,338,619 passengers) were up 1.3% on figures for 2013, primarily due to a rise in the number of passengers using public transport (3.1%). A growth in the number of passengers using public transport was recorded by both domestic as well as foreign carriers. The total number of aircraft movements (31,405 aircraft movements) was 5.2% lower than in 2013. Significant growth was recorded in cargo tonnage, which was up 6.8% on figures for 2013 (at 18,983 tonnes).


Eight airlines provided scheduled flights from our airport in 2014 (nine in 2013), linking us up with 25 scheduled services (24 in 2013). The growth in passenger numbers in 2014 was mainly a result of the increased number of passengers using the domestic carrier, which expanded to two new destinations in 2014 (Prague and Warsaw). In addition to the domestic carrier, there was a significant rise in the number of Air Serbia and Turkish Airlines passengers at Ljubljana Airport. For both carriers, the number of flights from our airport rose appreciably in 2014. Passenger numbers were down 2.8% on those forecasts in the annual plan. This gap was largely due to the cessation of Iran Air flights (for refuelling) in the period between June and November, and the fact that, in the plan for 2014, we had already provided for an additional daily Air Serbia flight in the 2014 summer flight timetable, but this actually only took effect in December. In addition to this, the political situation in the Middle East during the summer months significantly reduced the number of Israeli passenger arrivals and flights made by Israeli carriers.


The company’s performance in 2014 was good. Operating revenues were up 2.5% (EUR 783 thousand) on the figure realised in 2013 at EUR 32,049 thousand, down 1% (EUR 335 thousand) on the annual plan. Operating expenses were up 0.9% (EUR 220 thousand) on the figure realised in 2013 at EUR 25,353 thousand, but were nevertheless down 4.1% (EUR 1,079 thousand) on the annual plan. EBIT amounted to EUR 6,695 thousand, up 12.5% (EUR 744 thousand) on the annual plan and up 9.2% (EUR 563 thousand) on the figure realised in 2013.


The net financial result in the reporting period was less favourable. As a result of the sale of financial assets under asset management contracts, finance income was up on 2013 (at EUR 1,525 thousand, up 20.5% on the figure realised in 2013 and also up 3.3% on the annual plan), while an impairment of the investment in Adria Airways Tehnika d.d. in the amount of EUR 2,736 thousand (this impairment was not forecast) meant that finance expenses were also up (at EUR 3,241 thousand).


Despite the good performance and the increase in finance income, the company failed to fully compensate for the negative impact of the impairment on its operating result: pre-tax profit in the reporting period amounted to EUR 4,979 thousand, while net profit amounted to EUR 3,594 thousand, down on the figure realised in 2013 and down on the annual plan.


Without the impairment of the investment in Adria Airways Tehnika d.d. the pre-tax profit would have amounted to EUR 7,715 thousand (up 27.2% on 2013 and up 9.3% on the annual plan), and the net profit to EUR 6,097 thousand (up 17.4% on 2013 and 1.2% on the annual plan).
  

More: Information on operational performance for 2014 

Zg. Brnik, 19 January 2015