Aerodrom Ljubljana ends first half with more passengers and higher revenues

The Aerodrom Ljubljana supervisory board met today at the companys offices to discuss Aerodrom Ljubljana d.d.s half-yearly business report. In the first six months of 2005 the company has recorded increases in both traffic and revenue.

Aircraft movements were up by 16% and the number of passengers handled was up by 19% from the same period in 2004. As expected, the air cargo warehouse handled 12% less cargo. As regards the structure of traffic, there was an increase in the number of passengers carried by foreign carriers, whose share has grown from 13% in the first six months of 2004 to 29% in the same period this year.

The companys operating revenues have kept pace with the growth in traffic. Operating revenues in the first half of the year amounted to SIT 2,795 million. This is up 12% from the comparable period last year and is equivalent to 46% of the figure in the annual plan. Operating expenses were 9% higher than last year and SIT 675 million lower than revenues. Aerodrom Ljubljana has recorded significant growth in earnings before interest and taxes compared to the same period last year: these are up by as much as 24%. Income from investments are down 28% compared to last year. The reason for this is a reduction in the extent of financial investments as a consequence of major investment projects, the largest of which was the completion of the multi-storey car park with commercial extension.

After taking into account income from investments, extraordinary revenues, financial expenses and extraordinary expenses, pre-tax income was SIT 937 million, which is equivalent to last years level and represents 41% of the annual plan.

If the figures represent less than 50% of the annual plan, this is due to the seasonal nature of a significant part of the companys activities. Traffic volume at the airport is lowest in January, February and March and highest in July, August and September. In the summer months there is a greater number of chater flights and flights on scheduled routes, and the aircraft are also carrying more passangers.

Of the important events to have occurred since the conclusion of the accounting period, the most important is the adoption of two physical planning documents: the location plan for the re-routing of the main road, and the planning regulatory conditions for the area around the airport. These two documents provide conditions for the further development of airport and off-airport programmes and are the foundation for the future development of the airport. 

Brnik, 25 August 2005