Continuing its track record of positive financial performance, Athens International Airport (AIA) posted positive financial results for 2006, for the first time according to the principles of the International Financial Reporting Standards (IFRS).
With passenger traffic beating a new record of 15.1 million in 2006 (+5.6% on a year-to-year), and mainly boosted by the improved performance of all commercial activities, AIA posted a 7.8% increase in its operating revenues and Airport Development Fund (ADF) payments, reaching a total of € 357.5 million. Οperating expenses increased at a lower rate (+3.3%) than the corresponding revenue increase compared to 2005, reaching the level of € 124.8 million, and reflecting AIA’s commitment for operational cost efficiency. Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by 11.8% to € 166.5 million, while pre-tax profit (PBT) rose significantly to € 96.3 million (+66.9%), mainly boosted by the outstanding performance of AIA’s commercial activities, as well as the lower depreciation and the decreased financial expenses compared to 2005.
The Management of Athens International Airport S.A. commented: “After 6 years of business excellence and with passenger traffic crossing the 15 million threshold during 2006, Athens International Airport has established itself among the large and most successful airports in Europe. Being a major business engine for Greek tourism and economy, AIA maintains a steady development and profitability track record, relying on the commitment, efficiency, and know-how of its people.”
* 2005 figures have been adjusted for comparison purposes, according to the International Financial Reporting Standards.