Profit decline at Nikola Tesla airport
In Q3, the airport generated business profit of RSD 2,5 billion, almost
identical as last year. Thus, in the first nine months, zero growth rate was
recorded i.e. business profit totaled as in the same period last year - 6,2 billion.
Investors are more worried with the growing trend of unpaid claims mainly
thanks to non-settlement of commitments by national airline Air Serbia than
stagnation. Although at the end of December 2014 and in late March 2015 collected
app. RSD 4 billion of claims that were written of this item has still been very
high. At the end of September, unpaid claims totals app. three billion dinars
and only in the last quarter they increased by RSD 869 m.
Despite stable profit, growth of unpaid claims was the main reason for the fact that in Q3 the Nikola Tesla airport generated a fall of profit before taxing of 42,4%, to RSD 499 m, while the final result, due to payment of temporary dividend to the state of RSD 500 m was negative and totaled RSD 109,2 m.
The shares of the airport as of the beginning of the year have increased in value of 25%, and at the last price of RSD 1.177 company market value totals RSD 40,4 billion (app. EUR 335 m).
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