Profit decline at Nikola Tesla airport

Source: Gde investirati Monday, 16.11.2015. 15:34
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Belgrade’s Nikola Tesla airport released business results for Q3 which brought continued profitability decline trend from Q2. Still, in January- September period, the Airport generated high net profit of RSD 1,2 billion (growth of almost 65%), due to already familiar payment of written off claims in the first quarter.


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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