Airport, Estonia, Good for Business, Transport

The company's operating income climbed 3% to 43.6 million euros and net profit was also bigger by 6%, totaling 5.2 million euros.

Aviation revenue accounted for 38.9% and non-aviation revenue for 61.1% of total revenue. Expenses of the group totaled 38.2 million euros, being bigger by 1.1 million euros or 3.1%. The growth mostly originated in higher labor costs, which grew by 8% or 1.1 million euros. The group employed 590 people.

The number of passengers, 2.2 million, was bigger by 7% than in 2014. The number of passengers of regional airports moved up 15% to 48,098.

The airport company is planning to invest altogether 127.4 million euros in 2016-2022, of which 40.8 million euros is to be invested in 2016. The biggest projects for the coming few years are developing the airside of Tallinn Airport in collaboration with the Cohesion Fund, construction of a parking building for 1,200 cars and expanding the passenger terminal to boost the capacity of the security area.

Total asses of the company stood at 142.6 million euros at the end of the period, compared with 145.3 million euros at the end of 2014. Asset volume decreased by 2.7 million euros or 1.9%. The company's long-term liabilities declined by 8.6 million euros or 11.2%. Owner's equity increased by 5.9 million euros or 9.9%.

The company expects passenger numbers this year to grow 1% to 2.18 million and the number of flight operations and cargo volumes to remain on the level of 2015. Sales are forecast to move up 2% to 34.6 million euros and net profit to contract 17% to 4.3 million euros. Investments are projected to soar from 2.6 million euros in 2015 to 40.8 million euros this year.

Tallinn Airport operates the airports of Tallinn, Kardla, Kuressaare, Tartu and Parnu, as well as the airfields of the islands of Ruhnu and Kihnu.