Airport, Lithuania, Transport

International Internet Magazine. Baltic States news & analytics Thursday, 28.03.2024, 15:11

Avia Solutions Group boosts H1 revenue, but profit declined

BC, Vilnius, 22.08.2017.Print version
Lithuania-based, Warsaw-listed aviation business group Avia Solutions Group (ASG) said that its first-half consolidated revenue jumped by 24.6% to 168.797 million euros, from 135.524 million euros a year earlier, informs LETA/BNS.

The group's consolidated profits, however, declined by a factor of five to 768,000 euros, ASG said in its first-half performance report.

 

Revenue from aircraft ground handling and fueling services soared by 45.5% to 80.661 million euros. Revenue from aircraft maintenance and repair operations rose by 5.1% to 76.391 million euros, and revenue from pilot and crew training surged by 46.4% to 8.702 million euros. Revenue from jet charter and tour operations almost trebled to 9.349 million euros.

 

The group's first-half EBITDA slumped down by 29% year-on-year to 5.81 million euros and the EBITDA margin fell by 2.57 percentage points to 3.44%.

 

ZIA Valda Cyprus holds a 29.44% stake in ASG. Other shareholders include the Vilnius-based investment firm Indeco: Investment and Development with 10.71%, VGE Investments with 9.39%, Mesotania Holdings with 8.99%, Harberin Enterprises with 7.57% and Nationale Nederlanden's pension fund with 5.39%.






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