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
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%.