Athens International Airport EBITDA down 11% in 2011

Greece's Athens International Airport revenue down 7% - financial highlights for 12 months ended 31-Dec-2011:

• Operating revenue: EUR332.8 million, -6.7% year-on-year;
• EBITDA: EUR202.5 million, -11.4%;
• Profit after tax: EUR104.0 million, +7.7%;
• Total assets: EUR1396 million, -3.1%;
• Cash and cash equivalents: EUR267.0 million, +21.1%;
• Total liabilities: EUR930.2 million, -7.3%;
• Passenger numbers: 14.5 million, -6.3%;
• Aircraft movements: 173,300, -9.6%;
• 2012 forecast:
  • Operating revenue: EUR316 million;
  • Passenger numbers: 14.1 million. [more - original PR]

Athens International Airport: "The upcoming year is expected to be a particularly critical and challenging one, with the development of the Greek macroeconomic crisis being the overwhelming issue. In 2012, GDP is expected to be negative for a fourth year in a row. The successful fulfilment of major objectives for the restructuring of the Greek economy will be necessary to reduce short and mid-term risks and to improve the economy's outlook. Within this adverse environment, we expect that in 2012 AIA will face a further reduction in traffic demand. The rapid recovery of the European and global air travel is not expected to counterbalance the impact from reduced demand by Greek travellers, from the tarnished image of the country for incoming tourism, or from the sharp decline in business related travel." Source: Company statement, 28-Feb-2012.