Gemina EBITDA stable in 1Q2012, downward trend in traffic

Italy's Gemina, parent of Aeroporti di Roma, revenue up 1% - financial highlights for three months ended 31-Mar-2012:

• Revenue: EUR130.2 million, +0.9% year-on-year;
  • Aviation: EUR66.1 million, +0.2%;
  • Non-aviation: EUR64.1 million, +1.7%;
• EBITDA: EUR50.4 million, stable;
• Net profit (loss): (EUR11.7 million), compared to a loss of EUR12.5 million in p-c-p;
• Passenger numbers: 8.5 million, -1.4%;
  • Rome Fiumicino Airport: 7.4 million, -1.2%;
  • Rome Ciampino Airport: 1.1 million, -2.6%;
• Cargo volume: 34,224 tonnes, -9.3%;
  • Rome Fiumicino: 29,928, -9.7%;
  • Rome Ciampino: 4296, -6.4%;
• Aircraft movements: 81,228, -6.4%;
  • Rome Fiumicino: 68,538, -8.0%;
  • Rome Ciampino: 12,690, +3.0%;
• Net assets: EUR2805 million, -1.5% when compared to period ended 31-Dec-2011. [more - original PR]

Gemina: "Given the downward trend of traffic and no positive short-term forecasts, it becomes increasingly necessary to focus on improving the management of the existing structure, the successful conclusion of the spin-off initiatives, as well as the conclusion of the refinancing of the debt maturing in February 2013, by June 2012. The above while waiting for the ever more urgent and mandatory conclusion of the new Convention/Planning Agreement with the consequent start of the ADR infrastructure recovery plan." Source: Company statement, 11-May-2012.