Analyzing the structural costs, the item “depreciation and write-downs” stands at 2.9 million euros and a +14.5% on 2023 due to the growth in investments made.
Provisions, however, decreased: -20.1%, going from 1.1 million to 0.9 million euros due to the lower provisions to the provision for bad debts following the assessment of the substantial adequacy of the provision allocated at 31 December 2023.
The Operating Profit (EBIT) grew by 136.6% and stood at 5.3 million euros against a result of 2.2 million in 2023.
The pre-tax result for the period stood at 5.1 million euros compared to 1.6 million in the first quarter of 2023.
The net result for the quarter, entirely attributable to the Group, shows a profit of 3.5 million euros compared to 1.2 million in the first quarter of 2023, with a growth of 203.1%.
Asset data and investments
The Group’s Net Financial Position as of 31 March 2024 is equal to 3.7 million euros compared to 8.4 million as of 31 December 2023.
The total amount of investments made by the Group as of 31 March 2024, net of work advances paid, is equal to 5.8 million euros. In particular, 3.2 million relate to investments of an infrastructural nature and 2.6 million to investments intended for airport operations. Investments aimed at environmental sustainability also continue.
Consolidated and Group Shareholders’ Equity is equal to 205.8 million euros compared to 197.6 million at 31 December 2023 and increases as a result of the overall economic result of the period pending the accounting recognition of the destination approved by the Group Shareholders’ Meetings of 23 April 2024.
Significant events that occurred after the end of the period
After the end of the quarter, no events occurred that would justify changes to the economic, equity and financial situation presented and therefore require adjustments and/or additional notes to the financial statement document with reference to the values exposed as at 31 March 2024.
In April, Bologna Airport almost reached one million passengers: there were in fact 980,834, an increase of 12.4% on April 2023. In the first four months of 2024, total passengers were 2,928,854, an increase of 9.5%. over the same period of 2023, while the movements were 21,913, up 7.6% over 2023.
Finally, in April Bologna Airport joined the Pact for the Decarbonisation of Air Transport whose objective is to encourage and accelerate the achievement of the sustainability objectives of air transport in the context of the SDGs and the 2030 Agenda and taking as reference the objective of Net Zero Emissions by 2050.
Predictable evolution of management
The latest traffic estimates developed by Eurocontrol for the period 2024-2030 revise the global growth of air movements downwards, highlighting a heterogeneous trend between Eastern European and Western regions following a slowdown in growth in some areas in the months of November and December 2023, mainly following a reduction in flight scheduling for WS23-24 and a rescheduling of flights due to atmospheric events.
This leads to reaching pre-pandemic movements estimated between 2025 and 2026, a period beyond which a growth rate of approximately 2% per year is expected. The trend is therefore still strongly impacted by the tensions deriving from Russia’s invasion of Ukraine, in addition to the recent conflict in the Middle East and a general cooling of the world economy. However, there has been a significant recovery of movements on Asian routes, a significant recovery in the recorded load factor and a decrease in supply-chain bottlenecks in the management of the most congested airports (Source: EUROCONTROL Seven-Year Forecast 2024-2030 – Spring 2024 Update, February 2024).
In the complex context described above, the Group will continue to be committed to overcoming the limits of the infrastructural capacity of some subsystems, with various interventions that will focus on the airport, with a view to improving the quality of the service and the travel experience of passengers, once the critical issues related to maintaining the full functioning of the infrastructure and operational processes in the presence of construction sites have been overcome.
Also in the field of non-aviation services, work has started on the new multi-storey car park for a total of further 2,200 parking spaces available to passengers.
At the same time, the important commitments in the field of innovation and sustainability continue with concrete actions by the Group to mitigate the environmental impacts linked to airport activity, protect natural resources, improve the quality of life and well-being of the surrounding community, offer places of safe and inclusive work.
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The Interim Management Report as at 31 March 2024 has been made available to the public on the company’s website at www.bologna-airport.it in the Investor Relations section, as well as on the authorized storage mechanism 1info (www.1info.it) .
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Attached are the consolidated statements of the Balance Sheet, the Income Statement, the Net Financial Position and the Summary of the Cash Flow Statement.
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The manager in charge of preparing the company’s accounting documents, Patrizia Muffato, declares pursuant to paragraph 2 of article 154 bis of the Consolidated Law on Finance that the accounting information contained in this press release corresponds to the documentary findings, books and accounting records.
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Guglielmo Marconi Airport in Bolognaclassified as a “strategic airport” of the Central-North area in the National Airports Plan prepared by the Ministry of Infrastructure and Transport, recorded around 10 million passengers in 2023, ranking as the seventh Italian airport by number of passengers (Source : Assaeroporti, Aeroporti2030). Located in the heart of the Emilian food valley and the automotive and packaging industrial districts, the Airport has a catchment area of around 11 million inhabitants and around 47,000 companies with a strong propensity for exports and internationalization and with policies of commercial expansion towards Eastern Europe and Asia.
As regards the airport infrastructure, the Airport has among its strategic objectives for the coming years an important development plan relating above all to the expansion of the passenger terminal, in particular in the area of security checks and boarding gates. The company’s objective is to make Bologna Airport one of the most modern and functional terminals in Italy, an important gateway to the city and the territory.
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For more information: www.bologna-airport.it
