The Prague Airport Group Achieved a Gross Operating Profit of CZK 4.9 Billion in 2018
In 2018, the key companies of the Prague Airport Group reported their operating profit (EBITDA **) of CZK 4,922 million, approximately reaching the 2017 operating profit level reported by the predecessor of the Prague Airport Group, the Czech Aeroholding Group. The Group's economic performance was positively affected by its greater revenues from both aviation and non-aviation trade, such as premises rental and parking services. The Prague Airport Group consists of its key companies Letiště Praha, a. s., Czech Airlines Handling, a.s., and Czech Airlines Technics, a.s.
“As in previous years, the past year's growth of the whole Group's operating profit was primarily driven by Prague Airport's performance. The airport's economic result was not only derived from the greater number of air connections and passengers, thus greater revenues from the aviation trade, but also the strengthening of the airport’s non-aviation activities. The year-on-year non-aviation trade revenues grew by almost 10%, while the year-on-year aviation trade revenues grew by more than 5%,” said Václav Řehoř, Chairman of the Board of Directors of Prague Airport about the economic results.
The total operating revenues of Prague Airport reached CZK 8,441 million in 2018. The gross operating profit (EBITDA) reached CZK 4,721 million and exceeded the 2018 plan by 6%. “In the cargo area, Prague Airport saved 4%, compared to its plan, due to its efficient management of operating costs. Thanks to this, the company was able, among others, to increase its employee wages, pay their additional thirteenth salary, continue in its scheduled airport infrastructure repairs, expand the airport's capacity, and continue investing in security and modern technologies,” adds Václav Řehoř supplementing Prague Airport's 2018 economic results.
**EBITDA – Earnings Before Interest, Taxes, Depreciation, and Amortisation
More information available in the Prague Airport's Press Release here.