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AVIORADAR - Croatian aviation website

Zagreb airport has published annual financial report for 2019

Written by Zagreb international airport (MZLZ).

© Boran Pivčić (ZAG/06.2020)
MZLZ

"Zagreb International Airport d.d. (MZLZ) has published its annual report for 2019. Management reports have been published and the consolidated and separate financial statements for MZLZ d.d. as the Company and the Group, which in addition to MZLZ consists of its subsidiaries (MZLZ - Zaštita d.o.o., MZLZ - Zemaljske usluge d.o.o., MZLZ - Hrana d.o.o.). 

In 2019, the Company generated an operating profit (operating profit excluding depreciation costs) in the amount of HRK 260,175,000, which is an increase of 12% compared to the previous period (2018: HRK 232,592,000), and the Group HRK 277,325,000, an increase of 11% compared to the previous period (2018: HRK 251,155,000).

Operating profit (including depreciation expense) also grew compared to the previous period (Company: 25%; Group: 18%).

The Company and the Group achieved a growth of 7% of all revenues reflecting activities at the airport.

During January and February 2020, the Company (Group) recorded higher-than-expected turnover growth, ie + 6% in January compared to the previous year and + 2% in February. In early March 2020, the airport was named the best European airport in the category of 2 to 5 million passengers for 2019. This is the second time in a row that the airport has recorded the highest ratings for service quality, according to a passenger survey.

However, in March, due to the impact of COVID - 19 (Coronavirus) and the global pandemic, there was an extremely strong decline in traffic, which of course was not possible to predict or expect. At the beginning of March, many direct lines were canceled, borders with some countries were closed, measures on mandatory self-isolation for passengers coming from abroad were adopted, so the drop in passengers of -30%, which was recorded in the first half of March compared to the same period last year. Thus, a realistic reflection of such measures." - says MZLZ in their press release.

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