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Belgrade Airport’s 2012 Net Income Falls 54% to $8.34 Million

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March 28 (Bloomberg) -- Aerodrom Nikola Tesla AD, Serbia’s main airport, said net income fell by half last year even as sales rose 5.7 percent on increased passenger traffic.

Net income dropped to 727.7 million dinars ($8.3 million) on sales of 5.9 billion dinars, the state-controlled company said in a regulatory filing to the Belgrade Stock Exchange. Costs jumped 13.5 percent to 4.22 billion dinars, while earnings before interest, tax, depreciation and amortization declined 1.3 percent to 2.9 billion dinars.

The operator of the Belgrade airport has struggled to collect payments from its biggest client, struggling state-owned flag carrier JAT Airways. JAT’s overdue bills led to a 521.6 million-dinar writedown in the results for the first half of 2012.

Passenger numbers rose 7.7 percent to 3.4 million last year, while flights were little changed at 44,990. The single-strip airport plans to increase passenger capacity by more than a third to 7.5 million by the end of 2015.

To contact the reporter on this story: Misha Savic in Belgrade at msavic2@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net