Gemina Q1 net loss narrows on higher tariffs, non-EU traffic
MILAN May 13 (Reuters) - Italy's Gemina, the company that owns Rome airport operator ADR, said on Monday its first-quarter net loss narrowed to 5.9 million euros ($7.65 million) from 11.7 million euros, helped by higher tariffs and a larger portion of passengers from outside the Europe Union.
Revenues rose 2.4 percent to 124.2 million euros in the same period, as growing extra-EU traffic more than offset a 12.9 percent drop in Italian traffic, while investments rose to 14 million euros from 9 million euros, it said in a statement.
Gemina, which is set to merge with motorway group Atlanta , forecast EBITDA to rise to 350 million euros in 2013 from 266 million euros in 2012 mainly thanks to higher tariffs. ($1 = 0.7709 euros) (Reporting By Danilo Masoni, editing by Stephen Jewkes)
- U.S. Mega Millions lottery up to $400 million, 2nd-biggest ever
- Pope Francis named Time's Person of the Year |
- Uruguay becomes first country to legalize marijuana trade
- Thousands of South Africans line up to see Mandela lie in state |
- China bitcoin arbitrage ends as traders work around capital controls