SWISSPORT 3Q17 - OPERATIONALLY SOLID BUT QUESTIONABLE CASH MANAGEMENT
Swissport, the leading aviation services provider, held a conference call today to discuss a solid set of 3Q17 results. Revenues were up 7.8% year-on-year at constant currency to €730m, accelerating from the 4.7% growth posted in Q2. Swissport followed main peer WFS in cargo performance and as expected reported strong volumes growth, amounting to 11%, slightly above the market’s 10.5% growth. Ground handling volumes on the other hand remained fairly stable as the company continues to streamline that division. More positively, adjusted EBITDA continued the improving trend begun last quarter with a 18.6% increase at constant currency to €86.7m.
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