WFS 1Q16 Results: Fasten your seatbelts
​Worldwide Flight Services ‘WFS’, the largest independent cargo handling services company held a call on Friday to comment on 1Q16 and FY15 results released few days earlier and provided an extensive update on the CAS acquisition. Pumping up EBITDA as usual From a top line standpoint, the company continues its comfortable cruise. Pro-forma revenues in 1Q16 were €261.4m and grew organically by +8.2% YoY. The cargo division (60% of revenues) posted a slight +0.5% growth which turns to be solid when compared to the -2.1% decrease of the market in FTK terms (Freight Tonne Kilometer). On the other hand, opening of new operations in Spain and Italy drove ground handling (35% of revenues) figures up by +24%.
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