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20 December 2016

Preliminary Results 2016: A Historical Record of Boryspil State International Airport

Boryspil Airport unveiled preliminary information about the dynamics of performance in 2013-2016 years. Stagnating and losing money in 2013-2014 Boryspil International Airport State Enterprise turned into a growing and highly profitable company within the 2015-2016 period.
In 2016 Boryspil has reached the maximum performance in its history. The expected net profit and the amount of deductions into the state budget have been three times higher than for the previous record-breaking year 2015. The expected volume of passenger traffic of 8.62 million passengers exceeds the previous record of 2012 when the airport handled 8.47 million passengers.

"Even when re-computing the income into dollar equivalent, the achievements are impressive. Thus, in 2011 the income reached USD 39 million. After that, the airport financial results worsened each year and amounted to a loss of USD 12 million dollars in 2014. However, as early as next year Boryspil became profitable thanks to the reforms of the team headed by Yevhenii Dykhne. Based on the results of 2016 Boryspil Airport expects income of more than USD 50 million in accordance with International Financial Reporting Standards (IFRS). As a result, Boryspil International Airport State Enterprise has become one of the largest taxpayers in the country ", commented Kyryl Zvonarov, Deputy Director General of Boryspil Airport.

To recap, the past week the professional financial community acknowledged the achievements of Boryspil Airport for the 2015 - 2016 period. The leading financiers of Ukraine, auditors and bankers selected Kyryl Zvonarov, the top manager of Boryspil International Airport State Enterprise the winner of «Top 10 CFO of Ukraine» Rating.



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