AIH: The Corporation’s Profits Reach US$ 105 Million During the First Semester
ANDINO Investment Holding reported today its second-quarter financial results, which demonstrate the holding’s great financial capacity after the partial sale of its assets. This marks a second very favorable period for the corporation.
- AIH's net profit amounted to US$ 105 million, after having sold several of its logistics assets in May.
-The corporation foresees remarkable and progressive growth because its new air cargo terminal will begin operations.
ANDINO Investment Holding, a Peruvian corporation with 46 years of experience in the market, dedicated to the investment in logistics services and infrastructure; published today its second-quarter financial results, which demonstrate the holding’s great financial capacity after the partial sale of its assets. This marks a second very favorable period for the corporation.
As it is recalled, in March 2018 AIH restructured its business strategy and sold part of its logistic assets for US$ 250 million. Part of the sale was destined to pay in advance 100% of the international bonds issued in 2013, which were due in 2020. Miguel Castillo Espinoza, the corporation’s CFO, indicated that, "By paying all of the bonds, we have significantly reduced AIH's financial exposure in the market, which reflects the holding’s strength and economic capacity, as well as the priority given to fulfilling its financial responsibilities”.
At the same time, AIH's good results reflect its current strategy to focus on increasing its participation in airport logistics and infrastructure and in the development of real estate projects for this commercial area.
Soon, Lima Hub, the group's flagship project, will begin operations and the corporation expects to significantly increase profits from services provided to air cargo, considering the potential growth of this industry.