MAp earnings rise 19.5% as traffic climbs 7%

We’re sorry, this feature is currently unavailable. We’re working to restore it. Please try again later.

Advertisement

This was published 13 years ago

MAp earnings rise 19.5% as traffic climbs 7%

Sydney airport operator MAp Group says earnings for the year to date are up 19.5 per cent with traffic growth of seven per cent across the board.

MAp reported proportionate earnings of $323.4 million for the nine months to September 2010.

Total earnings before interest, tax, amortisation and depreciation increased 15.7 per cent to $597.5 million compared with the prior corresponding period.

The airport operator's EBITDA margin was 70.2 per cent, up from 69.3 per cent in the first half of the year.

"Sydney Airport delivered 14.2 per cent EBITDA growth for the first nine months of 2010 and underlying growth at Copenhagen and Brussels airports, adjusting for one off items such as the ash cloud-related closure, was 11 per cent and 5.6 per cent respectively," MAp chief executive Kerrie Mather said in a statement.

"Both Sydney and Copenhagen have set traffic records in recent months whilst growth accelerated in the third quarter at Brussels."

Sydney experienced year-to-date traffic growth of nine per cent with the strong Australian dollar contributing to outbound travel demand, MAp said.

The traffic performance also supported retail revenue with 11.7 per cent growth year to date.

Copenhagen traffic grew 8.2 per cent, while Brussels Airport's grew 2.9 per cent, affected by the Icelandic volcanic ash cloud closure and an air traffic control strike in September.

MAp said earnings per stapled security for the nine months were 17.4 cents, up 9.5 per cent on the prior corresponding period.

AAP

Most Viewed in Business

Loading