MAP Group's majority owned Sydney Airport posted a 5.6 per cent rise in unaudited profit in calendar 2009 and said it saw strong earnings growth in the final quarter.
Sydney Airport reported earnings before interest, tax, depreciation and amortisation (EBITDA), or what it termed unaudited consolidated profit, excluding net financing costs, income tax, and specific non-recurring expenses, of $690.2 million for the 12 months to December 31, up from $653.3 million in 2008.
Earnings before interest, tax, depreciation and amortisation including specific non-recurring expenses was $689.3 million, up 6.1 per cent from $649.4 million in the previous year.
Sydney Airport chief executive Russell Balding said passenger numbers in the three months to December 31 grew by 7.3 per cent on the previous corresponding period.
International traffic grew by 10.1 per cent on the previous corresponding period.
MAP chief executive Kerrie Mather said cost savings made earlier in the year proved beneficial during the beginning of a recovery in the final quarter of 2009.
''We're particularly pleased with the recovery in the final quarter, delivering 7.3 per cent growth in passengers and 11.8 per cent growth in EBITDA,'' she said in a statement.
Sydney Airport's revenue for the 12 months was $853.2 million, up five per cent on the $812.7 million in the previous year.
In dollar per passenger terms, Sydney Airport's revenue was $25.86 in 2009, up 4.6 per cent from $24.72 in 2008.
Retail revenue was $192.7 million, up 0.4 per cent on the previous year's $192 million, which included a one-off $5 million item.
Sydney Airport said its T1 development was continuing with 26 more stores and food outlets opened in the December quarter.
Aeronautical revenue grew by 8.2 per cent on the previous year, which included $2.1 million in one-off revenue from a commercial agreement.
Commercial trading revenue grew by 3.1 per cent over the previous year, while property revenue increased by 5.7 per cent.
Other income included $2.4 million in one-off income associated with gains on assets.
MAp also said on Friday it had reached financial close on the acquisition of an additional interest in Brussels Airport.
Its interest in Brussels increased from 36 per cent to 39 per cent.
The group also holds stakes in airports in Copenhagen, Bristol and Mexico.
AAP
