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GMR Infra looks international for airport business growth. 1Q losses on Delhi and Istanbul

9-Sep-2011

As part of efforts to become a global player in the airport sector, India’s GMR Infrastructure is seeking to expand its international footprint beyond its Istanbul Sabiha Gokcen and Male presence. GMR, which also operates Delhi and Hyderabad airports, two of India's largest airports, is looking at projects in countries ranging from Spain and Croatia in Europe to Puerto Rico and North America in the Americas, in addition to airports in Southeast Asia and Africa. The company’s airport segment, meanwhile, reported a loss in the three months to Jun-2011, although its Male and Hyderabad airports were profitable. All GMR’s airports were profitable at the EBITDA level in the quarter, with robust traffic growth across the board. [3244 words]

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Subheadings:

  • Looking at airports in Puerto Rico, Spain, Croatia, Southeast Asia, South America, North America and Africa
  • GMR losses impacted by Delhi Airport Terminal 3, higher interest costs and increase in deprecation costs
  • Revenue growth on induction revenue at Male Airport and Delhi Airport JVs
  • PAT loss but positive EBITDA results
  • GMR Airports witness 107% revenue growth. EBITDA margin of 29.3% but loss of USD36 mill
  • Consolidation equity base reinforced with private equity investment in Airports Holding Company
  • Double-digit traffic growth across the board
  • Delhi Airport posts largest losses of USD42mill
  • Losses for Istanbul Sabiha Gokcen
  • Male – the most profitable airport in the GMR airport group
  • Hyderabad also profitable. EBITDA margin of 67%
  • Full year profits depend on Delhi

Graphs and data:

  • GMR Infrastructure airport assets portfolio: 1QFY2012
  • GMR Infrastructure airport segment financial results: 1QFY2012
  • Traffic growth (%) comparison for Hyderabad Rajiv Gandhi International Airport, Mumbai Airport, Delhi Indira Gandhi International Airport from Sep-09 to Sep-11
  • Delhi Indira Gandhi International Airport Passenger Numbers (2009 to 2011)
  • Delhi Indira Gandhi International Airport Aircraft Movements (2009 to 2011)
  • GMR Infrastructure Limited 1QFY2012 (three months ended 30-Jun-2011) financial performance highlights (Rs Cr)
  • GMR Infrastructure Airport segment 1QFY2012 (three months ended 30-Jun-2011) financial performance highlights (Rs Cr)
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