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Guangzhou Baiyun Airport reports 20% revenue jump; TAV Airports' revenue increases 23%

27-Oct-2010

China Guangzhou Baiyun Airport (-1.3%) shares lost ground on Tuesday (26-Oct-2010). On the same day the airport reported a revenue jump of 20%.

The following financial highlights are for the three months ended 30-Sep-2010 (according to Chinese Accounting Standards):

  • Revenue*: USD144.5 million, +20.4% year-on-year;
  • Operating costs: USD86.7 million, +23.5%;
  • Operating profit: USD38.7 million, +38.2%;
  • Net profit: USD27.3 million, +46.0%;
  • Total assets: USD1,573 million, -6.7%;
  • Total liabilities: USD589.7 million, -18.2%.

China’s Shenzhen Airport (+0.8%) revenue up 9.8% - financial highlights for the three months ended 30-Sep-2010 (according to Chinese Accounting Standards):

  • Revenue: USD71.1 million, +9.8% year-on-year;
  • Operating costs: USD40.4 million, +31.3%;
  • Operating profit: USD33.1 million, +29.3%;
  • Net profit: USD25.8 million, +2.2%;
  • Total assets: USD949.9 million, -1.4%;
  • Total liabilities: USD96.2 million, -40.3%.

*Based on the conversion rate at USD1 = CNY6.6628

Meanwhile, the Shanghai Composite Index dropped 9.88, or 0.3%, to 3,041.54. The CSI 300 Index fell 0.4% to 3,466.08.

See related CAPA profile: Financial results

Turkey’s TAV Airports (-3.1%) shares also lost ground on Tuesday. TAV reported a revenue jump of 23% for the nine months ended 30-Sep-2010:

  • Revenue*: EUR593.8 million, +23% year-on-year;
    • Aeronautical: EUR155.1 million, +28%;
    • Sales of duty free: EUR120.0 million, +13%;
    • Ground handling: EUR121.4 million, +35%;
    • Commission from duty free sales: EUR56.9 million, +10%;
    • Catering: EUR34.5 million, +24%;
    • Other: EUR105.8 million, +22%;
  • EBITDA*: EUR172.5 million, +28%;
  • Net profit: EUR39.4 million, +12%;

*Adjusted by including guaranteed passenger fee revenues from airports in Ankara and Izmir

Selected airports daily share price movements (% change): 26-Oct-2010


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