My Account Menu

CAPA Login


Register to trial CAPA Membership!

MAp reports “pleasing” results at Brussels Airport in 1Q2010

29-Apr-2010

MAp Group released the financial report for Brussels Airport for the three months ended 31-Mar-2010.

Revenue jumped 4.5% year-on-year to EUR78.3 million while operating costs were down 4.6% year-on-year to EUR40.4 million. The EBITDA result of EUR37.6 million rose 19.4% year-on-year, while capital expenditure decreased 36.2% year-on-year to EUR8.8 million. Property and Real Estate was the only revenue stream to decline in the period. Highlights included:

  • Aeronautical: EUR47.3 million, +4.8%;
  • Retail: EUR10.9 million, +7.9%;
  • Property and Real Estate: EUR9.6 million, -4.5%;
  • Car Parking and Car Rental: EUR5.7 million, +8.7%;
  • Commercial Trading and Other: EUR4.7 million, +10.1%.

MAp CEO, Kerrie Mather, stated the operational leverage displayed by the airport is “particularly pleasing”, with adjusted EBITDA increasing by 16.5%, on traffic growth of 2.6%. Ms Mather added the performance is “largely” due to “permanent improvements in efficiency” achieved over the past six months.

Shares in MAp fell 2.8% yesterday as the Australian stock exchange caught up with the PIGS-inspired sell-off on global equity markets. MAp fell a further 0.3% in trade on the ASX today.

Today’s edition of Airport Business Daily contains the full financial/traffic report for Brussels Airport, operated by MAp. Other reports in today’s edition include:

Share price movements: 28-Apr-2010


Want more analysis like this? CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find out more and take a free trial.