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Vienna and Malaysian airports report good earnings results

26-Aug-2005

SYDNEY (Centre for Asia Pacific Aviation) - Vienna International Airport reports passenger traffic growth of 7.3% year-on-year in the first half of 2005, exceeding the European average of 5.5%.

The growth helped operator, Flughafen Wien Group, to record a 5.7% increase in net profit to EUR39.2 million in the period. Depreciation and amortisation charges increased 10.8% to EUR26.6 million, following a twofold rise in capital expenditure to EUR121.4 million – with major investment in new cargo, general aviation and ATM infrastructure. As a result, income before interest and taxes (EBIT) declined 6.3% to EUR51.0 million.

According to Flughafen Wien, the positive development of traffic continued into July 2005, but a financial outlook for the remainder of the year was not disclosed.

Meanwhile, Malaysia Airports Holdings Berhad (MAHB), operator of Kuala Lumpur International Airport, reported a 352.8% surge in net profit to MYR41 million for the three months ended 30-Jun-05, due to higher profitability from its airport services operations. Total passenger numbers at all its airports rose 6.5% to 20 million in the first half of the year, during which period net profit rose 3.2 times to MYR90.4 million.

MAHB forecasts its airport services business segment to continue to contribute “significantly” to consolidated revenue for the remainder of the year, and “positive” passenger traffic growth. The company is also in discussions with the Malaysian Government on the proposed corporate and financial restructuring of the group in order to “address several financial issues”. MAHB stated its fiscal year to December 2005 is expected to be impacted by the outcome of its proposed corporate and financial restructuring plan, but further details were not disclosed.

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