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AAHK EBITDA up 19% on strong traffic, retail/advertising growth; traffic growth to continue in 2013

19-Nov-2013 1:39 PM

Hong Kong’s Airport Authority Hong Kong revenue up 15% – financial highlights for six months ended 30-Sep-2013:

  • Revenue: HKD7337 million (USD945.7 million), +14.7% year-on-year;
    • Retail licenses and advertising: HKD3066 million (USD395.2 million), +30.2%;
  • EBITDA: HKD2365 million (USD304.8 million), +18.8%;
  • Profit before tax: HKD3833 million (USD494.0 million), +15.9%;
  • Net profit: HKD3215 million (USD414.4 million), +17.0%;
  • Passenger numbers: 30.5 million, +6.3%;
  • Cargo volume: 2.0 million tonnes, +1.8%;
  • Aircraft movements: 187,000, +6.4%. [more - original PR]

*Based on the average conversion rate at USD1 = HKD7.7586

Airport Authority Hong Kong: “We are pleased with the strong financial performance for the first six months, which was primarily the result of traffic growth as well as retail and advertising revenue growth arising from the awarding of a few major retail licences in late 2012. We forecast the momentum of traffic growth will continue in the remainder of the financial year, and we are therefore cautiously optimistic of our 2013/2014 full-year financial performance,” William Lo Chi-chung, Executive Director Finance. Source: Company statement, 18-Nov-2013.