Auckland Airport revenue down 0.6%, operting EBITDA stable in 1HFY2010

New Zealand's Auckland Airport revenue down 0.6% - financial highlights for the six months ended 31-Dec-2010:

• Revenue: USD127.0 million, -0.6% year-on-year;
  • Airfield: USD22.8 million, -10.0%;
  • Passenger service charge: USD25.3 million, +11.9%;
  • Terminal service charge: USD9.7 million, -2.4%;
  • Retail: USD33.7 million, -3.2%;
  • Rental: USD17.0 million, +1.1%;
  • Car park: USD11.1 million, +5.2%;
• Operating costs: USD30.6 million, -2.7%;
• Operating EBITDA: USD96.4 million, +0.1%;
• Total EBITDA^: USD96.4 million, +43.2%;
• Profit before tax: USD53.1 million, +144.4%;
• Profit after tax^: USD37.5 million, +4.7%;
• Passenger numbers: 6.8 million, +2.3%;
  • International: 3.7 million, -0.6%;
  • Domestic: 3.0 million, +6.1%;
• Aircraft movements; 78,162, -2.9%. [more]

*Based on the conversion rate at USD1 = NZD1.44
^Excludes prior period investment property fair value decrease

Auckland Airport: "In the longer term, the aspirational goal is to grow international passengers at a rate significantly higher than the historical average. In the shorter term, passenger volume expectations are improving but still hard to forecast accurately…for the full 2010 financial year we now expect net profit after tax (excluding any fair value changes and other one-off items) to be in the range of NZD100 million to USD105 million, and capital expenditure to remain in the range of NZD60 million to USD65 million," Company statement. Source: Auckland Airport, 26-Feb-2010.