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MAp EBITDA up 15.7% for nine months ended Sep-2010

2-Nov-2010 1:09 PM

Australia’s MAp released (02-Nov-2010) the following financial highlights for the nine months ended 30-Sep-2010:

  • Proportionate earnings*: USD319.3 million, +19.5% year-on-year;
  • EBITDA**: USD589.9 million, +15.7%;
  • ASUR sale proceeds: USD227.1 million, equivalent to 12.5% per stapled security;
  • Passenger numbers: 31.2 million, -9.6%. [more]

*Based on the conversion rate at USD1 = AUD1.0129
*After corporate expenses

MAp: “MAp’s financial position remains extremely sound with no corporate level debt. In early October, Sydney Airport successfully refinanced debt maturing in 2011 and 2012, hence MAp now faces no debt maturities at its airports until December 2012. Post the divestment of our 16% interest in ASUR, a special distribution of 12.5 cents per stapled security was paid on 21 October 2010 and we reaffirm regular distribution guidance for the full year of 21 cents per stapled security, subject to external shocks to the aviation industry or material changes to forecast assumptions,” Kerrie Mather, CEO. Source: MAp, 02-Nov-2010.