Sydney Airport reports 'strong' start to 2013, 1H2013 EBITDA up 6%

Australia's Sydney Airport revenue up 7% - financial highlights for six months ended 30-Jun-2013:

• Revenue: AUD537.9 million (USD545.3 million), +6.8% year-on-year;
• • Aeronautical: AUD223.6 million (USD226.7 million), +6.9%;
  • Aeronautical security recovery: AUD42.0 million (USD42.6 million), +9.9%;
  • Retail revenue: AUD116.4 million (USD118.0 million), +0.9%;
  • Property and car rental: AUD90.3 million (USD91.5 million), +10.5%;
  • Car parking and ground transport: AUD62.9 million (USD63.8 million), +11.5%;
• EBITDA: AUD436.9 million (USD442.9 million), +6.3%;
• Net profit (loss): (AUD31.8 million) (USD32.2 million);
• Passenger numbers: 18.2 million, +3.0%;
• Total assets: AUD7195 million (USD7294 million);
• Cash and cash equivalents: AUD263.6 million (USD267.2 million);
• Total liabilities: AUD8915 million (USD9037 million). [more - original PR]

*Based on the average conversion rate at USD1 = AUD0.9865

Sydney Airport: "2013 has started strongly with 3.6% international passenger growth in the year to date. Management will continue to work with key partners to market Sydney and drive tourism growth. New business initiatives across all revenue lines are already delivering positive outcomes including yield improvements. Prudent management of expenses and capital will drive further growth in EBITDA and cash flow per security. We also remain focused on delivering all components of the simplification prior to the end of 2013," Kerrie Mather, CEO. Source: Company statement, 22-Aug-2013.