Aeroports de Paris revenue increase by 2.5%; Copenhagen Airport reaches new price agreement
France's Aeroports de Paris (+2%) shares gains slightly on Tuesday (31-Aug-2010) after reporting a revenue increase of 2.5% for the six months ended 30-Jun-2010:
- Aeroports de Paris reports a 2.5% increase in revenue for H1 2010.
- Retail revenue for Aeroports de Paris increases by 4.6%.
- Net profit for Aeroports de Paris increases by 8.2%.
- Passenger numbers at Paris Charles de Gaulle and Paris Orly decrease by 1.9% and 2.5% respectively.
- Copenhagen Airport reaches a new price agreement with airlines, resulting in a 35% lower passenger charge for its LCCT.
- Copenhagen Airport introduces a charge based on aircraft emissions of nitrogen oxides to promote environmentally friendly aircraft.
- Revenue: EUR1,318 million, +2.5% year-on-year;
- Aviation: EUR692.0 million, stable;
- Airport fees: EUR374.1 million, -0.5%;
- Ancillary fees: EUR82.7 million, -4.0%;
- Airport security tax: EUR211.6 million, +2.0%;
- Retail 450.6 million, +4.6%;
- Commercial activities: EUR195.7 million, +9.6%;
- Car parks and access roads: EUR74.1 million, +2.7%;
- Industrial services: EUR35.4 million, -3.4%;
- Rental income: EUR47.2 million, -5.5%;
- Real estate: EUR114.3 million, +6.0%;
- Ground handling: EUR93.7 million, -0.4%;
- Aviation: EUR692.0 million, stable;
- EBITDA: EUR432.3 million, +2.1%;
- Aviation: EUR156.9 million, +1.6%;
- Net profit: EUR137.7 million, +8.2%;
- Passenger numbers: 39.1 million, -2.1%;
- Paris Charles de Gaulle: 27.1 million, -1.9%;
- Paris Orly: 12.0 million, -2.5%;
- Net debt: EUR2,407 million, +3.0% when compared with period ended 31-Dec-2009.
Aeroports de Paris: "Assuming passenger traffic in the same order of magnitude in 2010 as in 2009, Aéroports de Paris is maintaining its forecast of a slight increase in 2010 revenue compared to 2009. In the light of the performance achieved during the 1st half of 2010, Aéroports de Paris is now forecasting a better than expected EBITDA for 2010, ie a slight increase compared to 2009," Company statement. Source: Aeroports de Paris, 31-Aug-2010.
See related CAPA profile: Financial results
Denmark's Copenhagen Airport (+2%) announced it has reached a new price agreement with a number of airlines, meaning the passenger charge for the airport's LCCT, CPH Swift, will be approximately 35% lower than the current passenger charge. Copenhagen Airport will be the first major European airport to offer differentiated prices. The new long-term charges agreement recently approved by the Danish Civil Aviation Administration (CAA-DK) is a supplement to the existing price agreement from autumn 2009 and will be in force until 31-Mar-2015. The parties to the new agreement are CPH and SAS, Cimber Sterling, Norwegian and IATA, representing approximately 88% of traffic at the airport.
In addition to the changed passenger charges, the agreement also includes a new charge based on aircraft emissions of nitrogen oxides, designed to promote the use of more environmentally friendly aircraft. The airport stated the new prices will mean new growth opportunities for CPH and key airlines, improve Denmark's international accessibility and give passengers access to more cheap tickets to a wider range of destinations. The terminal is scheduled to open on 31-Oct-2010.
Other European airport operators that lost ground yesterday included TAV Airports (-1.5%) and Autogrill (-1.3%). Meanwhile, Fraport (+0.2%) and Gemina (+2.3%) shares gained.
Selected airports daily share price movements (% change): 31-Aug-2010
