Aeroports de Paris sees “more favourable outlook” in coming months: Airport share wrap
Aeroports de Paris (AdP) stated it has “made the assumption” traffic would grow by 0.5% in 2010, given a “more favourable outlook” for the coming months, following the closure of Paris-Charles de Gaulle and Paris-Orly airports in Apr-2010 due to volcanic ash shutdowns across Europe, with an estimated impact on 1.4 million passengers. Passenger numbers rose just 0.8% to 18.2 million in 1Q2010.
AdP also anticipates “slight” revenue growth in 2010, while 2010 EBITDA is expected in the range of 2009 EBITDA. The airport operator reported a 6.2% year-on-year increase in revenue for the three months ended 31-Mar-2010 to EUR331.2 million. Aviation revenue was up 5.1% year-on-year to EUR331.2 million, details include:
+ Aeronautical: EUR176.5 million, +3.2%;
+ Ancillary fees: EUR44.9 million, +3.5%;
+ Airport fees: EUR98.0 million, +9.2%;
+ Other: EUR11.8 million, +6.2%.
Shares in AdP gained 3.4% following the release of the airport operator’s 1Q2010 revenue report yesterday.
Also in Europe, shares in Italy’s Autogrill led the way up closing 6.1% higher. The airport services company reported a 5.7% year-on-year increase in EBITDA for the three months 31-Mar-2010 to EUR98.2 million, while narrowing its net loss to EUR9.1 million, compared with a net loss of EUR25.1 million in 1Q2009. Broker Equita upgraded Autogrill to “buy” following the release of its results.
The full financial and traffic report for Aeroports de Paris is featured in today’s edition of Airport Business Daily. Subscribe today for the latest financial/traffic reports and strategic news updates from airports worldwide.
Selected airports daily share price movements (% change): 12-May-2010