Airports Company South Africa builds “solid” financial platform.
SYDNEY (Centre for Asia Pacific Aviation) - Airports Company South Africa (ACSA) reported a 2.3% increase in EBIDTA to ZAR1.2 billion for the 12 months ended 31-Mar-05, which it states has set a “solid platform for continued and sustainable financial performance”. ACSA reports revenue rose 5.3% to ZAR1.9 billion, due to efforts to diversify revenues away from aeronautical sources in an unstable airline and regulatory environment.
Non-aeronautical revenue now accounts for 45.5% of ACSA’s total revenue and has further growth potential. Meanwhile, ACSA has invested ZAR3 billion on capital expenditure programmes over the past five years, and plans to invest an additional ZAR5.2 billion in the next five years as it prepares for the influx of visitors expected in South Africa for the 2010 Soccer World Cup.
- Central Terminal development is being brought forward by two years and will cost an estimated ZAR1.6 billion. It will include a terminal for the Gautrain Rapid Rail Link;
- New Northern International Pier, to accommodate A380 aircraft - ZAR512 million; Two new multi-storey car parks with 4,000 spaces - ZAR300 million;
- Additional aircraft parking aprons - ZAR100 million. Cape Town International Airport: Work has commenced on a new ZAR70 million multi-storey car park, with plans to construct a further car parking area at an estimated cost of ZAR125 million;
- Expansion of original plans for a new Domestic Terminal building - ZAR650 million; Additional aircraft parking apron - ZAR100 million.
- The recently upgraded terminal buildings will be extended - ZAR35 million;
- Apron expansion - ZAR30 million;
- Provision is also being made for a structured parking area - ZAR93 million.