Auckland and Malaysia airports down, Macquarie Airports, Ferrovial rise

Auckland Airport and Malaysia Airports Holdings Berhad’s shares were down 0.6% and 2.3%, respectively yesterday, ahead of the release of financial results today containing positive assessments about the long-term outlook.

Auckland Airport today reported a 1.6% year-on-year increase in operating EBITDA on the back of a 5.2% rise in revenue for the year ended 30-Jun-2009. The increase in revenue was primarily driven by retail and property rentals at the airport, which rose 7.0% and 6.2%, respectively, which also compensated for the decline in traffic.

Malaysia Airports also reported solid revenue growth in 1H2009, on the back of a 20.2% surge in aeronautical revenue. The airport operator saw passenger traffic rise 2.0% - attributed to the expansion of AirAsia, which contributed to the 30% increase in traffic at the Kuala Lumpur LCCT. Traffic at the Main Terminal Building at Kuala Lumpur International Airport dipped 14.7% during the period.

The airport also reported the following traffic highlights in Jul-2009:

  • Passenger numbers: 2.7 million, +8.8% year-on-year;
    • International: 1.8 million, +8.5%;
    • Domestic: 909,705, +9.3%;
  • Cargo Volume: 52,935 tonnes, +0%;
    • International: 47,412 tonnes, -1.2%;
    • Domestic: 5,522 tonnes, +11.1%;
  • Aircraft movements: 19,329, +7.1%;
    • International: 12,126, +10.9%;
    • Domestic: 7,203, +1.3%.

Shares in Chinese airport were mixed yesterday with Shanghai Airports leading the way gaining 3.8%, followed by Guangzhou and Hainan airports, up 2.8% and 2.3%, respectively. Beijing and Shenzhen Airport went against the trend, falling 2.8% and 0.4%.

Selected airports daily share price movements (% change): 27-Aug-09