Beijing Capital Airport revenue up 19%; Malaysia Airports Holdings revenue increases 11.4%
China's Beijing Capital International Airport Co (-1.5%) shares fell on Tuesday (17-Aug-2010), the same day the airport reported the following financial/traffic highlights for the six months ended 30-Jun-2010:
- Beijing Capital International Airport Co reported a 19.0% increase in revenue for the first half of 2010, driven by growth in both aeronautical and non-aeronautical segments.
- The airport experienced a significant increase in operating profit and net profit, with operating cash flow more than quadrupling compared to the previous year.
- Passenger numbers at Beijing Capital Airport grew by 13.2% during the same period, while cargo volume and aircraft movements also saw positive growth.
- Total assets of the airport decreased by 4.8% compared to the end of 2009, while total liabilities decreased by 7.7%.
- Malaysia Airports Holdings Berhad reported an 11.4% increase in revenue for the first half of 2010, driven by growth in airport operations and non-aeronautical segments.
- Despite the increase in revenue, Malaysia Airports Holdings Berhad experienced a decrease in net profit, but announced plans to raise approximately MYR3.1 billion through a bond issue to finance expansion projects.
- Revenue: USD401.9 million, +19.0% year-on-year;
- Aeronautical: USD247.6 million, +11.9%;
- Non-aeronautical: USD154.3 million, +32.5%;
- Business tax and levies: USD16.5 million, +13.2%;
- Aeronautical: USD7.4 million, +3.6%;
- Non-aeronautical: USD9.1 million, +22.4%;
- Operating costs: USD295.9 million, +3.5%;
- Operating profit: USD91.6 million, +145.4%;
- Net profit: USD29.4 million, +92.3%;
- Operating cash flow: USD359.4 million, +422.6%;
- Passenger numbers: 35.1 million, +13.2%;
- Cargo volume: 732,230 tonnes, +11.0%;
- Aircraft movements: 251,608, +5.8%;
- Total assets: USD5,105 million, -4.8% when compared with period ended 31-Dec-2009;
- Total liabilities: USD3,243 million, -7.7% when compared with period ended 31-Dec-2009.
*Based on the conversion rate at USD1 = CNY6.83
Beijing Capital International Airport Co: "In the second half year of 2010, the air traffic growth in the first half year is expected to be maintained at Beijing Capital Airport, while the international passenger throughput will outperform the domestic passenger throughput in terms of growth. In the second half year of 2010, the Company will actively seek policy support and strengthen the cooperation with other airlines to simplify the transit process, improve flight bank and attract transit passengers. In addition, the Company is to proactively launch the regular flights of large aircraft such as Airbus A380 to ease the contradiction between the air traffic growth and the inadequate slots at Beijing Capital Airport," Company statement. Source: Beijing Capital Airport, 17-Aug-2010.
Malaysia Airports Holdings Berhad (+1.1%) announced its revenue went up by 11.4% for the six months ended 30-Jun-2010:
- Revenue: USD274.3 million, +11.4% year-on-year;
- Airport operations: USD255.7 million, +12.8%;
- Aeronautical: USD132.1 million, +8.5%;
- Non-aeronautical: USD123.5 million, +17.7%;
- Retail: USD61.9 million, +20.8%;
- Rental & royalties: USD50.9 million, +11.1%;
- Car park: USD4.5 million, +11.1%;
- Others: USD6.5 million, +61.2%;
- Airport operations: USD255.7 million, +12.8%;
- Total operating costs: USD148.4 million, +11.4%;
- EBITDA: USD104.4 million, +11.4%;
- Airport operations: USD120.1 million, +15.0%;
- Net profit: USD41.5 million, -14.0%;
- Operating cash flow: USD71.6 million, compared with a negative cash flow of USD7.8 million in p-c-p;
- Passenger numbers: 27.7 million, +17.8%;
- KLIA: 16.2 million, +20.0%;
- LCCT: 7.2 million, +19.6%;
- KLIA: 16.2 million, +20.0%;
- Aircraft movements: 284,500, +10.8%;
- KLIA: 118,800, +8.8%;
- LCCT: 53,900, +12.7%;
- KLIA: 118,800, +8.8%;
- Total assets: USD1,670 million, +1.8% when compared with period ended 31-Dec-2009;
- Total liabilities: USD642.7 million, +10.7% when compared with period ended 31-Dec-2009. [more]
*Based on the conversion rate at USD1 = MYR3.18
Meanwhile, Malaysia Airports Holding Ltd CFO, Faizal Mansor announced the company will appoint CIMB Group Holdings Bhd and Citigroup Inc as lead arrangers for a bond issue expected to raise approximately MYR3.1 billion (USD981 million). The issue will be ringgit-denominated and the funds used to finance expansion including a LCCT at Kuala Lumpur. The company did not specify when the size of the bond will be fixed and priced.
See related CAPA profile: Financial results
Selected airports daily share price movements (% change): 17-Aug-2010
