MAp reports USD672.3 million loss before tax compared to USD2 billion profit in 2010


Australia's MAp Group has released its financial highlights for the 12 months ended 31-Dec-2009. While operating costs reduced 29.3% year-on-year, revenue slumped 75.8% year-on-year to USD1,083 million, due to the "de-consolidation" of Brussels and Copenhagen airports and lack of re-valuation gains, producing a loss before tax of USD672.3 million, compared to a profit of USD1,996 million in the previous corresponding period.

  • MAp Group's financial highlights for 2009 show a significant decrease in revenue and a loss before tax due to the de-consolidation of Brussels and Copenhagen airports.
  • MAp Group expects continued recovery in the aviation sector in 2010 and maintains strong long-term growth prospects.
  • Malaysia Airports Holdings Berhad reports an increase in EBITDA and revenue for 2009, with LCC traffic surpassing main terminal traffic at Kuala Lumpur International Airport.
  • MAHB shortlists five companies for the construction of the new low-cost carrier terminal at KLIA.
  • Grupo Aeroportuario del Centro Norte (OMA) experiences a reduction in net profit for 2009 but sees a significant increase in net profit for Q4 2009.
  • Other airports, such as Copenhagen, Paris-Charles de Gaulle, Plattsburgh, Port Columbus, Boston Logan, and Las Vegas McCarran, report various changes in passenger numbers and financial performance.

MAp's core portfolio includes Sydney, Copenhagen and Brussels airports. The airport operator stated 2010 is expected to be a year of continued recovery in the aviation sector, while the company's long-term growth prospects remain strong.

MAp shares have gained 0.65% in early trade on the ASX today after falling 1.6% yesterday.

See related report: MAp Group back in growth mode. Q&A with CEO, Kerrie Mather

Traffic at KLIA (LCC) gaining on main terminal operations: Malaysia Airports Holdings Berhad

Malaysia Airports Holdings Berhad's shares gained 0.6% yesterday, upon the release of the airport operator's financial report for the 12 months ended 31-Dec-2009. MAHB reported an 11.6% increase in EBITDA to USD188.5 million for 2009, on a 14.7% year-on-year increase in revenue to USD481.3 million.

Traffic through Kuala Lumpur main terminal building (MTB) declined 4.6% year-on-year, while LCC traffic jumped 29.2% year-on-year. LCC passenger numbers are gaining on MTB traffic, with LCC handling 13.1 million passengers and MTB 16.6 million in the 12 months period.

MAHB has meanwhile shortlisted five companies to build the main terminal and satellite tower for the new USD588 million low-cost carrier terminal (LCCT) at KLIA, with a decision to be announced soon.

OMA shares up on release of financial report

In Mexico, Grupo Aeroportuario del Centro Norte (OMA) reported a 13.3% reduction in net profit to USD36.6 million in the 12 months ended 31-Dec-2009, despite a 248% year-on-year increase in net profit to USD12.8 million in the fourth quarter (three months ended 31-Dec-2009). Adjusted EBITDA for the full year was down 7.9%, on a 4.6% revenue reduction to USD147.8 million. Shares in OMA gained 1.3% yesterday.

The full financial reports for MAp, Malaysia Airports Holdings Berhad and OMA are available in today edition of Airport Business Daily, which also included financial and traffic highlights:

Selected airports daily share price movements (% change): 24-Feb-2010

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