28-Feb-2011 3:45 PM
Shanghai, OMA and Aeroports de Paris report 2010 results
Analysis
Shares in airport stocks had a mixed day on Friday, as oil prices eased later in the week and most major exchanges finished stronger. Shanghai Airport reported a profit of USD199 million for 2010, while Aéroports de Paris recorded a EUR300 million profit. Mexican Airport operator OMA also recorded a strong 2010 result, with net profit up 17.5% to USD45.5 million.
Summary
- Shanghai Airport reported a profit of USD199 million for 2010, with significant growth in operating revenue, operating profit, and net profit.
- Aéroports de Paris recorded a EUR300 million profit in 2010, with a slight increase in revenue and passenger numbers.
- Mexican Airport operator OMA reported a strong 2010 result, with net profit up 17.5% to USD45.5 million.
- Shanghai Pudong Airport experienced a significant increase in passenger numbers, cargo volume, and aircraft movements in 2010.
- Aéroports de Paris saw growth in retail and services revenue, while aviation revenue experienced a slight decline.
- OMA reported a significant increase in total revenue, with growth in non-aeronautical revenue and construction revenue.
Shanghai Pudong Airport financial highlights for the 12 months ended 31-Dec-2010:
- Operating revenue*: USD636.7 million, +25.4% year-on-year;
- Aeronautical: USD349.0 million, ++20.7%;
- Ground service: USD40.4 million, +39.2%;
- Rental: USD52.2 million, +8.0%;
- Commercial catering: USD152.4 million, +50.2%;
- Operating profit: USD253.6 million, +90.9%;
- Net profit: USD199.0 million, +84.9%;
- Passenger numbers: 40.6 million, +27.1%;
- Cargo volume: 3.2 million tonnes, +26.9%;
- Aircraft movements: 332,127, +15.4%.
* Based on the conversion rate USD1 = CNY6.57555
Aéroports de Paris financial highlights in 2010:
- Revenue: EUR2739 million, +4.0% year-on-year;
- Aviation: EUR1450 million, +1.4%;
- Aeronautical: EUR795 million, +1.6%;
- Ancillary: EUR172 million, +2.9%;
- Airport security tax: EUR436 million, +0.6%;
- Retail and services: EUR944 million, +8.5%;
- Ground handling: EUR197 million, +5.2%;
- Aviation: EUR1450 million, +1.4%;
- EBITDA (loss): EUR927 million, +5.0%;
- Aviation: EUR337 million, -2.0%;
- Retail and services: EUR440 million, +9.3%;
- Ground handling: (EUR3.1 million), compared with a loss of EUR2.5 million in p-c-p;
- Net profit: EUR300 million, +11.3%;
- Passenger numbers: 83.4 million, +0.4%;
- LCCs: +5.7%;
- Cargo volume: 2.5 million tons, +15.9%;
- Aircraft movements: 707,578, -4.2%;
- 2011 forecast:
- Passenger traffic: +4% to +5%.
OMA reported the following financial highlights:
- 12 months ended 31-Dec-2010:
- Total revenue*: USD217.6 million, +39.8%;
- Aeronautical: USD135.7 million, +8.2%;
- Non-aeronautical: USD40.4 million, +33.2%;
- Construction revenue: USD41.6 million, +100%;
- Adjusted EBTDA: USD77.2 million, -3.1%;
- Net profit: USD45.4 million, +17.5%;
- Capital expenditure: USD60.1 million, +15.7%;
- Passenger numbers: 11.5 million, +0.6%;
- Aircraft movements: 344,827, +5.5%;
- Total revenue*: USD217.6 million, +39.8%;
* Based on the conversion rate USD1 = MXN12.1822
Selected ABD daily share price movements (% change): 25-Feb-2011
