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Aeroports de Paris revenue up 4%; Fraport downgraded to 'underperform'

France’s Aeroports de Paris (-0.3%) revenue up 4% - revenue highlights for the three months ended 30-Sep-2010:

  • Revenue: EUR717.8 million, +3.9% year-on-year;
  • Aviation: 396.6 million, stable;
  • Aeronautical fees: EUR226.6 million, +3.9%;
  • Ancillary fees: EUR40.3 million, -5.5%;
  • Airport security tax: EUR119.0 million, -3.5%;
  • Other: EUR10.6 million, -14.1%;
  • Retail and services: EUR231.1 million, +11.3%;
  • Retail: EUR113.3 million, +16.5%;
  • Car parks and access: EUR38.5 million, +7.5%;
  • Industrial services: EUR9.1 million, -3.4%;
  • Rental revenue: EUR23.2 million, -6.2%;
  • Other: EUR47.0 million, +16.3%;
  • Real estate: EUR57.8 million, +9.9%;
  • Ground handling and related services: EUR54.9 million, +12.5%.

See related CAPA profile: Financial results

Fraport Group (-2.7%) shares lost the most ground on Wednesday (10-Nov-2010). Fraport was also downgraded to “underperform” from “buy” at BofA Merrill Lynch Global Research. On the same day the airport operator reported a passenger traffic increase of 13.9% - traffic highlights in Oct-2010:

  • Passenger numbers: 8.5 million, +13.9%;
  • Aircraft movements: 70,737, +8.7%;
    • Frankfurt: 42,320, +4.0%;
    • Antalya: 16,514, +20.4%; 
    • Burgas: 488, -33.6%;
    • Lima: 10,694, +16.6
    • Varna: 721, +8.7%;

Selected airport operators/investors daily share price movements (% change): 09-Nov-2010

Italy’s Autogrill (-0.3%) shares decreased slightly on Wednesday while its stock has advanced almost 11% in 2010. The airport operator also reported a revenue increase of 6% - financial highlights for the nine months ended 30-Sep-2010:

  • Revenue: EUR4216 million, +6.3% year-on-year;
  • Food & beverages: EUR2959 million, +5.2%;
  • Travel retail and duty free: EUR1257 million, +9.2%;
  • Flight: EUR363.4 million, +20.4%;
  • EBIT: EUR247.8 million, +20.0%;
  • EBITDA: EUR474.2 million, +6.7%;
  • Food & beverages: EUR346.5 million, -0.6%;
  • Travel retail and duty free: EUR144.6 million, +26.1%;
  • Flight: EUR40.0 million, +14.8%;
  • Net profit: EUR116.8 million, +40.9%;
  • Capital expenditure: EUR120.9 million, +38.6%;
  • Net operating cash flows: EUR391.8 million, +23.8%.

Selected airport supplier’s daily share price movements (% change): 09-Nov-2010