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’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
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.
- Copenhagen Airport reports net profit down 18.7% in 2009;
- Paris-Charles de Gaulle Airport reports 1% rise in Jan-2010 pax numbers;
- Grupo Aeroportuario del Pacífico reports net profit down 22.2% in 2009;
- Plattsburgh International Airport increases in traffic;
- Port Columbus Airport reports 5% rise in Jan-2010 pax numbers;
- ACI World forecasts 3% to 4% rise in 2010 passenger traffic;
- Boston Logan Airport reports 11% rise in Jan-2010 pax numbers;
- Las Vegas McCarran Airport reports 0.2% drop in Jan-2010 pax numbers.
Selected airports daily share price movements (% change): 24-Feb-2010