Schiphol, Auckland and Guangzhou airports report earnings
SYDNEY (Centre for Asia Pacific Aviation) - Schiphol Group, operator of Amsterdam Airport, reported a 1.9% year-on-year reduction in net profit in the first half of 2005 (excluding capital gains on investment property). Schiphol expects the full year 2005 net result to be “on par” with 2004.
Passenger numbers and cargo volume at Amsterdam rose 3.2% and 3.0% respectively year-on-year in the first half - slightly less than the forecast for the whole of 2005, as published in the 2004 Annual Report. Costs also rose due to new security measures and higher insurance premiums. (On 30-Jun-05, the Dutch Lower House approved a proposal to sell a minority interest in Schiphol Group and the method of privatisation - trade sale or IPO - is under consideration).
Meanwhile, Auckland International Airport Ltd (AIAL) announced a 12% rise in net profit to NZD105.6 million in the 12 months ended 30-Jun-05, driven by “continued strong growth” in passenger and aircraft movements, with total passengers for the year exceeding 11 million for the first time. Revenue rose 7.7% to NZD282.6 million with aeronautical and non-aeronautical areas growing strongly. AIAL said the outlook is “positive” for the current financial year and beyond.
The level of traffic growth in the current financial year is anticipated to be more in line with longer-term trends, compared with the higher growth rates experienced over the last two years, but the company expects net profit for 2005/06 to exceed NZD100 million. The AIAL result mirrors Macquarie Airports’ sentiment yesterday, with CEO, Kerrie Mather, stating the outlook for its airports in the second half of 2005 “remains positive”.
Guangzhou Baiyun International Airport Co Ltd also reported its earnings for the first half of 2005, revealing a 41.9% reduction in net profit to CNY129.6 million, due to sharply higher operating and labour costs. Revenue at the new airport rose 37.1% to CNY979.6 million as six new airlines added services to Guangzhou. A forecast for the remainder of 2005 was not disclosed.
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