Australian Infrastructure Fund reports 1HFY2010 profit improvement

Australian Infrastructure Fund (AIX) revenue down 0.5% - financial/traffic highlights for the six months ended 31-Dec-2009:

• Revenue: USD126.9 million, -0.5% year-on-year;
  • Perth Airport: USD110.1 million, +20.8%;
  • Australia Pacific Airports: USD230.2 million, +7.4%;
  • Queensland Airports: USD45.3 million, +23.7%;
  • Northern Territory Airports: USD31.4 million, +8.6%;
  • HOCHTIEF AirPort:
    • Sydney: USD761.8 million, +5.0%;
• Cost: USD6.6 million, -36.2%;
• EBITDA:
  • Perth Airport: USD72.4 million, +27.5%;
  • Australia Pacific Airports: USD174.8 million, +11.1%;
  • Queensland Airports: 27.1 million, +27.4%;
  • Northern Territory Airports: USD21.1 million, +9.6%;
  • HOCHTIEF AirPort:
    • Sydney: USD616.3 million, +5.6%;
• Profit before interest and income tax: USD121.5 million, -0.8%;
• Profit before income tax: USD120.3 million, +2.6%;
• Net profit: USD115.9 million, +13.6%;
• Passenger numbers:
  • Perth Airport: 5.3 million, +6.6%;
  • Australia Pacific Airports: 13.7 million, +3.7%;
  • Queensland Airports: 3.5 million, +8.9%;
  • Northern Territory Airports: 1.3 million, +5.8%;
  • HOCHTIEF AirPort:
    • Sydney: 33.0 million, +0.4%;
    • Düsseldorf: 17.8 million, -2.0%;
    • Hamburg: 12.2 million, -4.7%;
    • Athens: 16.2 million, -1.5%. [more]

*Based on the conversion rate at USD1 = AUD1.12

Australian Infrastructure Fund: "The AIX airports, comprising 93.6% by portfolio value, have experienced a rebound in passenger growth rates over the half year ended 31-Dec-2009. The performance of the Australian airports (79.0% of the portfolio) has remained strong, with AIX-weighted growth of 6.3% on pcp. The European airports (14.7% of the portfolio) have returned to positive passenger growth, with 0.7% growth on pcp when weighted by AIX's interest. The AIX portfolio is well positioned with a track record of strong passenger growth, disciplined capital management and a sound value proposition. The AIX Australian airports continue to benefit from the penetration of low cost carriers (LCCs) into the Australian aviation market and are ideally located to benefit from the significant growth potential in the Asia-Pacific region," Company statement. Source: Australian Infrastructure Fund, 25-Feb-2010.