Infratil revenue up 5.9%, EBITDAF up 2% in FY2010

New Zealand's Infratil revenue up 5.9% - financial highlights for the 12 months ended 31-Mar-2010:

• Total revenue: USD1,278 million, +5.9% year-on-year;
  • Wellington Airport: USD72.8 million, +8.8%;
    • Aeronautical: USD38.0 million, +2.4%;
  • Infratil Airports Europe: USD38.9 million, -28.9%;
• EBITDAF (loss): USD252.8 million, +1.7%;
  • Wellington Airport: USD47.4 million, +3.0%;
  • Infratil Airports Europe: (USD6.3 million), compared with a loss of USD13.2 million in the previous corresponding period;
• Net profit: USD20.2 million, compared with a loss of USD133.0 million in the previous corresponding period;
• Passenger numbers:
  • Wellington Airport:
    • Domestic: 4.5 million, -3.3%;
    • International: 626,646, +2.6%;
  • European airports: 1.7 million, -37.5%. [more]

*Based on the conversion rate at USD1 = NZD1.436

Infratil: "While passenger numbers declined [at Wellington Airport] to 5,117,906 from 5,256,437 EBITDAF increased NZD3 million to NZD68 million due to higher income from passenger services (up NZD2.1 million) and aeronautical charges (up NZD1.3 million) … over the last 20 years Wellington's traffic has gone from 2.6 million to 5.1 million passengers and approximately the same growth rate is forecast into the future, meaning that in 2030 it will have about 10 million passengers, which will require approximately NZD450 million of new capital be invested to enlarge facilities," Company statement. Source: Infratil, 18-May-2010.