20-Apr-2011 1:03 PM

Sydney Airport revenue up 4%, EBITDA up 3% in 1Q2011

Australia’s Sydney Airport revenue up 4% - financial highlights for the three months ended 31-Mar-2011:

  • Revenue: USD252.4 million, +4.4% year-on-year;
  • Aeronautical: USD105.9 million, +5.2%;
  • Aeronautical security recovery: USD19.8 million, +4.8%;
  • Retail: USD57.9 million, +6.5%;
  • Property and car rental: USD40.0 million, +1.4%;
  • Ground transport and commercial services: USD27.7 million, +1.5%;
  • EBITDA**: USD204.6 million, +3.4%;
  • EBITDA: USD204.4 million, +3.3%;
  • Capital expenditure: USD35.3 million, +8.3%. [more]

* Based on the conversion rate AUD1 = USD1.05758

** Before specific expenses

MAp: Sydney Airport delivered a solid performance for the first quarter of 2011 with EBITDA growth of 3.4%, outperforming traffic growth of 1.5%. This was despite a number of disruptions in the first quarter, with severe weather in Queensland and earthquakes in New Zealand and Japan having a significant impact on traffic growth and financial performance. The late timing of Easter in 2011 also weighed on performance in the first quarter,” Kerri Mather, CEO. Source: MAp, 20-Apr-2011.