Brussels airport boosted by retail revenue increase

Andrew Pentol

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Retail revenue in the final quarter of 2009 rose 9.8% compared to the same period the previous year

Brussels airport company has announced a 9.8% increase in retail revenue to €12.8m ($17.5m) in the final quarter of 2009 compared to the previous year. The increase was driven by the opening of new specialist shops and food and beverage outlets according to the company. Retail revenue per passenger rose 13.3% in the quarter and 10.4% for the full year and overall retail revenue for the year increased 1.4% to €47m ($64.3m) compared to the previous year. Total group revenues in 2009 dropped 3.6% to €365.7m ($500.6m) while EBITDA (before specific items) fell 5.8% to €203.1m ($278m). In the final quarter, operating costs decreased 0.7% to €87.3m ($119.5m) year on year and EBITDA (before specific items) rose 6.9% to €47.5m ($65m).

Macquarie Airports (MAp), the majority shareholder in the company, was satisfied with the results. CEO Kerrie Mather said: “This is a pleasing result for Brussels airport. Particularly welcome is the continuing moderation in traffic performance, which was down 3.1% in the final quarter and the significant out-performance in EBITDA which was up to 6.9%.

"Retail revenues have performed well, both in the final quarter and for the full year. This growth has resulted from increased spend-per-passenger, primarily driven by new retail initiatives delivered in 2008 and 2009 which have improved the quality of the specialist shops and food and beverage offering. More than 20 new retail outlets have opened over the last 12 months and the improved offering has been welcomed by passengers.

“The significant improvement through the year reflects the gradual restoration of airline capacity, continued delivery of new routes and services and the revenue initiatives and productivity gains which have resulted from the September 2009 financial performance improvement plan implemented under MAp’s stewardship.”