Positive first quarter for MAp airports

Nicole Mezzasalma

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The company recorded growth in EBITDA at each of its four airports in the three months to March 31

Macquarie Airports (MAp) has announced the first quarter results for its core portfolio. All four airports registered growth in EBITDA for the three months to March 31.

Sydney airport registered a rise 6.8% in EBITDA to A$162m ($152m) compared with the same period of 2006. Retail revenue increased by 6.6% to A$47.1m ($44.2m) “as a consequence of the relative infancy of the duty-free contract and the fact that it is operating at minimum rents”, MAp said in a statement.

Copenhagen airport’s EBITDA grew by 3.6% to DKr374.9m ($77.9m) in the first quarter of 2008. According to MAp, actions taken by the airport in 2007 to enhance the duty-free offer are now beginning to have a positive effect on retail revenue.

At Brussels airport, EBITDA was up by 19.6% to €43.4m ($67.3m) thanks to solid revenue growth in the aeronautical, retail and car parking businesses. The airport has also unveiled plans to create dedicated low-cost facilities in the near future.

Finally, Bristol airport recorded an increase of 20.1% in EBITDA to £5.8m ($11.5m) owing to strong growth in passenger numbers and a good performance from car parking activities due to improvements in that area.