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BAC Managing Director and CEO Koen Rooijmans: “Brisbane Airport is three times larger than Australia’s busiest airport, Sydney… We will continue to attract a growing number of aviation and non-aviation industries to the airport.” |
AUSTRALIA. Brisbane Airport Corporation (BAC) has delivered a striking financial performance for the 2005/05 financial year, which it says marks it as one of Australia’s fastest-growing companies in the transport sector.
BAC posted a A$33 million, or +187%, increase in net profit before tax/shareholder distribution for the financial years.
BAC announced a +24.4% increase in EBIT (unaudited) to A$127.2 million up from A$102.2 million in the previous year. Net profit, before tax and shareholder distributions grew to A$50.7 million, up from A$17.7 million.
For the second year in a row international and domestic passenger numbers experienced double digit growth, with an +11.2% increase for the year. Overall, passenger numbers have grown by +37% international and +28% domestic over the two years ending June 2005. Much of that growth was driven by international travel, with more than 3.6 million passengers passing through Brisbane’s International Terminal, up +19% compared to the same 12-month period a year earlier.
BAC Managing Director and CEO Koen Rooijmans said the result was “immensely pleasing”. He said: “Airports must continually invest and re-invest, and a side-effect of this growth is that it brings forward the need to invest for the future, and lock in the benefits of this growth for the regional economy. It underlines the importance of our A$1.5 billion investment over the next five years, including a new parallel runway and significant expansion of the international and domestic terminals, as well as substantial road infrastructure and property development.”
Rooijmans said it was pleasing for shareholders to be finally making a reasonable return after more than seven years of poor results; however capital expenditure in 2004-05 showed the company was re-investing profit back into infrastructure.
He added: “Brisbane Airport has entered an extraordinary period of growth which will see it evolve into a commercial hub and sharpening the region’s focus on manufacturing, export industries, tourism, commerce, retail and education and training. Brisbane Airport is three times larger than Australia’s busiest airport, Sydney. With room for expansion and the opportunity for tenants to maximise their business capabilities by leveraging the airport’s curfew free status and transport networks, we will continue to attract a growing number of aviation and non-aviation industries to the airport.”
BAC’s EBITDA grew +18.5% for 2004/05. Total revenue grew by +18.6 per cent to A$229 million.
The Nuance Group is Brisbane’s duty free retailer.
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