AUSTRALIA. Sydney Airport produced a buoyant retail performance in the year to 31 December 2010, with revenue increasing by +10.5% to A$212.9 million (US$210 million), ahead of international traffic growth of +6.9%.
Specialist shops and food & beverage operations performed especially well, said Sydney Airport. In Q4 2010, retail revenue hit A$56.6 million (US$55.8 million), a rise of +7.1% year-on-year.
Total company revenue for the year posted a +10.5% increase to A$943 million (US$930 million), while EBITDA (before specific expenses) climbed +12% to A$773.3 million (US$763 million).
Kerrie Mather, CEO of leading shareholder MAp, said: “Sydney Airport has delivered an outstanding performance for 2010. EBITDA growth of +12% has been driven by the completion of a significant multi-year investment programme across the business, solid increases across all revenue streams and strong traffic growth.
“2010 saw the completion of two major projects including the redevelopment of the International Terminal and runway safety works. Passengers and airlines continue to benefit from the improved services and facilities provided through the International Terminal redevelopment.
“Retail revenue for the year grew +10.5%, driven by +7.8% passenger growth and new retail offerings in the International Terminal. Increases in specialist shops and food & beverage have been particularly pleasing. Most recently, a Travel Concierge facility opened in the International Terminal Arrivals area in time for Christmas to provide inbound passengers with a range of accommodation and event bookings services.
“Ground transport and commercial services revenues grew by +7.9% for the year reflecting the strong traffic growth. Passengers have responded positively to several new initiatives including an upgrade of the taxi holding area and introduction of 15 minutes’ free parking at the International Terminal.
“During 2010, Sydney Airport continued to welcome new airlines and services including Air Mauritius and Brindabella Airlines. Capacity increases are set to continue with Hainan’s commencement of services between Sydney, Shenzhen and Hangzhou this month and Qantas’ Sydney-Dallas/Fort Worth service beginning in May. This brings the number of North American destinations served non-stop from Sydney to five, the most extensive North American network of any Australian airport.
“Sydney Airport is well positioned to grow traffic and develop new markets in 2011 based on a solid pipeline of announced new routes and services.”
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