Retail strong at Rome airports, says Macquarie – 13/03/07

ITALY. Retail revenues at Rome airports are experiencing “robust” growth, according to the full-year 2006 results of Aeroporti di Roma (AdR) announced today.

Kerrie Mather, CEO of Macquarie Airports (MAp), which owns AdR, said: “AdR experienced robust growth in non-aeronautical revenues in 2006 increasing by +7.5% on the previous corresponding period (pcp), driven by retail and advertising revenue. This performance, however, was largely offset by a decrease in aeronautical revenues as a result of the reduction in chargeable fuel royalties and the elimination of night surcharges.

“Traffic grew by +6.7% on the pcp to reach 35.1 million passengers for the full year. This strong traffic performance has continued through January and February with growth of +7.9% on the pcp.”

Highlighting the contribution of travel retailing revenues to AdR’s results, Mather continued: “Retail revenues were strong, growing +14.4% in 2006. This was driven primarily by a +20.7% increase in concession retailing due to the opening of new branded shops, the refurbishment or substitution of 1,100sq m of retail space and the addition of over 1,500sq m of retail space. AdR’s direct retail has also performed strongly, with duty free revenues increasing by +10.8% on the pcp.”

Mather noted that AdR’s traffic growth and underlying business continued to be strong. The company would continue to focus on its core business with the spin-off and sale of the cargo business expected during 2007.

For the full year to 31 December 2006 AdR reported EBITDA of €256.7 million, representing a -1.7% fall on the previous corresponding period.

MORE STORIES ON MACQUARIE AIRPORTS/AEROPORTI DI ROMA

Macquarie Airports enjoys good all-round performance in December – 30/01/07

Aeroporti di Roma makes rapid progress in “˜turnaround’ of commercial offer – 30/11/06

Sydney Airport international passenger traffic surges +7.8% in October – 20/11/06

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