MALAYSIA. Malaysia Airports has reported healthy revenue and profits growth for the first half of 2012, driven partly by a strong performance from commercial activities.
Non-aeronautical revenues (accrued to the company) climbed by +9.9% year-on-year to RM479.1 million (US$154.2 million). Within this, retail revenues grew by +13.2% to RM258.2 million (US$83 million), well ahead of passenger growth of +4.8% (international +5.1%, domestic +3.5%) across the group’s airports.
At Kuala Lumpur International Airport (including the low-cost terminal), gross commercial sales hit RM609.5 million (US$196.2 million), up by +5.7% on a year earlier. The Satellite Building, which houses the main duty free offer, accounted for 39% of that total.
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How the company’s aeronautical and non-aeronautical revenues were split in H1 2012 |
Sales per passenger at KLIA (excluding the low-cost terminal) hit RM39.99 (US$12.87), up by +9.3%, while sales per passenger at the low-cost terminal were RM22.72 (US$7.31), up by +2.6%.
Retail subsidiary Eraman had half-year sales of 229.1 million (US$73.7 million) at KLIA, up by +8.6%, with 51% generated by the low-cost terminal. The retailer’s revenue per passenger across KLIA’s terminals hit RM11.87 (US$3.82), an increase of +8.6% on H1 2011.
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Commercial sales at KLIA surged ahead in the first half |
In the first half of 2012, Malaysia Airports’ total revenue grew by +14.5% compared to the same period last year and profit grew by +8.7% over last year.
The company noted: “The positive financial performance is a reflection of the growth in passenger traffic as well as commercial revenue.
“Not only has Malaysia Airports seen an increase in passenger traffic, it has also experienced an increase in passenger spending at the airports, that contributed to higher commercial revenue for the company in the first half of the year. This is due to the improved product offerings and retail infrastructure available at the airports, as a result of the continuous Retail Optimisation Project implemented by Malaysia Airports since 2009. The airports now offer a new, exciting shopping experience, especially at KLIA.”
The latest major project, KLIA2, is on track to open in April 2013, the company said.
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Eraman’s retail performance outstripped the growth in passenger traffic |
