Welcome!

News Feed Item

Aeroports de Montreal Announces its Results for Fiscal 2013

MONTREAL, QUEBEC -- (Marketwired) -- 03/13/14 -- Aeroports de Montreal (ADM) today announced its audited consolidated financial results for the fiscal year ended December 31, 2013. These results are accompanied by data on passenger traffic and aircraft movements at Montreal-Trudeau and Montreal-Mirabel international airports.

Highlights

ADM set a new traffic record in 2013, with a total of 14.1 million passengers transiting through Montreal-Trudeau airport, a 2.1% increase over 2012.

EBITDA (excess of revenues over expenses before financial expenses, income taxes and depreciation) totalled $197.8 million for the fiscal year ended December 31, 2013, an increase of $8.2 million, or 4.3%, over the $189.6 million recorded for the previous year.

The Corporation invested a total of $177.4 million in fiscal 2013, compared with $194.7 million in 2012. Work focused mainly on expansion of the west apron and the international jetty, redevelopment of the domestic and international public departures hall, including the consolidation of the domestic and international security screening checkpoints, and development or redevelopment of the commercial areas inside the terminal. Investments in the airports were financed by cash flows from airport operations, including airport improvement fees (AIFs).

Results

Consolidated revenues amounted to $446.6 million for 2013, an increase of $11.1 million, or 2.6%, over 2012. This improvement is mainly attributable to passenger traffic growth and increased aeronautical fees.

Operating costs (excluding municipal taxes and rent paid to Transport Canada) for the year under review rose by 0.9%, or $1.4 million, to $164.3 million for fiscal 2013 from $162.9 million for the prior year. This variance is due, among other factors, to an increase in certain operating expenses, particularly costs related to winter conditions, and to higher salaries, including pension costs. These adverse impacts were, however, partly offset by the decrease in expenses for professional fees.

Depreciation amounted to $101.5 million in 2013, an increase over the prior year of $3.6 million, or 3.7%. The main reason for this rise was the commissioning of facilities built during 2012 and 2013.

Financial expenses totalled $89.3 million for year under review, up $3.6 million, or 4.2%, from the fiscal 2012. This variance is mainly attributable to the issue in September 2012 of a new series of revenue bonds.

Income taxes recovered totalling $8.2 million arise from the reversal of a tax provision related to a foreign investment held by the subsidiary ADM Capital Inc..

The fiscal year ended December 31, 2013, generated an excess of revenues over expenses of $13.6 million, compared with an excess of $6.9 million for fiscal 2012.

Financial highlights


----------------------------------------------------------------------------
                                              FISCAL YEARS ENDED DECEMBER 31
----------------------------------------------------------------------------
(in millions of dollars)                     2013        2012   Variance (%)
----------------------------------------------------------------------------
Total revenues                              446.6       435.5            2.6
----------------------------------------------------------------------------
Operating costs (excluding PILT)            164.3       162.9            0.9
----------------------------------------------------------------------------
Payments in lieu of municipal taxes
 (PILT)                                      40.5        40.3            0.6
----------------------------------------------------------------------------
Rent paid to Transport Canada                45.6        44.2            3.1
----------------------------------------------------------------------------
Depreciation                                101.5        97.9            3.7
----------------------------------------------------------------------------
Financial expenses                           89.3        85.7            4.2
----------------------------------------------------------------------------
Total expenses                              441.2       431.0            2.4
----------------------------------------------------------------------------
Excess of revenues over expenses -
 before income taxes                          5.4         4.5           20.0
----------------------------------------------------------------------------
Income taxes recovered                        8.2         2.4          240.9
----------------------------------------------------------------------------
Excess of revenues over expenses             13.6         6.9           96.3
----------------------------------------------------------------------------
----------------------------------------------------------------------------
EBITDA                                      197.8       189.6            4.3
----------------------------------------------------------------------------

EBITDA is a financial measurement that is not recognized by IFRS and is therefore unlikely to be comparable to similar measures presented by other corporations. EBITDA is meant to provide additional information and should not be considered as a substitute for other performance measurements prepared in accordance with IFRS. EBITDA is used by management as an indicator to evaluate ongoing operational performance.

EBITDA is defined by the Corporation as excess of revenues over expenses before financial expenses, income taxes and depreciation. Calculation of EBITDA takes into account certain financial expenses included in operating expenses (net of certain interest income included in revenues), which total $1.6 million for fiscal 2013 ($1.5 million in 2012).

Passenger traffic

A total of 14.1 million passengers enplaned/deplaned at Montreal-Trudeau during 2013, an increase of 2.1% over 2012. This performance, slightly better than forecast, is essentially due to the upturn in U.S. (transborder) traffic and the growth in connecting traffic.

International traffic, affected by the situation in Europe, and particularly in France, posted a slim 1.1% increase over 2012, while domestic traffic, reflecting the weak Canadian and Quebec economy, did only slightly better, rising 1.4%. Flights to the United States saved the day, growing by 4.7%, in line with the airlines increased service offering, including to New York City, Washington and the American West.

At year-end, Montreal's traffic broke down as follows: the domestic sector maintained its small lead over international traffic, with 38.4% versus 37.6% of total traffic, while transborder (U.S.) traffic moved up slightly to 24.0% of the total.

Connecting traffic is now estimated to total nearly 16% of total traffic and has been rising steadily since all commercial flights were grouped at Montreal-Trudeau in late 2004.

Table - passenger traffic


----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                             Montreal-Trudeau
                                       2013              2012     Variation
----------------------------------------------------------------------------
----------------------------------------------------------------------------
January                           1,134,558         1,130,813           0.3%
February                          1,072,426         1,092,881          -1.9%
March                             1,284,637         1,256,984           2.2%
----------------------------------------------------------------------------
----------------------------------------------------------------------------
1st quarter                       3,491,621         3,480,678           0.3%
----------------------------------------------------------------------------
----------------------------------------------------------------------------
April                             1,130,416         1,136,248          -0.5%
May                               1,107,695         1,067,885           3.7%
June                              1,216,187         1,196,381           1.7%
----------------------------------------------------------------------------
----------------------------------------------------------------------------
2nd quarter                       3,454,298         3,400,514           1.6%
----------------------------------------------------------------------------
----------------------------------------------------------------------------
July                              1,359,714         1,314,834           3.4%
August                            1,438,453         1,355,657           6.1%
September                         1,168,798         1,157,644           1.0%
----------------------------------------------------------------------------
----------------------------------------------------------------------------
3rd quarter                       3,966,965         3,828,135           3.6%
----------------------------------------------------------------------------
----------------------------------------------------------------------------
October                           1,112,811         1,091,405           2.0%
November                            958,036           940,793           1.8%
December                          1,111,541         1,068,295           4.0%
----------------------------------------------------------------------------
----------------------------------------------------------------------------
4th quarter                       3,182,388         3,100,493           2.1%
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Full year                        14,095 272        13,809,820           2.1%
----------------------------------------------------------------------------
----------------------------------------------------------------------------

(i)Note: Total passenger traffic includes revenue and non-revenue
passengers.
Source: Aeroports de Montreal, preliminary figures

Aircraft movements

There were a total of 234,638 aircraft movements (takeoffs and landings) at Montreal-Trudeau and Montreal-Mirabel airports in 2013, compared with 243,436 in 2012, a decrease due to, among other reasons, the airlines' desire to optimize their load factors.

About ADM

ADM is the local airport authority responsible for the management, operation and development of Montreal-Trudeau and Montreal-Mirabel international airports under a lease signed with Transport Canada in 1992. The Corporation employs 625 people at both airports and at head office. ADM has been ISO 14001 certified since 2000 and BOMA BESt certified since 2008.

For further information on Aeroports de Montreal and its operations, please visit our website at www.admtl.com.

Contacts:
Source:
Christiane Beaulieu
Vice-President, Public Affairs and Communications
514 394-7304

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
As businesses adopt functionalities in cloud computing, it’s imperative that IT operations consistently ensure cloud systems work correctly – all of the time, and to their best capabilities. In his session at @BigDataExpo, Bernd Harzog, CEO and founder of OpsDataStore, presented an industry answer to the common question, “Are you running IT operations as efficiently and as cost effectively as you need to?” He then expounded on the industry issues he frequently came up against as an analyst, and ...
Cloud resources, although available in abundance, are inherently volatile. For transactional computing, like ERP and most enterprise software, this is a challenge as transactional integrity and data fidelity is paramount – making it a challenge to create cloud native applications while relying on RDBMS. In his session at 21st Cloud Expo, Claus Jepsen, Chief Architect and Head of Innovation Labs at Unit4, will explore that in order to create distributed and scalable solutions ensuring high availa...
SYS-CON Events announced today that App2Cloud will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. App2Cloud is an online Platform, specializing in migrating legacy applications to any Cloud Providers (AWS, Azure, Google Cloud).
In his session at @DevOpsSummit at 20th Cloud Expo, Kelly Looney, director of DevOps consulting for Skytap, showed how an incremental approach to introducing containers into complex, distributed applications results in modernization with less risk and more reward. He also shared the story of how Skytap used Docker to get out of the business of managing infrastructure, and into the business of delivering innovation and business value. Attendees learned how up-front planning allows for a clean sep...
IoT is at the core or many Digital Transformation initiatives with the goal of re-inventing a company's business model. We all agree that collecting relevant IoT data will result in massive amounts of data needing to be stored. However, with the rapid development of IoT devices and ongoing business model transformation, we are not able to predict the volume and growth of IoT data. And with the lack of IoT history, traditional methods of IT and infrastructure planning based on the past do not app...
Internet-of-Things discussions can end up either going down the consumer gadget rabbit hole or focused on the sort of data logging that industrial manufacturers have been doing forever. However, in fact, companies today are already using IoT data both to optimize their operational technology and to improve the experience of customer interactions in novel ways. In his session at @ThingsExpo, Gordon Haff, Red Hat Technology Evangelist, shared examples from a wide range of industries – including en...
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. Jack Norris reviews best practices to show how companies develop, deploy, and dynamically update these applications and how this data-first...
In IT, we sometimes coin terms for things before we know exactly what they are and how they’ll be used. The resulting terms may capture a common set of aspirations and goals – as “cloud” did broadly for on-demand, self-service, and flexible computing. But such a term can also lump together diverse and even competing practices, technologies, and priorities to the point where important distinctions are glossed over and lost.
Intelligent Automation is now one of the key business imperatives for CIOs and CISOs impacting all areas of business today. In his session at 21st Cloud Expo, Brian Boeggeman, VP Alliances & Partnerships at Ayehu, will talk about how business value is created and delivered through intelligent automation to today’s enterprises. The open ecosystem platform approach toward Intelligent Automation that Ayehu delivers to the market is core to enabling the creation of the self-driving enterprise.
"At the keynote this morning we spoke about the value proposition of Nutanix, of having a DevOps culture and a mindset, and the business outcomes of achieving agility and scale, which everybody here is trying to accomplish," noted Mark Lavi, DevOps Solution Architect at Nutanix, in this SYS-CON.tv interview at @DevOpsSummit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We're here to tell the world about our cloud-scale infrastructure that we have at Juniper combined with the world-class security that we put into the cloud," explained Lisa Guess, VP of Systems Engineering at Juniper Networks, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Enterprise architects are increasingly adopting multi-cloud strategies as they seek to utilize existing data center assets, leverage the advantages of cloud computing and avoid cloud vendor lock-in. This requires a globally aware traffic management strategy that can monitor infrastructure health across data centers and end-user experience globally, while responding to control changes and system specification at the speed of today’s DevOps teams. In his session at 20th Cloud Expo, Josh Gray, Chie...
"We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Consumers increasingly expect their electronic "things" to be connected to smart phones, tablets and the Internet. When that thing happens to be a medical device, the risks and benefits of connectivity must be carefully weighed. Once the decision is made that connecting the device is beneficial, medical device manufacturers must design their products to maintain patient safety and prevent compromised personal health information in the face of cybersecurity threats. In his session at @ThingsExpo...
In his session at 20th Cloud Expo, Mike Johnston, an infrastructure engineer at Supergiant.io, discussed how to use Kubernetes to set up a SaaS infrastructure for your business. Mike Johnston is an infrastructure engineer at Supergiant.io with over 12 years of experience designing, deploying, and maintaining server and workstation infrastructure at all scales. He has experience with brick and mortar data centers as well as cloud providers like Digital Ocean, Amazon Web Services, and Rackspace. H...