Welcome!

News Feed Item

Aeroports de Montreal Announces its Results for the First Quarter of 2014

MONTREAL, QUEBEC -- (Marketwired) -- 05/01/14 -- Editors Note: A photo for this release will be available on the Canadian Press picture wire via Marketwired.

Aeroports de Montreal (ADM) today announced its consolidated financial results for the first quarter of 2014. These results are accompanied by data on passenger traffic and aircraft movements at Montreal-Trudeau and Montreal- Mirabel international airports.

Highlights

Traffic at Montreal-Trudeau airport increased slightly in the first quarter of 2014 over the same period last year, to 3.5 million passengers enplaned/deplaned.

EBITDA (excess of revenues over expenses before financial expenses, income taxes and depreciation) totalled $46.1 million for the opening quarter of 2014, a decrease of $0.9 million, or 1.9%, from the same period of 2013.

The Corporation invested a total of $26.6 million during the first quarter. Investments in the airports were financed by cash flows from airport operations, including airport improvement fees (AIFs).

Results

Consolidated revenues amounted to $113.9 million for the first quarter of 2014, an increase of $1.2 million, or 1.1%, over the year-ago period. This slight improvement is namely attributable to a rise in revenues generated by our parking facilities as well as to an increase in aeronautical fees.

Operating costs for the quarter under review totalled $46.3 million, up $2.0 million, or 4.5%, over the same period of 2013. This variance is due, among other factors, to an increase in certain operating expenses, particularly for energy, security and professional services, as well as to higher wages. These increases were however partly offset by the reduced use of de-icing products.

Depreciation amounted to $26.2 million for the quarter, an increase over the prior-year period of $1.8 million, or 7.4%. The main reason for this rise was the commissioning of projects completed during 2013.

The quarter ended March 31, 2014, produced a shortfall of revenues over expenses of $3.2 million, compared with an excess of $1.3 million for the corresponding period of 2013.


Financial highlights
----------------------------------------------------------------------------
                                                              First quarter
----------------------------------------------------------------------------
(in millions of dollars)                      2014        2013 Variance (%)
----------------------------------------------------------------------------
Revenues                                     113.9       112.7          1.1
----------------------------------------------------------------------------
Operating costs (excluding PILT)              46.3        44.3          4.5
----------------------------------------------------------------------------
Payments in lieu of municipal taxes
 (PILT)                                       10.5        10.5            -
----------------------------------------------------------------------------
Rent paid to Transport Canada                 11.7        11.4          2.6
----------------------------------------------------------------------------
Depreciation                                  26.2        24.4          7.4
----------------------------------------------------------------------------
Financial expenses                            22.4        21.9          2.3
----------------------------------------------------------------------------
Total expenses                               117.1       112.5          4.1
----------------------------------------------------------------------------
Excess (shortfall) of revenues over
 expenses before income taxes                 (3.2)        0.2     (1,700.0)
----------------------------------------------------------------------------
Income taxes recovered                           -        (1.1)      (100.0)
----------------------------------------------------------------------------
Excess (shortfall) of revenues over
 expenses                                     (3.2)        1.3       (346.2)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
EBITDA                                        46.1        47.0         (1.9)
----------------------------------------------------------------------------

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 $0.7 million for the quarter ($0.5 million for the 2013 quarter).

Passenger traffic

A total of 3.5 million passengers emplaned/deplaned at Montreal-Trudeau airport in the first quarter of 2014, up 0.7% over the same quarter of 2013. The transborder (U.S.) sector posted the strongest growth, at 1.1%, compared with increases of 1.0% and 0.3% respectively for the domestic and international sectors.

Table - passenger traffic (1st quarter)


                                        ------------------------------------
                                                      Aeroports de Montreal
                                        -----------------------------------
                                                2014        2013   Variance
----------------------------------------------------------------------------
January                                    1,168,314   1,134,558        3.0%
----------------------------------------------------------------------------
February                                   1,101,388   1,072,426        2.7%
----------------------------------------------------------------------------
March                                      1,247,115   1,284,637       -2.9%
----------------------------------------------------------------------------
Quarter                                    3,516,817   3,491,621        0.7%
----------------------------------------------------------------------------
Source : Aeroports de Montreal, preliminary figures

Aircraft movements

There were a total of 55,165 aircraft movements at Montreal-Trudeau and Montreal-Mirabel airports during the first quarter of 2014, a drop of 3.2% from the year-ago period. International movements were up by 3.1%, while the transborder and domestic sectors saw respective declines of 3.8% and 5.1%.

About Aeroports de Montreal

Aeroports de Montreal is the local airport authority that has been responsible for the management, operation and development of Montreal-Trudeau and Montreal-Mirabel international airports since 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
Technology vendors and analysts are eager to paint a rosy picture of how wonderful IoT is and why your deployment will be great with the use of their products and services. While it is easy to showcase successful IoT solutions, identifying IoT systems that missed the mark or failed can often provide more in the way of key lessons learned. In his session at @ThingsExpo, Peter Vanderminden, Principal Industry Analyst for IoT & Digital Supply Chain to Flatiron Strategies, will focus on how IoT de...
Ask someone to architect an Internet of Things (IoT) solution and you are guaranteed to see a reference to the cloud. This would lead you to believe that IoT requires the cloud to exist. However, there are many IoT use cases where the cloud is not feasible or desirable. In his session at @ThingsExpo, Dave McCarthy, Director of Products at Bsquare Corporation, will discuss the strategies that exist to extend intelligence directly to IoT devices and sensors, freeing them from the constraints of ...
One of biggest questions about Big Data is “How do we harness all that information for business use quickly and effectively?” Geographic Information Systems (GIS) or spatial technology is about more than making maps, but adding critical context and meaning to data of all types, coming from all different channels – even sensors. In his session at @ThingsExpo, William (Bill) Meehan, director of utility solutions for Esri, will take a closer look at the current state of spatial technology and ar...
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
Complete Internet of Things (IoT) embedded device security is not just about the device but involves the entire product’s identity, data and control integrity, and services traversing the cloud. A device can no longer be looked at as an island; it is a part of a system. In fact, given the cross-domain interactions enabled by IoT it could be a part of many systems. Also, depending on where the device is deployed, for example, in the office building versus a factory floor or oil field, security ha...
SYS-CON Events announced today that Interface Masters Technologies, a leader in Network Visibility and Uptime Solutions, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Interface Masters Technologies is a leading vendor in the network monitoring and high speed networking markets. Based in the heart of Silicon Valley, Interface Masters' expertise lies in Gigabit, 10 Gigabit and 40 Gigabit Eth...
Much of the value of DevOps comes from a (renewed) focus on measurement, sharing, and continuous feedback loops. In increasingly complex DevOps workflows and environments, and especially in larger, regulated, or more crystallized organizations, these core concepts become even more critical. In his session at @DevOpsSummit at 18th Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, showed how, by focusing on 'metrics that matter,' you can provide objective, transparent, and meaningful f...
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
Creating replica copies to tolerate a certain number of failures is easy, but very expensive at cloud-scale. Conventional RAID has lower overhead, but it is limited in the number of failures it can tolerate. And the management is like herding cats (overseeing capacity, rebuilds, migrations, and degraded performance). Download Slide Deck: ▸ Here In his general session at 18th Cloud Expo, Scott Cleland, Senior Director of Product Marketing for the HGST Cloud Infrastructure Business Unit, discusse...
To leverage Continuous Delivery, enterprises must consider impacts that span functional silos, as well as applications that touch older, slower moving components. Managing the many dependencies can cause slowdowns. See how to achieve continuous delivery in the enterprise.
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. Big Data at Cloud Expo - to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is...
Internet of @ThingsExpo has announced today that Chris Matthieu has been named tech chair of Internet of @ThingsExpo 2016 Silicon Valley. The 6thInternet of @ThingsExpo will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
An IoT product’s log files speak volumes about what’s happening with your products in the field, pinpointing current and potential issues, and enabling you to predict failures and save millions of dollars in inventory. But until recently, no one knew how to listen. In his session at @ThingsExpo, Dan Gettens, Chief Research Officer at OnProcess, will discuss recent research by Massachusetts Institute of Technology and OnProcess Technology, where MIT created a new, breakthrough analytics model f...
Most of us already know that adopting new cloud applications can boost a business’s productivity by enabling organizations to be more agile and ready to change course in our fast-moving and connected digital world. But the rapid adoption of cloud apps and services also brings with it profound security threats, including visibility and control challenges that aren’t present in traditional on-premises environments. At the same time, the cloud – because of its interconnected, flexible and adaptable...