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.


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).


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


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
In the 21st century, security on the Internet has become one of the most important issues. We hear more and more about cyber-attacks on the websites of large corporations, banks and even small businesses. When online we’re concerned not only for our own safety but also our privacy. We have to know that hackers usually start their preparation by investigating the private information of admins – the habits, interests, visited websites and so on. On the other hand, our own security is in danger bec...
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
As companies adopt the cloud-to-streamline workflow, deployment hasn’t been very seamless because of IT concerns surrounding security risks. The cloud offers many benefits, but protecting and securing information can be tricky across multiple cloud providers and remains IT’s overall responsibility. In his session at 19th Cloud Expo, Simon Bain, CEO of SearchYourCloud, will address security compliance issues associated with cloud applications and how document-level encryption is critical for sup...
Successful digital transformation requires new organizational competencies and capabilities. Research tells us that the biggest impediment to successful transformation is human; consequently, the biggest enabler is a properly skilled and empowered workforce. In the digital age, new individual and collective competencies are required. In his session at 19th Cloud Expo, Bob Newhouse, CEO and founder of Agilitiv, will draw together recent research and lessons learned from emerging and established ...
SYS-CON Events announced today that Cemware 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. Use MATLAB functions by just visiting website mathfreeon.com. MATLAB compatible, freely usable, online platform services. As of October 2016, 80,000 users from 180 countries are enjoying our platform service.
SYS-CON Events announced today that MathFreeOn 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. MathFreeOn is Software as a Service (SaaS) used in Engineering and Math education. Write scripts and solve math problems online. MathFreeOn provides online courses for beginners or amateurs who have difficulties in writing scripts. In accordance with various mathematical topics, there are more tha...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
SYS-CON Events announced today that StarNet Communications 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. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
Virgil consists of an open-source encryption library, which implements Cryptographic Message Syntax (CMS) and Elliptic Curve Integrated Encryption Scheme (ECIES) (including RSA schema), a Key Management API, and a cloud-based Key Management Service (Virgil Keys). The Virgil Keys Service consists of a public key service and a private key escrow service. 

In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, will discuss how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team a...
SYS-CON Events announced today that eCube Systems, the leading provider of modern development tools and best practices for Continuous Integration on OpenVMS, will exhibit at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. eCube Systems offers a family of middleware products and development tools that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
Intelligent machines are here. Robots, self-driving cars, drones, bots and many IoT devices are becoming smarter with Machine Learning. In her session at @ThingsExpo, Sudha Jamthe, CEO of IoTDisruptions.com, will discuss the next wave of business disruption at the junction of IoT and AI, impacting many industries and set to change our lives, work and world as we know it.
@ThingsExpo has been named the Top 5 Most Influential Internet of Things Brand by Onalytica in the ‘The Internet of Things Landscape 2015: Top 100 Individuals and Brands.' Onalytica analyzed Twitter conversations around the #IoT debate to uncover the most influential brands and individuals driving the conversation. Onalytica captured data from 56,224 users. The PageRank based methodology they use to extract influencers on a particular topic (tweets mentioning #InternetofThings or #IoT in this ...
Join Impiger for their featured webinar: ‘Cloud Computing: A Roadmap to Modern Software Delivery’ on November 10, 2016, at 12:00 pm CST. Very few companies have not experienced some impact to their IT delivery due to the evolution of cloud computing. This webinar is not about deciding whether you should entertain moving some or all of your IT to the cloud, but rather, a detailed look under the hood to help IT professionals understand how cloud adoption has evolved and what trends will impact th...