Click here to close now.




















Welcome!

News Feed Item

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

MONTREAL, QUEBEC -- (Marketwired) -- 07/31/14 -- Aeroports de Montreal (ADM) today announced its consolidated financial results for the three- and six-month periods ended June 30, 2014. These results are accompanied by data on passenger traffic and aircraft movements at Montreal-Trudeau and Montreal-Mirabel international airports.

Highlights

Passenger traffic increased by 5.3% for the second quarter and by 3.0% for the half-year ended June 30, 2014, compared with the corresponding year-earlier periods.

EBITDA (excess of revenues over expenses before financial expenses, income taxes and depreciation) totalled $53.3 million for the second quarter of 2014, up $2.8 million, or 5.5%, over the same period of 2013. For the half-year ended June 30, EBITDA stood at $99.4 million, up $1.9 million, or 1.9%, over the corresponding six months a year ago.

The Corporation's capital investments totalled $36.0 million during the second quarter of 2014 and $62.6 million for the half-year. Work focused mainly on expansion of the international jetty. Investments in the airports are financed by cash flows from airport operations, including airport improvement fees (AIFs).

Results

Consolidated revenues amounted to $112.8 million for the second quarter of 2014, an increase of $4.7 million, or 4.3%, over the same period of 2013. Accumulated revenues as at June 30, 2014, rose by $5.9 million, or 2.7%, to $226.7 million for the first six months of 2014, compared with $220.8 million for the same period of 2013. This growth is attributable to the rise in passenger traffic, higher revenues from parking facilities as well as the annual increase in aeronautical fees.

Operating costs for the quarter under review totalled $38.5 million, up $0.9 million, or 2.4%, from the corresponding period of the previous year. Operating costs for the six months ended June 30, 2014, climbed by 3.4%, reaching $84.8 million in 2014, against $82.0 million for the first half of 2013. This variance is due, among other factors, to the rise in certain operating expenses, particularly energy costs, as well as statutory salary increases. These increases were however offset by the reduced use of de-icing products and AIF collection costs.

Depreciation amounted to $26.3 million for the second quarter, up $1.6 million, or 6.5%, over the same year-ago quarter. For the six months ended June 30, 2014, depreciation totalled $52.5 million, up $3.4 million, or 6.8%, from the corresponding half-year of 2013. The main reason for this rise was the commissioning of projects completed in 2013.

The quarter ended June 30, 2014, generated an excess of revenues over expenses of $4.0 million, compared with an excess of $3.2 million for the same quarter of 2013. The excess of revenues over expenses for the half-year ended June 30, 2014, was $0.8 million, against an excess of $4.4 million for the corresponding year-ago period.

Financial highlights


----------------------------------------------------------------------------
                                                                 Cumulative
                                     Second quarter           as at June 30
----------------------------------------------------------------------------
                                           Variance                Variance
(in millions of dollars)     2014    2013       (%)   2014    2013      (%)
----------------------------------------------------------------------------
Revenues                    112.8   108.1       4.3  226.7   220.8      2.7
----------------------------------------------------------------------------
Operating costs (excluding
 PILT)                       38.5    37.6       2.4   84.8    82.0      3.4
----------------------------------------------------------------------------
Payments in lieu of
 municipal taxes (PILT)       9.9     9.3       6.5   20.4    19.8      3.1
----------------------------------------------------------------------------
Rent paid to Transport
 Canada                      11.5    11.0       4.5   23.2    22.4      3.4
----------------------------------------------------------------------------
Depreciation                 26.3    24.7       6.5   52.5    49.1      6.8
----------------------------------------------------------------------------
Financial expenses           22.6    22.3       1.3   45.0    44.2      1.8
----------------------------------------------------------------------------
Total expenses              108.8   104.9       3.7  225.9   217.5      3.8
----------------------------------------------------------------------------
Excess of revenues over
 expenses before income
 taxes                        4.0     3.2      25.0    0.8     3.3    (76.9)
----------------------------------------------------------------------------
Income taxes recovered          -       -         -      -     1.1   (100.0)
----------------------------------------------------------------------------
Excess of revenues over
 expenses                     4.0     3.2      25.0    0.8     4.4    (82.4)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
EBITDA                       53.3    50.5       5.5   99.4    97.5      1.9
----------------------------------------------------------------------------
EBITDA (excluding rent
 paid to Transport Canada)
 as a % of revenues          57.4%   56.9%      0.5   54.1%   54.3%    (0.2)
----------------------------------------------------------------------------

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 costs (net of certain interest income included in revenues), which total $0.4 million for the second quarter ($0.3 million in 2013) and $1.1 million for the half-year ($0.9 million in 2013).

Passenger traffic

Traffic at Montreal-Trudeau rose by 5.3% during the second quarter of 2014, to 3.6 million passengers, with all sectors showing increases. Domestic traffic was up by 5.9%, the transborder sector by 5.4% and international traffic by 4.5% compared to the same quarter a year ago. For the first six months of the year, traffic at Montreal-Trudeau totalled 7.2 million passengers, an increase of 3.0% compared with the first half of 2013.

Total passenger traffic(i)


----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                      Aeroports de Montreal
                                   2014                2013        Variance
----------------------------------------------------------------------------
----------------------------------------------------------------------------
January                       1,170,507           1,134,558             3.2%
February                      1,101,256           1,072,426             2.7%
March                         1,249,075           1,284,637            -2.8%
----------------------------------------------------------------------------
1st quarter                   3,520,838           3,491,621             0.8%
----------------------------------------------------------------------------
April                         1,167,066           1,130,416             3.2%
May                           1,173,854           1,107,695             6.0%
June                          1,295 651           1,216,187             6.5%
----------------------------------------------------------------------------
2nd quarter                   3,636 571           3,454,298             5.3%
----------------------------------------------------------------------------
Total as at June 30           7,157 409           6,945,919             3.0%
----------------------------------------------------------------------------

(i)Note: Total passenger traffic includes revenue and non-revenue passengers.

Source: Aeroports de Montreal, preliminary figures

Aircraft movements

Aircraft movements at both ADM airports decreased by 2.3% overall in the second quarter of 2014, to 58,266 movements, compared with 59,613 for the same period a year earlier. There were 113,431 movements recorded during the first six months of 2014, against 116,861 for the corresponding year- ago period, a drop of 2.9%.

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:
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
Palerra, the cloud security automation company, announced enhanced support for Amazon AWS, allowing IT security and DevOps teams to automate activity and configuration monitoring, anomaly detection, and orchestrated remediation, thereby meeting compliance mandates within complex infrastructure deployments. "Monitoring and threat detection for AWS is a non-trivial task. While Amazon's flexible environment facilitates successful DevOps implementations, it adds another layer, which can become a ...
The speed of software changes in growing and large scale rapid-paced DevOps environments presents a challenge for continuous testing. Many organizations struggle to get this right. Practices that work for small scale continuous testing may not be sufficient as the requirements grow. In his session at DevOps Summit, Marc Hornbeek, Sr. Solutions Architect of DevOps continuous test solutions at Spirent Communications, explained the best practices of continuous testing at high scale, which is rele...
"We got started as search consultants. On the services side of the business we have help organizations save time and save money when they hit issues that everyone more or less hits when their data grows," noted Otis Gospodnetić, Founder of Sematext, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Opening Keynote at 16th Cloud Expo, S...
With SaaS use rampant across organizations, how can IT departments track company data and maintain security? More and more departments are commissioning their own solutions and bypassing IT. A cloud environment is amorphous and powerful, allowing you to set up solutions for all of your user needs: document sharing and collaboration, mobile access, e-mail, even industry-specific applications. In his session at 16th Cloud Expo, Shawn Mills, President and a founder of Green House Data, discussed h...
Delphix, the market leader in Data as a Service (DaaS), has been announced winner of the DevOps Solution Award at the prestigious Computing Vendor Excellence Awards in London. The awards celebrate the achievements of the technology vendors and service providers that are leading the field of enterprise IT. Delphix was recognised as the vendor demonstrating the most effective support of DevOps culture for its ability to improve time to market and collaboration between teams.
"Our biggest growth area has been the security services, the managed services - the things that differentiate us in the market that there is no client that's too small and there's no client that's too big," explained Paul Mazzucco, Chief Security Officer at TierPoint, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
The Cloud industry has moved from being more than just being able to provide infrastructure and management services on the Cloud. Enter a new era of Cloud computing where monetization’s services through the Cloud are an essential piece of strategy to feed your organizations bottom-line, your revenue and Profitability. In their session at 16th Cloud Expo, Ermanno Bonifazi, CEO & Founder of Solgenia, and Ian Khan, Global Strategic Positioning & Brand Manager at Solgenia, discussed how to easily o...
"We've just seen a huge influx of new partners coming into our ecosystem, and partners building unique offerings on top of our API set," explained Seth Bostock, Chief Executive Officer at IndependenceIT, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Arch...
Sysdig has announced two significant milestones in its mission to bring infrastructure and application monitoring to the world of containers and microservices: a $10.7 million Series A funding led by Accel and Bain Capital Ventures (BCV); and the general availability of Sysdig Cloud, the first monitoring, alerting, and troubleshooting platform specializing in container visibility, which is already used by more than 30 enterprise customers. The funding will be used to drive adoption of Sysdig Clo...
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists addressed this very serious issue of pro...
"We do data integration for B2B also application to application, and we do data management and enable Big Data," explained Pat Adamiak, Vice President, Product Marketing at Liaison Technologies, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
"We specialize in testing. DevOps is all about continuous delivery and accelerating the delivery pipeline and there is no continuous delivery without testing," noted Marc Hornbeek, Sr. Solutions Architect at Spirent Communications, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.