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.


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).


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

                                     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


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
SYS-CON Events announced today that Streamlyzer 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. Streamlyzer is a powerful analytics for video streaming service that enables video streaming providers to monitor and analyze QoE (Quality-of-Experience) from end-user devices in real time.
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
@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 ...
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in Embedded and IoT solutions, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 7-9, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and ...
Today every business relies on software to drive the innovation necessary for a competitive edge in the Application Economy. This is why collaboration between development and operations, or DevOps, has become IT’s number one priority. Whether you are in Dev or Ops, understanding how to implement a DevOps strategy can deliver faster development cycles, improved software quality, reduced deployment times and overall better experiences for your customers.
Cloud based infrastructure deployment is becoming more and more appealing to customers, from Fortune 500 companies to SMEs due to its pay-as-you-go model. Enterprise storage vendors are able to reach out to these customers by integrating in cloud based deployments; this needs adaptability and interoperability of the products confirming to cloud standards such as OpenStack, CloudStack, or Azure. As compared to off the shelf commodity storage, enterprise storages by its reliability, high-availabil...
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...
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTrend processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
The IoT industry is now at a crossroads, between the fast-paced innovation of technologies and the pending mass adoption by global enterprises. The complexity of combining rapidly evolving technologies and the need to establish practices for market acceleration pose a strong challenge to global enterprises as well as IoT vendors. In his session at @ThingsExpo, Clark Smith, senior product manager for Numerex, will discuss how Numerex, as an experienced, established IoT provider, has embraced a ...
November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Penta Security is a leading vendor for data security solutions, including its encryption solution, D’Amo. By using FPE technology, D’Amo allows for the implementation of encryption technology to sensitive data fields without modification to schema in the database environment. With businesses having their data become increasingly more complicated in their mission-critical applications (such as ERP, CRM, HRM), continued ...
SYS-CON Events announced today that Cloudbric, a leading website security provider, 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. Cloudbric is an elite full service website protection solution specifically designed for IT novices, entrepreneurs, and small and medium businesses. First launched in 2015, Cloudbric is based on the enterprise level Web Application Firewall by Penta Security Sys...
We are reaching the end of the beginning with WebRTC, and real systems using this technology have begun to appear. One challenge that faces every WebRTC deployment (in some form or another) is identity management. For example, if you have an existing service – possibly built on a variety of different PaaS/SaaS offerings – and you want to add real-time communications you are faced with a challenge relating to user management, authentication, authorization, and validation. Service providers will w...
When people aren’t talking about VMs and containers, they’re talking about serverless architecture. Serverless is about no maintenance. It means you are not worried about low-level infrastructural and operational details. An event-driven serverless platform is a great use case for IoT. In his session at @ThingsExpo, Animesh Singh, an STSM and Lead for IBM Cloud Platform and Infrastructure, will detail how to build a distributed serverless, polyglot, microservices framework using open source tec...
The Open Connectivity Foundation (OCF), sponsor of the IoTivity open source project, and AllSeen Alliance, which provides the AllJoyn® open source IoT framework, today announced that the two organizations’ boards have approved a merger under the OCF name and bylaws. This merger will advance interoperability between connected devices from both groups, enabling the full operating potential of IoT and representing a significant step towards a connected ecosystem.
A completely new computing platform is on the horizon. They’re called Microservers by some, ARM Servers by others, and sometimes even ARM-based Servers. No matter what you call them, Microservers will have a huge impact on the data center and on server computing in general. Although few people are familiar with Microservers today, their impact will be felt very soon. This is a new category of computing platform that is available today and is predicted to have triple-digit growth rates for some ...