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
The essence of data analysis involves setting up data pipelines that consist of several operations that are chained together – starting from data collection, data quality checks, data integration, data analysis and data visualization (including the setting up of interaction paths in that visualization). In our opinion, the challenges stem from the technology diversity at each stage of the data pipeline as well as the lack of process around the analysis.
Many banks and financial institutions are experimenting with containers in development environments, but when will they move into production? Containers are seen as the key to achieving the ultimate in information technology flexibility and agility. Containers work on both public and private clouds, and make it easy to build and deploy applications. The challenge for regulated industries is the cost and complexity of container security compliance. VM security compliance is already challenging, ...
Designing IoT applications is complex, but deploying them in a scalable fashion is even more complex. A scalable, API first IaaS cloud is a good start, but in order to understand the various components specific to deploying IoT applications, one needs to understand the architecture of these applications and figure out how to scale these components independently. In his session at @ThingsExpo, Nara Rajagopalan is CEO of Accelerite, will discuss the fundamental architecture of IoT applications, ...
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management...
SYS-CON Events announced today that Tintri Inc., a leading producer of VM-aware storage (VAS) for virtualization and cloud environments, will exhibit at the 18th International CloudExpo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York and Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty ...
Companies can harness IoT and predictive analytics to sustain business continuity; predict and manage site performance during emergencies; minimize expensive reactive maintenance; and forecast equipment and maintenance budgets and expenditures. Providing cost-effective, uninterrupted service is challenging, particularly for organizations with geographically dispersed operations.
As cloud and storage projections continue to rise, the number of organizations moving to the cloud is escalating and it is clear cloud storage is here to stay. However, is it secure? Data is the lifeblood for government entities, countries, cloud service providers and enterprises alike and losing or exposing that data can have disastrous results. There are new concepts for data storage on the horizon that will deliver secure solutions for storing and moving sensitive data around the world. ...
18th Cloud Expo, taking place June 7-9, 2016, at the Javits Center in New York City, NY, 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 enterprises are using some...
SYS-CON Events announced today that AppNeta, the leader in performance insight for business-critical web applications, will exhibit and present 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. AppNeta is the only application performance monitoring (APM) company to provide solutions for all applications – applications you develop internally, business-critical SaaS applications you use and the networks that deli...
SYS-CON Events announced today that MangoApps will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device. For more information, please visit https://www.mangoapps.com/.
SoftLayer operates a global cloud infrastructure platform built for Internet scale. With a global footprint of data centers and network points of presence, SoftLayer provides infrastructure as a service to leading-edge customers ranging from Web startups to global enterprises. SoftLayer's modular architecture, full-featured API, and sophisticated automation provide unparalleled performance and control. Its flexible unified platform seamlessly spans physical and virtual devices linked via a world...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, will provide an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life ...
In his session at 18th Cloud Expo, Bruce Swann, Senior Product Marketing Manager at Adobe, will discuss how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects). Bruce Swann has more than 15 years of experience working with digital marketing disciplines like web analytics, social med...
Join us at Cloud Expo | @ThingsExpo 2016 – June 7-9 at the Javits Center in New York City and November 1-3 at the Santa Clara Convention Center in Santa Clara, CA – and deliver your unique message in a way that is striking and unforgettable by taking advantage of SYS-CON's unmatched high-impact, result-driven event / media packages.