Sydney Airport: Result 2013

A rise in international traffic, particularly to and from Asia, has helped Sydney Airport deliver another solid result.

An increase in international passengers has helped Sydney Airport achieve a solid full-year result, with revenue up 7% at $1.1bn. Earnings before interest, tax, depreciation and amortisation (EBITDA) was also 7% higher at $910m, while net operating receipts increased 14% to $445m, including $15m received from the sale of stakes in Bristol and Newcastle airports. Distributions for the year increased 7% to 22.5 cents (unfranked), for a current yield of 5.6%.

Aeronautical revenue, which accounts for 49% of the total, rose 7% to $548m primarily due to a 2.6% increase in passenger numbers. Sluggish growth in domestic passengers of only 1.1% was offset by a 4.1% increase in international passengers.


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