Media release for immediate use
Christchurch Airport records half-year profit
Christchurch International Airport Limited (CIAL) has recorded a net profit after tax of $7.4m for the six months ended
31 December 2012.
CIAL Chief Executive Jim Boult says though the net profit after tax is 7.5 per cent down on the previous half year,
earnings before interest costs, tax depreciation and amortisation (“EBITDA”) – the company’s key operational financial
performance measure - at $33.1m, was 5.2% ahead of the same period last year.
Total revenue for the six months to December 2012, at $59.6m, was 7.9% ahead of the same period a year earlier. This was
a result of increased property and commercial revenues, with aeronautical revenue showing minimal growth (0.7%) as
compared to the same period last year, as a result of lower passenger numbers.
“The six months to December 2012 saw fewer passenger movements over the same period last year,” Mr Boult says. “The loss
of a significant portion of Christchurch’s hotel accommodation, the Convention Centre and many sporting facilities
continues to have a significant effect on passenger throughput, particularly for conference activity and for larger tour
groups.”
Total passenger numbers for the period reflect a 2.3% drop on the same period last year. International passenger
movements were 7.9% behind the same period last year, whilst domestic passenger movements were only 0.4% behind last
year.
Non-Aeronautical revenue of $38.8m was $4.2m (12.2%) ahead of last year. This includes a full six months trading for the
International Antarctic Centre, as compared to only one month for the comparative period.
The other main driver for the increase in non-aeronautical revenue was increased property rental income arising from new
developments in Dakota Park and other additions to the overall lease portfolio (e.g. McDonalds).
ENDS