Recommended Posts

Aeroports de Montreal Releases its Fiscal 2006 Results - Passenger traffic up by 5.0%

 

- Revenues increase by 12.5%

 

- EBITDA rises by 13.0% MONTREAL, QUEBEC--(CCNMatthews - March 7, 2007) - Aeroports de Montreal today announced its audited consolidated financial results for the fiscal year ended December 31, 2006. These results are accompanied by data on passenger traffic and aircraft movements at Montreal-Trudeau and Montreal-Mirabel international airports.

 

Highlights

 

EBITDA (excess of revenues over expenses before interest, income taxes, amortization and share in the net gain of investments at equity value) totalled $117.1 million for the year, an increase of $13.5 million, or 13.0%, over fiscal 2005.

 

During fiscal 2006, the Corporation continued work on its various capital investment programs, mainly at Montreal-Trudeau. Work focused on modernization of the domestic jetty and expansion of the domestic arrivals hall, among other areas. In addition, excavation and foundation work progressed for the future transborder departures area and the hotel.

 

The Corporation invested a total of $83.0 million during fiscal 2006, compared to $192.5 million in 2005. Investments in the airports are financed by cash flows from airport operations, including airport improvement fees ($46.7 million), and by long-term debt ($36.3 million).

 

In early October, the International Centre for Settlement of Investment Disputes (ICSID) rendered its decision in the case of the illegal expropriation of Budapest-Ferihegy International Airport on January 1, 2002. The Hungarian government complied with the verdict and paid the agreed amount of $97.7 million Cdn ($83.8 million US). In accordance with existing agreements, Aeroports de Montreal's subsidiary is entitled to 55% of this amount, or $53.7 million Cdn ($46.1 million US). The related accounting gain is reflected in the share in the net gain of investments at equity value, which totals $36.6 million Cdn.

 

Results

 

Consolidated revenues were $285.2 million for fiscal 2006, an increase of $31.8 million, or 12.5%, over the previous year. Aeronautical and commercial revenues were the main contributors to this increase.

 

Operating costs (excluding municipal taxes) were $105.7 million for the year, up $7.6 million or 7.7%, from 2005. This variance is partly due to the normal increase in operating costs following the June 2005 start-up of the new international jetty at Montreal-Trudeau.

 

Municipal taxes were up by 9.6% for the year under review, rising to $34.1 million in fiscal 2006 from $31.1 million in 2005. This increase is attributable to Montreal-Trudeau's higher property valuation following the start-up of the new facilities that are part of the airport expansion program. ADM is the most taxed Canadian airport authority, paying up to four times more per passenger than the other major Canadian airports.

 

Like many other companies, ADM considers EBITDA to be the best indicator for judging the Corporation's ability to meet its financial obligations. EBITDA was $117.1 million for the year under review, against $103.6 million for 2005, an increase of $13.5 million, or 13.0%.

 

Amortization was $72.1 million in 2006, representing an increase of $7.0 million, or 10.8%, over the prior year. This increase is mainly due to the start-up of several new facilities at Montreal-Trudeau, including the international jetty (June 2005), the public international arrivals hall (December 2005) and the new multi-level parking lot (February 2006).

 

Interest on long-term bonds totalled $68.9 million for the period under review, up $18.0 million, or 35.4%, over fiscal 2005. This variance is attributable to a decrease in the amount of capitalized interest on construction in progress, as well as the issuance of a new series of revenue bonds in September 2005.

 

The Corporation reported an excess of revenues over expenses of $19.2 million for the fiscal year ended December 31, 2006, compared with a shortfall of $14.2 million for the prior year, an improvement of $33.4 million. This variance is mainly due to the increase in the share of earnings of Aeroports de Montreal's subsidiary (including the accounting gain resulting from the compensation awarded for the expropriation of Budapest-Ferihegy International Airport) and the higher EBITDA, all of which was offset by the increased financing expenses and amortization.

 

 

 

Financial highlights:

 

For the year ended December 31:

 

-------------------------------------------------------------------

(in millions of dollars) 2006 2005 Variance

(%)

-------------------------------------------------------------------

Revenues 285.2 253.4 12.5

-------------------------------------------------------------------

Operating costs (excluding municipal

taxes) 105.7 98.1 7.7

Municipal taxes 34.1 31.1 9.6

Rent paid to Transport Canada 21.8 20.8 4.8

Amortization 72.1 65.1 10.8

Interest on long-term bonds 68.9 50.9 35.4

-------------------------------------------------------------------

Total expenses 302.6 266.0 13.8

-------------------------------------------------------------------

Shortfall of revenues over expenses

(before share of investments at

equity value) (17.4) (12.6) 38.1

-------------------------------------------------------------------

-------------------------------------------------------------------

Share in the net gain (loss) of

investments at equity value 36.6 (1.6) 2,387.5

-------------------------------------------------------------------

Excess (shortfall) of revenues over

expenses 19.2 (14.2) 235.2

-------------------------------------------------------------------

-------------------------------------------------------------------

Cash flows from operating activities

(before changes in non-cash working

capital items) 46.7 49.4 (5.5)

-------------------------------------------------------------------

EBITDA 117.1 103.6 13.0

-------------------------------------------------------------------

 

 

 

Passenger traffic

 

Passenger traffic at Montreal-Trudeau increased by 5.0% in 2006, to a

new record of 11.4 million passengers enplaned/deplaned. International

traffic showed the greatest increase at 6.9%, compared with 4.7% and 3.2%

for the domestic and transborder sectors respectively.

 

Passenger traffic

 

----------------------------------------------------------------

----------------------------------------------------------------

Aeroports de Montreal

2006 2005 Variance

(%)

----------------------------------------------------------------

----------------------------------------------------------------

January 903,352 895,265 0.9

February 870,153 854,276 1.9

March 997,014 930,222 7.2

----------------------------------------------------------------

----------------------------------------------------------------

1st quarter 2,770,519 2,679,763 3.4

----------------------------------------------------------------

----------------------------------------------------------------

April 916,582 860,345 6.5

May 938,606 866,926 8.3

June 999,814 957,146 4.5

----------------------------------------------------------------

----------------------------------------------------------------

2nd quarter 2,855,002 2,684,417 6.4

----------------------------------------------------------------

----------------------------------------------------------------

July 1,054,221 1,042,952 1.1

August 1,091,206 1,054,465 3.5

September 976,930 952,257 2.6

----------------------------------------------------------------

----------------------------------------------------------------

3rd quarter 3,122,357 3,049,674 2.4

----------------------------------------------------------------

----------------------------------------------------------------

October 940,368 905,132 3.9

November 824,452 756,767 8.9

December 921,372 817,025 12.8

----------------------------------------------------------------

----------------------------------------------------------------

4th quarter 2,686,192 2,478,924 8.4

----------------------------------------------------------------

----------------------------------------------------------------

Entire year 11,434,070 10,892,778 5.0

----------------------------------------------------------------

----------------------------------------------------------------

 

Source: Aeroports de Montreal, preliminary figures

 

 

 

Aircraft movements

 

There were a total of 235,393 aircraft movements at Aeroports de Montreal

in fiscal 2006, representing a 1.5% increase over 2005. Aircraft movements

at Montreal-Trudeau rose by 2.5%, to 213,468, while those at Montreal-

Mirabel dropped by 7.3%, to 21,925.

 

Aircraft movements

 

-------------------------------------------------------------------

2006 2005 Variance

(%)

-------------------------------------------------------------------

Montreal-Trudeau 213,468 208,342 2.5

-------------------------------------------------------------------

Montreal-Mirabel 21,925 23,640 (7.3)

-------------------------------------------------------------------

Aeroports de Montreal 235,393 231,982 1.5

-------------------------------------------------------------------

 

Source: Aeroports de Montreal, preliminary figures

Share this post


Link to post
Share on other sites

YUL should NOT be paying such high taxes. A city's airport is its connection to the world! By taxing our airports so heavily, we are only limiting the flow of people in and out of the city. Hopefully there will be some tax cuts in this week's budget...

Share this post


Link to post
Share on other sites

if YUL keeps the same growing rate, we will pass the 12 millions pax number next year

Share this post


Link to post
Share on other sites

The federal govt is not helping at all, with all the taxes imposed to travelers. With the huge surpluses, its not fair.

Share this post


Link to post
Share on other sites
The federal govt is not helping at all, with all the taxes imposed to travelers. With the huge surpluses, its not fair.

 

at least all airports have the same burden it's not like an airport was prioritized over another, Pearson is in an even worse situation, huge land taxe + massive debt because of the new terminal construction

Share this post


Link to post
Share on other sites
The federal govt is not helping at all, with all the taxes imposed to travelers. With the huge surpluses, its not fair.

 

Got to love our backwards Gov't lol

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Similar Content

    • By mtlurb
      Prolongement de la ligne bleue vers l'est

      Prolongement de la ligne bleue vers l'est. La mise en chantier est prévue en 2022, pour une livraison en 2026. Connexion avec le SRB Pie-IX, stationnement de 1200 places aux Galeries d'Anjou. Coût évalué à 3.9 milliards de dollars.
      Le projet en chiffres 
      5 nouvelles stations de métro accessibles, pour une longueur de tunnel de 5,8 km 2 terminus d’autobus et 1 stationnement incitatif de 1 200 places 1 tunnel piétonnier souterrain assurant le lien avec le futur SRB Pie-IX Plusieurs infrastructures opérationnelles : 6 structures auxiliaires renfermant des équipements nécessaires à l’exploitation, 1 poste de district, 1 garage de métro, 1 centre d’attachement hébergeant des véhicules d’entretien des voies et 1 centre de service pour l’entretien des infrastructures Budget estimé de 3,9 G$ Échéancier préliminaire
      Début 2019 : début de la conception des plans et devis.  Printemps 2019 : approbation du mode de réalisation, du plan budgétaire et de l’envergure du projet. Fin 2019 : début de travaux préparatoires sur certains sites. Début 2020 : démarrage des processus de changement de zonage et de consultations publiques.   2021 : dépôt du dossier d’affaires, lancement de la construction des nouvelles infrastructures. 2026 : inauguration du nouveau tronçon. Information : http://www.stm.info/fr/a-propos/grands-projets/grands-projets-metro/prolongement-ligne-bleue
      Consultations publiques : http://www.stm.info/fr/consultations/prolongement-de-la-ligne-bleue
        
       
    • By SkahHigh
      Fil de discussion sur les travaux du tunnel Mont-Royal dans le cadre du REM.

    • By ScarletCoral
      Discussion générale sur l'illumination des édifices et infrastructures de Montréal 
      En passant, Montréal n'a pas de plan lumière à l'exception du Quartier des spectacles et du Vieux-Montréal

      Voir ici un reportage au Téléjournal 18h  de Nabi-Alexandre Chartier (Ça fait toujours drôle de voir à Radio-Canada depuis ses débuts à Musique Plus!!)
       
       
    • By ScarletCoral
      Valérie Mahaut et son équipe de l'Université de Montréal ont recensé tous les anciens cours d'eau et plans d 'eau de l'île de Montréal. 
      On peut consulter les cartes ici : https://papyrus.bib.umontreal.ca/xmlui/handle/1866/16311 

      Très intéressant pour expliquer pourquoi les fondations de certains projets prennent du temps à construire.
    • By IluvMTL
      https://ici.radio-canada.ca/nouvelle/1136958/parc-automobile-agglomeration-voitures-vehicules?fbclid=IwAR1o1mYJdYbsfGoomVM14xorfEMiTzviEr1O11iNk3Oa5hTX4A43c05_w98
      En route vers le million de véhicules immatriculés sur l'île de Montréal
      Publié aujourd'hui à 11 h 53Mis à jour à 12 h 24 Congestion routière sur le pont Jacques-Cartier, à l'heure de pointe matinale à Montréal. Photo : Radio-Canada/Simon-Marc Charron
        L'île de Montréal comptera bientôt plus d'un million de voitures, à en croire les plus récentes statistiques de la Société de l'assurance automobile du Québec (SAAQ).
      Un texte de Jérôme Labbé
      Les chiffres relayés lundi par le bulletin Montréal en statistiques indiquent que le parc automobile de la métropole continue de croître, et non l'inverse.
      Ainsi, l'île de Montréal comptait 968 466 véhicules immatriculés en 2017, en hausse de 1,64 % par rapport à 2016. C'est la plus forte augmentation enregistrée depuis 2004, alors que le même territoire comptait 115 000 véhicules en moins.
      Depuis 13 ans, près de 9000 véhicules s'ajoutent au parc automobile montréalais chaque année, calcule la SAAQ.
      Cette hausse provient surtout des véhicules de promenade. Car si le nombre d'automobiles décroît un peu chaque année depuis le début des années 2010, celui des camions légers – une catégorie qui englobe notamment les véhicules utilitaires sport (VUS) – a plus que doublé depuis 2004.
      En fait, il y a maintenant un camion léger pour deux automobiles à Montréal.
      Quant aux véhicules institutionnels, professionnels ou commerciaux, ils connaissent sensiblement le même phénomène – réduction des automobiles et augmentation des camions légers – avec comme résultat un nombre total relativement stable, autour de 150 000.
      À noter que le nombre de taxis, lui, a légèrement diminué au fil des ans, passant de 3489 en 2004 à 3190 l'an dernier.
      La faute à la croissance
      La SAAQ remarque que la fluctuation du prix de l'essence influence généralement le nombre de véhicules immatriculés à Montréal : plus les prix à la pompe augmentent, plus la croissance du parc automobile ralentit.
      « Par contre, après 2016, la conjoncture économique favorable à Montréal fait en sorte que même avec une hausse des prix de l'essence, peu d'impacts sont ressentis sur l'achat de véhicules », observe-t-elle.
      Et la croissance démographique n'explique pas à elle seule la croissance du parc automobile, puisque le nombre de véhicules de promenade par habitant a augmenté, passant de 0,365 à 0,392 entre 2004 et 2017.
      Enfin, la Société affirme que 5323 véhicules électriques étaient enregistrés sur l'île de Montréal en septembre dernier, alors qu'elle n'en comptait que 652 en août 2004.
      Ces nouvelles données sont publiées alors que le conseil municipal de Montréal, à l'instar de la Communauté métropolitaine, a adopté lundi une « déclaration citoyenne universelle d'urgence climatique » sur la nécessité de réduire rapidement les émissions de gaz à effet de serre.
      Avec la collaboration de Benoît Chapdelaine