SYS-CON MEDIA Authors: Pat Romanski, Elizabeth White, Yeshim Deniz, Nikita Ivanov, Sean Houghton

News Feed Item

Aeroports de Montreal Announces its Results for the First Quarter of 2014

MONTREAL, QUEBEC -- (Marketwired) -- 05/01/14 --

Editors Note: A photo for this release will be available on the Canadian Press picture wire via Marketwired.

Aeroports de Montreal (ADM) today announced its consolidated financial results for the first quarter of 2014. These results are accompanied by data on passenger traffic and aircraft movements at Montreal-Trudeau and Montreal- Mirabel international airports.

Highlights

Traffic at Montreal-Trudeau airport increased slightly in the first quarter of 2014 over the same period last year, to 3.5 million passengers enplaned/deplaned.

EBITDA (excess of revenues over expenses before financial expenses, income taxes and depreciation) totalled $46.1 million for the opening quarter of 2014, a decrease of $0.9 million, or 1.9%, from the same period of 2013.

The Corporation invested a total of $26.6 million during the first quarter. Investments in the airports were financed by cash flows from airport operations, including airport improvement fees (AIFs).

Results

Consolidated revenues amounted to $113.9 million for the first quarter of 2014, an increase of $1.2 million, or 1.1%, over the year-ago period. This slight improvement is namely attributable to a rise in revenues generated by our parking facilities as well as to an increase in aeronautical fees.

Operating costs for the quarter under review totalled $46.3 million, up $2.0 million, or 4.5%, over the same period of 2013. This variance is due, among other factors, to an increase in certain operating expenses, particularly for energy, security and professional services, as well as to higher wages. These increases were however partly offset by the reduced use of de-icing products.

Depreciation amounted to $26.2 million for the quarter, an increase over the prior-year period of $1.8 million, or 7.4%. The main reason for this rise was the commissioning of projects completed during 2013.

The quarter ended March 31, 2014, produced a shortfall of revenues over expenses of $3.2 million, compared with an excess of $1.3 million for the corresponding period of 2013.


Financial highlights                                                        
----------------------------------------------------------------------------
                                                              First quarter 
----------------------------------------------------------------------------
(in millions of dollars)                      2014        2013 Variance (%) 
----------------------------------------------------------------------------
Revenues                                     113.9       112.7          1.1 
----------------------------------------------------------------------------
Operating costs (excluding PILT)              46.3        44.3          4.5 
----------------------------------------------------------------------------
Payments in lieu of municipal taxes                                         
 (PILT)                                       10.5        10.5            - 
----------------------------------------------------------------------------
Rent paid to Transport Canada                 11.7        11.4          2.6 
----------------------------------------------------------------------------
Depreciation                                  26.2        24.4          7.4 
----------------------------------------------------------------------------
Financial expenses                            22.4        21.9          2.3 
----------------------------------------------------------------------------
Total expenses                               117.1       112.5          4.1 
----------------------------------------------------------------------------
Excess (shortfall) of revenues over                                         
 expenses before income taxes                 (3.2)        0.2     (1,700.0)
----------------------------------------------------------------------------
Income taxes recovered                           -        (1.1)      (100.0)
----------------------------------------------------------------------------
Excess (shortfall) of revenues over                                         
 expenses                                     (3.2)        1.3       (346.2)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
EBITDA                                        46.1        47.0         (1.9)
----------------------------------------------------------------------------

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 expenses (net of certain interest income included in revenues), which total $0.7 million for the quarter ($0.5 million for the 2013 quarter).

Passenger traffic

A total of 3.5 million passengers emplaned/deplaned at Montreal-Trudeau airport in the first quarter of 2014, up 0.7% over the same quarter of 2013. The transborder (U.S.) sector posted the strongest growth, at 1.1%, compared with increases of 1.0% and 0.3% respectively for the domestic and international sectors.

Table - passenger traffic (1st quarter)


                                        ------------------------------------
                                                      Aeroports de Montreal 
                                        ----------------------------------- 
                                                2014        2013   Variance 
----------------------------------------------------------------------------
January                                    1,168,314   1,134,558        3.0%
----------------------------------------------------------------------------
February                                   1,101,388   1,072,426        2.7%
----------------------------------------------------------------------------
March                                      1,247,115   1,284,637       -2.9%
----------------------------------------------------------------------------
Quarter                                    3,516,817   3,491,621        0.7%
----------------------------------------------------------------------------
Source : Aeroports de Montreal, preliminary figures                         

Aircraft movements

There were a total of 55,165 aircraft movements at Montreal-Trudeau and Montreal-Mirabel airports during the first quarter of 2014, a drop of 3.2% from the year-ago period. International movements were up by 3.1%, while the transborder and domestic sectors saw respective declines of 3.8% and 5.1%.

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:
Source: 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 Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, discussed how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will need to convince a skeptical public to participate. Get ready to show them the money!
There's Big Data, then there's really Big Data from the Internet of Things. IoT is evolving to include many data possibilities like new types of event, log and network data. The volumes are enormous, generating tens of billions of logs per day, which raise data challenges. Early IoT deployments are relying heavily on both the cloud and managed service providers to navigate these challenges. In her session at Big Data Expo®, Hannah Smalltree, Director at Treasure Data, discussed how IoT, Big D...
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
In her General Session at 15th Cloud Expo, Anne Plese, Senior Consultant, Cloud Product Marketing, at Verizon Enterprise, focused on finding the right mix of renting vs. buying Oracle capacity to scale to meet business demands, and offer validated Oracle database TCO models for Oracle development and testing environments. Anne Plese is a marketing and technology enthusiast/realist with over 19+ years in high tech. At Verizon Enterprise, she focuses on driving growth for the Verizon Cloud platfo...
The Internet of Things will put IT to its ultimate test by creating infinite new opportunities to digitize products and services, generate and analyze new data to improve customer satisfaction, and discover new ways to gain a competitive advantage across nearly every industry. In order to help corporate business units to capitalize on the rapidly evolving IoT opportunities, IT must stand up to a new set of challenges. In his session at @ThingsExpo, Jeff Kaplan, Managing Director of THINKstrateg...
SYS-CON Events announced today Isomorphic Software, the global leader in high-end, web-based business applications, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Isomorphic Software is the global leader in high-end, web-based business applications. We develop, market, and support the SmartClient & Smart GWT HTML5/Ajax platform, combining the productivity and performance of traditional desktop software ...
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, discussed single-value, geo-spatial, and log time series dat...
DevOps Summit 2015 New York, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete...
SYS-CON Events announced today that Gridstore™, the leader in hyper-converged infrastructure purpose-built to optimize Microsoft workloads, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Gridstore™ is the leader in hyper-converged infrastructure purpose-built for Microsoft workloads and designed to accelerate applications in virtualized environments. Gridstore’s hyper-converged infrastructure is the ...
The 4th International DevOps Summit, co-located with16th International Cloud Expo – being held June 9-11, 2015, at the Javits Center in New York City, NY – announces that its Call for Papers is now open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's large...
The Internet of Things promises to transform businesses (and lives), but navigating the business and technical path to success can be difficult to understand. In his session at @ThingsExpo, Sean Lorenz, Technical Product Manager for Xively at LogMeIn, demonstrated how to approach creating broadly successful connected customer solutions using real world business transformation studies including New England BioLabs and more.
WebRTC defines no default signaling protocol, causing fragmentation between WebRTC silos. SIP and XMPP provide possibilities, but come with considerable complexity and are not designed for use in a web environment. In his session at @ThingsExpo, Matthew Hodgson, technical co-founder of the Matrix.org, discussed how Matrix is a new non-profit Open Source Project that defines both a new HTTP-based standard for VoIP & IM signaling and provides reference implementations.
DevOps Summit 2015 New York, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete...
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 Internet of @ThingsExpo, James Kirkland, Chief Ar...
"SAP had made a big transition into the cloud as we believe it has significant value for our customers, drives innovation and is easy to consume. When you look at the SAP portfolio, SAP HANA is the underlying platform and it powers all of our platforms and all of our analytics," explained Thorsten Leiduck, VP ISVs & Digital Commerce at SAP, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.