Monday 20 November 2017

DAA reports drop in core profit but 2013 performance strong

John Mulligan

John Mulligan

The Dublin Airport Authority has reported a 7pc decline to €26m in its core business profit for 2013 as its international unit exited retail operations in Russia and Ukraine.

But its underlying performance for the year was solid as passenger numbers in Dublin rose.

Turnover at the group, which includes operations at Dublin and Cork airports as well as international activities, fell 5pc to €501m in 2013. That decline was impacted by the sale of its businesses in Ukraine and Russia. The DAA made an €11m profit on the sale of those units.

But in Ireland, the DAA’s turnover rose 5pc on a like-for-like basis. It’s been helped by an increase in passenger numbers at Dublin Airport, where the figure rose nearly 6pc last year to 20.2m. In Cork, passenger numbers declined 3.5pc to 2.3m.

Group debt levels at the DAA were reduced by €61m, or 9pc, in 2013. The DAA has reduced its net debt by €151m since 2010. Its net debt stood at €614m at the end of 2013.

Passenger numbers at Dublin Airport increased by almost 6pc to 20.2m last year, as 70pc of the airlines operating at Dublin experienced traffic growth.

“Dublin Airport had more than one million extra passengers last year, as all segments of the market expanded,” said DAA chief executive Kevin Toland. “Long-haul traffic was Dublin’s best performer last year, with transatlantic passenger numbers up 13pc to a record 1.9m and traffic to the Middle East also up 13pc, albeit off a much lower base.”

 

 

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