Sydney airport’s EBITDA up 7.4% in 2012

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Sydney airport has posted a 7.4% year-on-year increase in earnings before interest, tax, depreciation and amortisation (EBITDA) to A$848 million ($872 million) for 2012.

For the year to 31 December, net profit amounted to A$179 million, up by 47.4% from 2011.

Revenue rose by 6.9% to A$1.04 billion, while total operating costs before specific expenses increased by 4.6% to A$186 million.

The airport's capital expenditure in 2012 amounted to A$215 million. The airport expects to spend A$230 million annually for 2013-2015.

In 2012, new low-cost carriers Scoot and AirAsia X started daily operations to the airport, increasing international seat capacity by about 4%. The airport added that domestic passenger numbers also grew strongly in the second half of the year, which it attributed to Tiger basing four aircraft at the airport and significant additional capacity by Jetstar.

Looking ahead, Sydney airport chief executive Kerrie Mather says: "2013 has started strongly with 3.9% international passenger growth in the year to date. Management will continue to market Sydney airport to our airline customers and work closely with our industry and government partners to drive tourism growth."

"When combined with new business initiatives and our prudent management of expenses and capital, we remain committed to delivering EBITDA and cash flow growth significantly above passenger growth. We will also continue to drive improvements in value and customer experience across our business."