Sydney Airport $179.2m Profit FY2012

Australian publicly listed airport: Sydney Airport (ASX:SYD) have announced its full year financial results for 2013 to its shareholders and investors on the Australian stock market.

• Sydney Airport have reported their full year profit to be $179.2 million up from a loss of $239.9 million in 2011.
• Sydney Airport's 2011 result was affected by a $361 million impairment charge from the company's sale of its stake in two European airports, Copenhagen and Brussels airports in return for a bigger stake in Sydney Airport in an asset swap deal.
• Sydney Airport chief executive Kerrie Mather said, "By allowing more flights per hour in the peak hours, without even increasing the number of flights per year, the ability of the airport to recover from disruption would be dramatically increased. This would improve on-time performance, with benefits for passengers, airline costs and national productivity. The environment would also benefit from lower carbon emissions due to reduced circling and reduced ground holding."
• Sydney Airport still has plenty of capacity with 61 percent of landing and take-off slots occupied. There is a current cap of 80 aircraft movements per hour.
• Sydney Airport revenue for 2012 was up 1.3 percent to $1.06 billion. SYD derives income from retail, property, car rental, ground transport and commercial services.
• In terms of capital investments and expenditure, the airport spent $215.2 million in 2012, part of a four-year $900 million program to expand passenger terminals, car parks, and add extra aircraft parking stands, gates and apron space to boost capacity.
• Sydney Airport CEO Karrie Mather remuneration salary was at $3.5 million.
• The Sydney Airport Terminals saw 36.9 million passengers in 2012, up 3.6 percent.
• Sydney Airport has declared a final dividend of 10 cents per share. Total dividend payout for 2012 was 21 cents per share.